STAB - Statera Biopharma soars after co says to sell rights to naltrexone to Immune Therapeutics

Shares of Statera Biopharma (NASDAQ:STAB) soared 53% in aftermarket trading on Wednesday, after the company said it would sell its rights to naltrexone and met-enkephalin to Immune Therapeutics (OTCPK:IMUN). As per the deal, Statera will get an initial $2M upfront payment and 5% of the issued and outstanding stock of Immune Therapeutics. STAB will also get payments upon the achievement of certain revenue-based milestones, new indications and royalties, as well as any other payments from IMUN in exchange for Statera's rights to any product containing low-dose naltrexone as an active ingredient. STAB estimates that in total, the deal has the ability to generate over $400M in non-dilutive payments to Statera. “Statera's naltrexone assets will be a great addition to our immune-modulation products and immunotherapy technologies,” said IMUN CEO Kevin Phelps.

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Statera Biopharma soars after co says to sell rights to naltrexone to Immune Therapeutics