OPKO Health, Nicoya Therapeutics Ink Rayaldee Pact For Hyperparathyroidism In Greater China

OPKO Health Inc's OPK subsidiary EirGen Pharma has agreed to develop and commercialize Rayaldee to treat secondary hyperparathyroidism in patients with stage 3/4 chronic kidney disease with Nicoya Therapeutics in Greater China.
Nicoya will make an upfront payment to OPKO of $5 million and an additional $5 million payment during the first 12 months of the agreement or upon Nicoya achieving a certain predetermined development milestone.
In addition, OPKO will be eligible to receive up to $115 million upon the achievement of certain milestones.
Nicoya will also pay OPKO tiered, double-digit royalties on product sales.
Rayaldee is an extended-release formulation of calcifediol, a prohormone of calcitriol, the active form of vitamin D3.
Price Action: OPK shares are up 0.81% at $3.73 during the market session on the last check Monday.