ARTICLE | Company News

Nastech up on Merck obesity deal

September 27, 2004 7:00 AM UTC

NSTK was up $5.41 (70%) to $13.15 on 14.4 million shares on Monday on news that MRK licensed worldwide rights to co-develop NSTK's PYY3-36 to treat obesity. The nasal spray formulation of the naturally occurring PYY hormone has completed three Phase I obesity trials. NSTK will receive $5 million in cash up front and is eligible for $131 million in development and regulatory milestones plus $210 million in sales-related milestones. NSTK also is eligible for royalties. ...