Why Actinium Pharmaceuticals Stock Is Surging

Actinium Pharmaceuticals Inc ATNM shares are trading higher Tuesday morning after the company announced it entered into a license and supply agreement with Immedica Pharma for Iomab-B. 

Actinium will receive an upfront payment of $35 million and will be eligible for an additional $417 million in regulatory and commercial milestones as well as royalties in the mid-20% range on net sales.

Immedica will get commercialization rights in Europe and MENA countries, while Actinium will retain rights in the United States and the rest of the world.

Iomab-B is an antibody radiation conjugate comprised of apamistamab, a CD45 targeting antibody, and the radioisotope iodine-131 that is being developed for targeted conditioning to facilitate bone marrow transplant and other cell and gene therapies.

Topline data from a pivotal Phase 3 trial of Iomab-B is expected in the third quarter. 

Actinium is a clinical-stage biopharmaceutical company developing targeted radiotherapies to deliver cancer-killing radiation with cellular level precision.

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ATNM 52-Week Range: $4.41 - $10.30

According to data from Benzinga Pro, the stock was up 39.5% at $7.37 at press time.

Photo: fernandozhiminaicela from Pixabay.