Arecor Therapeutics PLC ( ($GB:AREC) ) has provided an announcement.
Arecor Therapeutics plc announced the closure of its subsidiary, Tetris Pharma, and a mutual agreement with Xeris BioPharma to return Ogluo® rights, as part of a strategic shift towards higher-value R&D opportunities in insulin and oral peptide delivery. This decision follows a strategic review indicating high supply chain costs and reduced margins for Ogluo®, leading to the impairment of goodwill and intangibles. Arecor will now focus on developing its novel insulin candidate, AT278, and its oral peptide delivery platform, which promises significant value creation and expansion into broader peptide fields.
More about Arecor Therapeutics PLC
Arecor Therapeutics plc is a globally focused biopharmaceutical company dedicated to transforming patient care by enhancing existing therapeutic products. Utilizing its proprietary Arestat™ technology platform, Arecor is developing a portfolio of products in diabetes and other indications, while also collaborating with leading pharmaceutical and biotechnology companies.
YTD Price Performance: 0.68%
Average Trading Volume: 8,120
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £27.94M
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