Crossject soars on the stock market after an agreement with the American agency Barda


The Dijon laboratory has just signed a contract with a potential value of 155 million dollars with Barda for its auto-injector system dedicated to epileptic seizures.

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Crossject soars on the stock market after an agreement with the American agency Barda | Photo credits: Crossject

It’s a spectacular flight like Crossject has never known. The title of the pharmaceutical laboratory, based in Dijon, soared 104% Monday morning, to 3.55 euros, after a peak at 3.88 euros. La Barda, an American agency specialized in R&D in the biomedical field, has just placed a firm order with Crossject for a first delivery of its flagship drug Zeneo Midazolam, a needle-free self-injectable form dedicated to epileptic seizures, as soon as the product will have obtained authorization from the American Health Authority (FDA). Its amount? 60 million dollars, or about 57 million euros. This is more than 8 times the revenue generated by Crossject last year.

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This contract, signed following a call for tenders from Barda, is accompanied by its financial support for the clinical and regulatory development of Zeneo Midazolam until obtaining the authorization request from the FDA for the 10mg dose and a new pediatric dose. Finally, Barda has an additional purchase option of 59 million dollars (56 million euros). ” The total contract value – if all options are exercised – would be $155 million “, or 147 million euros, rejoices Crossject in its press release.

This announcement should be widely welcomed by the marketwrote the analyst from the firm Invest Securities before the opening of the Stock Exchange. All eyes were on a potential Barda deal. The group had solid arguments, but the visibility on the calendar and the competition was limited. This agreement is fundamental for the group: it gives credibility to the pipeline under development in the treatment of emergency pathologies and significantly strengthens commercial prospects. »


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