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BOSTON - Astria Therapeutics, Inc. (NASDAQ:ATXS), a $396 million market cap biotech company currently trading at $7.02, has entered an exclusive licensing agreement with Japanese specialty pharmaceutical company Kaken Pharmaceutical for the development and commercialization of navenibart in Japan, according to a press release statement. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculation.
The deal, announced Wednesday, grants Kaken rights to navenibart, a long-acting monoclonal antibody inhibitor of plasma kallikrein currently in Phase 3 development for hereditary angioedema (HAE) prevention.
Under the agreement terms, Astria will receive $16 million upfront with potential for an additional $16 million in commercialization and sales milestones. The company is also eligible for tiered royalties up to 30% of net sales and partial reimbursement of Phase 3 costs. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 17.39, though it’s currently experiencing rapid cash burn.
Kaken will support the ALPHA-ORBIT Phase 3 trial in Japan, handle regulatory submissions, and reimburse Astria for a portion of the navenibart Phase 3 program costs.
"Kaken brings strong relationships with the Japanese medical community that we believe will support both our Phase 3 ALPHA-ORBIT trial as well as the potential commercialization of navenibart in the future," said Jill C. Milne, Chief Executive Officer at Astria Therapeutics.
Hiroyuki Horiuchi, President and Representative Director of Kaken, stated the partnership aligns with their strategy of addressing unmet medical needs in Japan.
Navenibart is being developed as a subcutaneous treatment administered every 3 and 6 months for HAE, a rare genetic disorder characterized by episodes of severe swelling.
With the upfront payment and expected cost reimbursements from Kaken, Astria has extended its projected cash runway to support operations into 2028. Analysts maintain a bullish outlook on the stock, with price targets ranging from $16 to $47. Investors can access more detailed financial analysis and 10 additional ProTips through InvestingPro, with the company’s next earnings report scheduled for August 11, 2025.
In other recent news, Astria Therapeutics announced positive initial results from its ALPHA-SOLAR long-term trial of navenibart for hereditary angioedema (HAE), showing a significant reduction in monthly attack rates among participants. Patients on a three-month dosing schedule experienced a 95% reduction, while those on a six-month schedule saw an 86% reduction. Following this, H.C. Wainwright reiterated a buy rating with a $16 price target, and Citizens JMP maintained a Market Outperform rating with a $25 target, citing the drug’s potential to outperform existing treatments. Cantor Fitzgerald also reaffirmed its Overweight rating with a $47 target, emphasizing confidence in the drug’s prospects. Meanwhile, JMP Securities adjusted its price target to $25 from $26, maintaining a Market Outperform rating and highlighting upcoming data releases as significant milestones in Astria’s development plans. The anticipated topline data from the ongoing Phase 3 study is expected in early 2027. Analysts from these firms continue to express optimism about navenibart’s potential impact on the HAE treatment landscape.
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