Pharmaceutical company Acrux (ASX:ACR) saw its shares climb over 5% today as investors belatedly rallied at the news of a new €2.1 million ($3.09 million) distribution deal.
Acrux has licensed distribution rights for its menopause treatment spray, known as Evamist in the US, to HRA Pharma. In addition to the signing fees, Acrux is eligible for an ongoing distribution fee based on sales.
HRA Pharma has the rights to market the product in France, Germany, the UK, Spain, Italy, Greece, Turkey and Cyprus.
Acrux shares are currently trading 5.3% higher at $1.59, but had fallen nearly 2% to $1.51 yesterday.
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