Axovant [NASDAQ: AXGT] Inks AXO-LENTI-PD Supply Deal With Oxford Biomedica

Axovant Gene Therapies Ltd. [NASDAQ: AXGT] disclosed today that its subsidiary has inked a three-year Clinical Supply Agreement (CSA) with Oxford Biomedica Plc [LSE: OXB].

The CSA between the two firms in June 2018 for a worldwide licensing agreement for the Parkinson’s disease gene therapy program OXB-102, now called AXO-Lenti-PD. AXO-Lenti-PD is an investigational gene therapy developed for the treatment of Parkinson’s disease.

As per the deal, to continue the ongoing and future clinical development of AXO-Lenti-PD Oxford Biomedica will make GMP batches for AXGT. Axovant Gene Therapies is currently directing the SUNRISE-PD phase 2 Trial with AXO-Lenti-PD.

Shares of Axovant had traded up 0.34% and up +0.01 during the trading of Thursday. It has a day low range of $2.93 and a day high range of $3.03. If we look at its liquidity, the quick ratio for Axovant Gene Therapies is 2.70. Similarly, its current ratio is the same as the quick ratio.

Continuing to look at its profitability, its return on assets (ROA) is -92.70% and return on equity (ROE) is -257.10%. Axovant has reported the income of -72.60 million. It has total market capitlization of 125.79 million.

During the period of 52-week, this company’s stocks have fluctuated between the low of $1.41 and a high of $8.08. It has increased 112.06% from its 52-weeks low and moved down -63.00% from its 52-weeks high. Axovant is looking forward to work with Oxford Biomedica for the development of AXO-Lenti-PD.