Statera Biopharma Inc. (NASDAQ:STAB) was up 17% after entering a strategic agreement with Coeptis Therapeutics Inc. (OTCMKTS:COEP). Under the terms of the strategic agreement, Coeptis will purchase Statera’s toll-like receptor 5 (TLRs) agonists platform that includes entolimod.
Trading Data
On Wednesday, STAB stock surged 17.40% to $0.3410 with more than 72.93 million shares, compared to its average volume of 3.23 million shares. The stock moved within a range of $0.3350 – 0.4400 after opening trading at $0.3689.
Coeptis Therapeutics Intends To Acquire Statera’s TLR5 Agonist Platform
Coeptis will pay $6 million to Statera plus milestone payments based on sales that will be spelt out in the definitive agreement. Statera’s most sophisticated TLR5 agonist tech is Entolimod, which is now being tested for the treatment of acute radiation syndrome. Entolimod shows preclinical promise in haematology, particularly in treating cancer patients’ neutropenia and anaemia.
Coeptis CEO stated that the addition of the TLR5 agonist platform, including entolimod, advances the company’s goal of delivering more cancer-fighting alternatives to patients. The platform will support not only various oncology therapies but also has immense promise as a bioweapon defence medication in light of the fast-changing geopolitical landscape. Therefore, STAB is worth watching in the coming weeks.
Key Quote
“The proposed addition of Statera’s TLR5 agonist platform, led by entolimod, a late-stage clinical candidate, offers the potential to significantly enhance our development pipeline and target multiple disease indications that remain underserved by current therapeutic options,” said Dave Mehalick, President and Chief Executive Officer of Coeptis Therapeutics. “We are particularly intrigued by the opportunity to advance the development of entolimod for acute radiation syndrome given the current geopolitical climate, which unfortunately elevates the need for medications to address extreme radiation exposure. Moreover, the opportunity to pursue programs in neutropenia and anemia in cancer patients complements Coeptis’ mission to improve outcomes for patients with cancer.”
Technical Data
STAB stock is trading below the 20-Day and 50-Day Moving averages of $0.38 and $0.64 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.53.
