Eiger Bio rises on sale of priority review voucher for $95M

 

• Eiger BioPharmaceuticals (NASDAQ:EIGR) jumps 8% premarket after entering into an agreement to sell its Priority Review Voucher (PRV) for a lump sum payment of $95M.
• Eiger will retain 50% of the proceeds, or $47.5M, under the terms of the Collaboration and Supply Agreement with The Progeria Research Foundation (PRF).
• The PRV was granted in conjunction with the recent approval by the FDA of Zokinvy (lonafarnib) for treatment of Progeria and processing-deficient Progeroid Laminopathies.
• "The sale of the PRV provides Eiger with an important source of non-dilutive capital and further strengthens our balance sheet," said David Cory, President and CEO of Eiger.
• Eiger licensed worldwide rights to lonafarnib from Merck.  Merck will not receive any milestone payments for the development of lonafarnib, and has waived royalty obligations from Eiger for a specified quantity of lonafarnib.
• https://seekingalpha.com/news/3638658-eiger-bio-rises-8-on-sale-of-priority-review-voucher-for-95m