Shares of Agentix Corp (OTCMKTS:AGTX) are trading flat this morning despite announcing a worldwide exclusive license and services agreement.
Market Action
As of early morning, trade, AGTX stock is trading flat. The stock has moved within a range of $0.5999 – 0.5999 after opening trade at $0.5899.
AGENTIX and RTI International Announce Worldwide Exclusive License and Services Agreement
Clinical-stage biopharmaceutical firm focusing on developing innovative therapeutics for the treatment of metabolic diseases, Agentix (OTCMKTS:AGTX) on December 21, 2021, announced entering into an amendment to a Patent as well as Know-How License Agreement between the parties.
This is meant for an exclusive license and services agreement with Research Triangle Institute, a non-profit research institute engaged in the commercialization of certain RTI therapeutic assets. Evidence generated in the pre-clinical models gives a case for efficacy in treating Non-alcoholic Steatohepatitis as well as obesity.
AGENTIX must finish Phase I trials by January 15, 2021, under the agreement.
Estimates suggest that about a quarter of the US adults suffer from NAFLD and obesity prevalence is about 43%.
Rudy Mazzocchi, Chairman of the Board and Chief Executive Officer of AGENTIX expressed satisfaction in having an incredible partner like RTI and hopes to work on advancing therapies into the clinic.
The CEO added that the data generated is exciting and hopes it will lead to a viable treatment for a prevalent disease.
Scott Runyon, Ph.D., director of the Center for Drug Discovery at RTI said that the opportunity to pair promising therapeutic candidates with a robust commercial partner is exciting. Runyon added that the company will continue supporting AGENTIX.
Traders Note
AGTX stock is trading below the 20-Day and 50-Day Moving averages of $0.7562 and $0.8204. Moreover, the stock is trading is the oversold zone with RSI stands at 36. The stock is down 25% over the past month.
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