Idor­sia notes po­ten­tial $440.8M Asia li­cens­ing deal to ex­tend cash run­way amid slow Qu­viviq sales

Swiss bio­phar­ma Idor­sia gave out few de­tails Tues­day about a po­ten­tial $440.8 mil­lion (400 mil­lion CHF) deal with an un­named com­pa­ny that would in­clude li­cens­ing rights to some of Idor­sia’s prod­ucts in the Asia-Pa­cif­ic re­gion, ex­clud­ing Chi­na.

Idor­sia CFO An­dré Muller said in a state­ment that the “strate­gic trans­ac­tion” would ex­tend the com­pa­ny’s cash run­way and is ex­pect­ed to be com­plet­ed in Ju­ly. The com­pa­ny’s most re­cent fi­nan­cial re­sults from the first quar­ter of 2023 showed cash and cash equiv­a­lents of $233.5 mil­lion (CHF 212 mil­lion) with a to­tal in­debt­ed­ness of $1.4 bil­lion (CHF 1.292 bil­lion).

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