Medexus Pharmaceuticals

2025-03-14 07:08:16

(MENAFN- Baystreet) 03:51 PM EST - Medexus Pharmaceuticals : Recently completed an agreement with NX Development Corp., the licensor of Medexus's rights to Gleolan® in the United States, to terminate the license, supply, and distribution agreement between the parties and return responsibility for Gleolan® in the United States to NXDC as of a date no later than March 31, 2025. Under the terms of the termination agreement, Medexus will receive an agreed per-unit amount on units of Gleolan® sold by NXDC through June 30, 2025 that approximates the product's past per-unit contribution to Medexus during the term of the now-terminated agreement, which will reduce Medexus's royalty payment to NXDC for fiscal year 2025, due in June 2025. Medexus Pharmaceuticals shares T are trading down $0.03 at $2.54.

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