Relief Therapeutics (OTC: RLFTF) was flying yesterday and managed to deliver gains as high as 36% as investors piled on to it in a big way. The rally in the stock could be linked to a joint announcement made by the company along with Acer Therapeutics Inc earlier this week.
The announcement revealed that the two parties signed an option agreement by way of which they are going to collaborate and licensing agreement for the global commercialization as well as the development of the product ACER-001.
The product in question is a proprietary formulation that is meant to treat Maple Syrup Urine Disease and urea cycle disorders. It is a significant development for Relief Therapeutics and hence, it is not a surprise that it eventually proved to be a trigger for the rally in its stock. Relief is going to make a non-refundable payment of $1 million to Acer for the exclusive rights to the product up until the end of June this year.
Finance and Entertainment Reporter
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