Unilife signs agreement for injectable eye product
York County-based Unilife Corp., which has seen its stock hover above $4.15 per share since Thanksgiving, today announced an agreement that should generate new revenue in January for the injectable drug delivery company.
Unilife said it has an agreement with an unnamed global pharmaceutical company seeking to use its Ocu-ject ocular system to deliver a target injectable therapy into the eye.
Terms of the agreement were not disclosed for commercial purposes and due to confidentiality requirements.
The Ocu-ject platform delivers small-dose volumes measured in microliters into the eye. Most ocular therapies are administered via intravitreal injection using a standard 1-milliliter tuberculin syringe and needle.
“Ocu-ject represents a game-changing delivery technology for ocular therapies, which is a large, fast-growing segment of the pharmaceutical market,” said Alan Shortall, Unilife’s chairman and CEO.
The company, which has garnered a lot of recent attention over its inability to turn a profit, trades its shares on the Nasdaq under the ticker symbol UNIS. The stock closed at $4.45 per share on Friday. The 52-week low was $1.80, while the high was $5.10, according to Yahoo Finance.