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.
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.