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Optimer Pharma Gains 6% on License Deal with Astella Pharma'

Financial News Network
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February 07, 2011 AT 6:24 PM
Optimer Pharmaceuticals Inc. (OPTR) is up 6.25% to $12.58 in mid-morning trading and, but still well off its 52-week high of $13.80. The jump comes on the back of a licensing deal for its experimental antibiotic, fidaxomicin, with Japanese drugmaker Astellas Pharma Inc.'s European unit. The upfront payment will be $68 million.