Aditxt Inc. (ADTX) stock prices were up by 21.71% shortly after market trading commenced on October 5th, 2021. This brought the price per share down to USD$1.91 early on in the trading day.
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ADTX Stock Partners with AiPharma
October 5th, 2021 saw ADTX stock announce having entered into a transaction agreement with AiPharma Global. As per the agreement, the biotech innovation company will acquire AiPharma by the end of November 2021. Following this development, the company will own all of the assets of AiPharma Global, which is a company focused on discovering, developing, and commercializing antiviral therapies across a broad spectrum of infectious diseases.
About AiPharma
AiPharma global is a biopharmaceutical company that directly holds, or through its worldwide affiliates, exclusive rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir. Favipiravir is a broad spectrum oral antiviral drug that targets Covid-19 and other infectious diseases. The binding agreement is hot on the heels of the ADTX stock’s prior announcement on August 25ht 2021 that it would be acquiring AiPharma. The agreement also follows the company’s funding of a bridge loan to AiPharma Global in the amount of USD$6.5 million.
ADTX Stock’s Synergistic Collaboration
The completion of the acquisition will form a business segment for ADTX stock that will focus on the monitoring and treatment of infectious diseases. Key terms of the agreement include an increase in the amount of permitted borrowings under the secured loan from the company to AiPharma Global. This increase will be by USD$8.5 million, bringing the total availability up to USD$15 million. Furthermore, The company will be issuing shares of its common stock in an amount that yields 65% of its outstanding shares, as calculated as of September 30th 2021 to be issued should the transaction close.
Building on Success
ADTX stock is keen to facilitate the completion of the acquisition, which would serve to accelerate the company’s commercialization plans. These plans would see the company expand its market footprint in the infectious disease space. The company would also be uniquely situated by combining its commercialized AditxtScore for the Covid-19 test with an at-home treatment for the disease.
Future Outlook for ADTX Stock
The company is poised to capitalize on the expanded scope of opportunities afforded to it as a result of its transaction with AiPharma. ADTX stock is keen to maintain the momentum generated over the course of the quarter. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.
