Pfenex Inc (PFNX) Stock Alert

Alert to all my subscribers: Pfenex Inc (PFNX) is running.

Pfenex Inc. released Q2 results and business update yesterday after market close:

The revenues declined as was expected. However, there is an important business update:

Pfenex enters into a new research collaboration and license agreement with Merck & Co. Inc., with the potential to earn up to $293M in upfront, development, and sales milestones.

The new deal with Merck worth more than current market cap. 455million in outstanding royalties payable and 60m in cash with a market cap of 250m.

To read more: https://finance.yahoo.com/news/pfenex-reports-second-quarter-2020-200500779.html

The stock already gained 12% this morning.

!!! Please make sure to do your own due diligence before investing. I am not suggesting or recommending the stock for purchase. This is a mere stating what was released and the current state of the price.