Key Takeaway: Almirall has entered into an exclusive agreement with Eloxx Pharmaceuticals to license ZKN-013, aimed at treating rare dermatological diseases such as RDEB and JEB caused by nonsense mutations. Eloxx will receive an upfront payment of $3 million and could earn up to $470 million in milestone payments, along with tiered royalties on global sales. This collaboration highlights the potential for innovative treatments in rare disease markets.
Price reaction · baseline $9.9825 (2024-03-12 close) · hit pre-market · clean, no other ELOX news in the window
day 0 close
+11.3%
day 1
+15.7%
day 3 · peak
+17.9%
Market Sentiment Analysis
POSITIVE FACTORS
Almirall secures exclusive global rights for ZKN-013.
Potential for significant financial milestones for Eloxx.
Focus on treating rare dermatological diseases is promising.
BiopharmaWatch Analysis
From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+144%
120-day peak, hindsight
Typical move
20.6%
average across 3 past catalysts
Cash runway
~37 mo
Minimal dilution risk
Full Press Release Details
Almirall obtains exclusive global rights to develop and commercialize ZKN-013 for rare dermatological diseases including RDEB and JEB caused by nonsense mutations. Eloxx receives $3 million upfront and is eligible for up to $470 million in milestones plus tiered royalties on global sales.
The post Almirall and Eloxx Pharmaceuticals Enter Exclusive Agreement to License ZKN-013 for Rare Dermatological Diseases appeared first on Eloxx Pharmaceuticals .
Frequently Asked Questions
What is ZKN-013 used for?
ZKN-013 is developed for treating rare dermatological diseases like RDEB and JEB.
How much is the upfront payment for ZKN-013?
Eloxx Pharmaceuticals will receive an upfront payment of $3 million.
What are the potential earnings for Eloxx?
Eloxx could earn up to $470 million in milestone payments plus royalties.
Who holds the rights to ZKN-013?
Almirall has obtained exclusive global rights to develop and commercialize ZKN-013.
Biotech snapshot
Cash runway
$62M liquidity · $2M/mo burn
~37 mo
Minimal dilution risk
Catalyst track record
+144%
best trade around ELOX's most recent catalyst
Peak hindsight return over a 120-day window, across 3 tracked FDA/PDUFA catalysts for ELOX.