Argent BioPharma Streamlines AusCann Deal to Bolster CannEpil and IP Portfolio

An update from Argent Biopharma ( (AU:RGT) ) is now available.

Argent BioPharma has signed a binding agreement with AusCann Group Holdings to acquire AusCann’s 48% equity stake in CannPal Animal Therapeutics for A$2 million in Argent shares, in a streamlined deal that replaces a broader prior term sheet and excludes AusCann’s EuroCann holding. The transaction, backed by Argent’s board, major shareholders and primary financier C/M Capital Partners, is designed to strengthen Argent’s clinical pipeline by providing validated preclinical and real-world data to accelerate regulatory and commercial progress for its CannEpil® cannabinoid therapy, enhance its intellectual property portfolio through an option to acquire the Neuvis® drug-delivery platform, and support early-access and named-patient programs as well as its U.S. dual-listing and partnering strategy, while also prompting board changes to align governance with the company’s next phase of growth.

The most recent analyst rating on (AU:RGT) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Argent Biopharma stock, see the AU:RGT Stock Forecast page.

More about Argent Biopharma

Argent BioPharma Ltd (ASX: RGT) is an Australian biopharmaceutical company focused on developing cannabinoid-based pharmaceutical products, including its lead epilepsy treatment CannEpil® and anti-inflammatory candidate CimetrA®. The company targets regulated medical markets, with an emphasis on building an IP-driven, scalable revenue model and pursuing dual listing on a U.S. national exchange to broaden access to capital and commercial partnerships, particularly in Europe and North America.

Average Trading Volume: 79,171

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$5.42M

For an in-depth examination of RGT stock, go to TipRanks’ Overview page.