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Tuesday, May 3, 2011

Trade Alert: ARCA Biopharma Inc ( NASDAQ: ARCA) up 40 % !!

ARCA Biopharma Inc
Trade Alert: ARCA Biopharma Inc ( NASDAQ: ABIO) up 40 % on following news:

ARCA Biopharma Inc (NASDAQ: ABIO), a biopharmaceutical company developing genetically-targeted therapies for cardiovascular diseases, today announced that it has entered into an agreement with Novartis pursuant to which Novartis is acquiring global patent rights to an undisclosed molecular target. ARCA will receive an upfront payment of $2.0 million and is eligible to receive clinical, regulatory and commercial milestones totaling $17.5 million. Additional terms of the transaction were not disclosed.

ARCA is also currently seeking or evaluating business development opportunities for multiple additional compounds in various stages of development which are outside the Company’s core focus area of cardiovascular disease. These business development efforts do not include ARCA’s lead compound, GencaroTM (bucindolol hydrochloride), which is being developed for cardiovascular disease and for which the Company is seeking strategic partners.To read more, choose from below links

( Business Wire )


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