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Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) shares are trading higher Thursday after the company announced a private placement of up to $45 million and an exclusive license and development agreement with Théa Open Innovation SAS (TOI).
The Details:
According to an SEC filing, TOI will pay Kiora an up-front payment of $16 million, and Kiora is eligible to receive milestone payments totaling up to approximately $285 million, upon and subject to the achievement of certain specified clinical development, regulatory and commercial milestones.
In addition, Kiora is eligible to receive tiered royalties of between a high single digit to low twenty percent range based on a specified percentage of net sales.
Kiora Pharmaceuticals also entered into a securities purchase agreement with certain institutional investors, pursuant to which Kiora agreed to issue and sell 15,800,000 shares and warrants for expected aggregate gross proceeds at closing of approximately $15 million and potential future warrant exercise gross proceeds of approximately $30 million.
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Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Kiora Pharmaceuticals, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Kiora Pharmaceuticals, the 200-day moving average sits at $0.96, according to Benzinga Pro, which is above the current price of $0.78. For more on charts and trend lines, see a description here.
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
KPRX Price Action: According to Benzinga Pro, Kiora Pharmaceutical shares are up 70% at 94 cents at the time of publication.
Image: Leopictures from Pixabay
Posted In: KPRX
