Aeolus soars on US contract to develop treatment for lung acute radiation syndrome
This article was originally published in Scrip
Executive Summary
Aeolus Pharmaceuticals saw its shares ride a rollercoaster as the market digested the on news that the US Biomedical Advanced Research and Development Authority (BARDA), part of the Department of Health and Human Services (HHS), had awarded the company a contract worth up to $118.4 million for the advanced development of its catalytic antioxidant, AEOL 10150, as a medical countermeasure against radiation-inducted pulmonary injury. On 15 February, the day of the award, the company's shares gained $0.19 or 25% to $0.94 before closing the week back down at $0.65, valuing the company at $36.9 million.