- Aditxt, Inc. (NASDAQ:ADTX) stock is surging Thursday as it expands its portfolio to include innovative therapies for infectious diseases.
- ADTX inked an asset purchase agreement with Cellvera to acquire a 50% stake in G Response Aid FZE (GRA or Global Response Aid) for $24.5 million.
- The remaining 50% is owned by global logistics company Agility, Inc.
- Based in Dubai, Global Response Aid, was established to address the market challenges created by the COVID-19 pandemic and other threats to public health.
- Together with Dr. Reddy’s Laboratories Ltd (NYSE:RDY), GRA holds an exclusive, worldwide license for Avigan 200mg, excluding Japan, China and Russia.
- With the acquisition deal, Aditxt will gain the rights to manufacture and market the broad-spectrum antiviral drug Avigan. The deal could drive Aditxt’s strategic revenue and growth.
- This agreement is a significant step for Aditxt as it expands the company’s portfolio to include innovative therapies for infectious diseases.
- Price Action: ADTX shares are trading higher by 12.8% at $0.97 on the last check Thursday.
Crude Oil Rises Over 2%; Cutera Shares Plummet
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping around 80 points on Wednesday.
The Dow traded down 0.12% to 33,643.89 while the NASDAQ fell 0.67% to 11,951.16. The S&P 500, also fell, dropping, 0.33% to 4,095.41.
