Shares of Bellerophon Therapeutics (NASDAQ: BLPH) shot up by more than 100% on Thursday as the clinical stage biotherapeutics company announced a licensing agreement for the development and commercialization of INOpulse with Baylor BioSciences, a life sciences company in Greater China.
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As per the terms of the licensing agreement, BLPH will receive a licensing payment of $6 million, “payable within 90 days subject to certain closing conditions set forth in the agreement.”
In addition, Bellerophon will also receive royalties of 5% on net sales of INOpulse in China. In return, Baylor BioSciences will have exclusive rights “to develop and commercialize INOpulse within Greater China for diseases associated with pulmonary hypertension.”
BLPH stock has lost more than 70% of its value in the past year.
