HLS Therapeutics Inc (TSE:HLS) has released an update.
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HLS Therapeutics Inc. has divested its royalty interest in XENPOZYME to DRI Healthcare Trust for up to $45.75 million, with $13.25 million received upfront to reduce company debt and lower future interest expenses. The deal, effective June 28, 2024, also involves DRI Healthcare’s assumption of future milestone payments, allowing HLS to focus on its product portfolio growth and use capital more productively. Following the sale, HLS has updated its 2024 financial guidance, projecting lower total revenue and Adjusted EBITDA.
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