This morning is a breath of fresh air for bulls as the S&P 500 is up over 1% in early trade following last Friday’s rocky trading session. While the overall bullish sentiment is leading the majority of the market to greener pastures, there was one standout that I felt to be noteworthy this morning.
KemPharm, Inc. (OTCQB:KMPH) announced this morning that is was expanded its relationship with Corium, Inc. through a new consultation services agreement, where KemPharm will provide product development consultation services to Corium.
Though the agreement has some details kept in house, the press release stated that the expansion could lead to KemPharm receiving payments of $15.6 million paid in quarterly installments through March 31, 2022. Through the new consultation agreement, Corium has engaged KemPharm to guide the product development and regulatory activities for some current and potential future products within Corium’s portfolio, including the potential commercial launch of KP415 (KemPharm’s ADHD product candidate).
Traders seemed to be happy with this expansion, as shares traded up to $0.679/share (+23%) early in the session. This move pushed the price over both its 10-day and 50-day SMA as the stock attempts to continue its uptrend from June of this year.
