Knight Therapeutics Inc. (GUD:TSX; KHTRF:OTCMKTS) has raised its Canadian franchise sales and added to its CNS therapeutic area, according to a January 25 Research Capital note by analysts Dr. Andre Uddin and Seungwoo (Steve) Lee.
New Licensing Deals
The report stated that Knight Therapeutics signed an exclusive licensing deal with Amneal Pharmaceuticals Inc. (AMRX:NASDAQ) to pursue regulatory approval and eventually market Amneal's IPX203 drug for Parkinson's disease in Canada and Latin America. IPX203 is a new oral extended-release capsule that delivers a combination of carbidopa and levodopa.
Uddin and Lee also mentioned that on December 19, Knight Therapeutics had signed an exclusive licensing deal with Supernus Pharmaceuticals Inc. (SUPN:NASDAQ) for the rights to develop and market Supernus's drug Qelbree for Attention-Deficit Hyperactivity Disorder (ADHD) in Canada. Qelbree is an extended-release formulation containing viloxazine, a compound that modulates serotonin and norepinephrine activity in the brain.
The report also touched on Knight's acquisition of Exelon, saying it is a part of Knight's diversified profile, but did not provide further details.
Primed for Future Business
According to the report, Knight had a strong cash position in quarter three of 2023. This included $142 million in cash and $75 million in debt. The analysts noted that with this position, they believe Knight may be printed for future business development.
"With the ongoing share buyback program and expansion of multiple portfolio assets, especially in the Latin American markets, we remain bullish and are maintaining our Buy rating and target price of $6.50," the analysts said.
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- This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
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