Business
Why the Pharmaxis (ASX:PXS) share price jumped 6% today
The Pharmaxis Ltd (ASX: PXS) share price is up today on the news it has received a substantial payment from a strategic partner.
The Pharmaxis share price reached an intraday high of 9.9 cents in late morning trade, but has since pulled back. At the time of writing, the Pharmaxis shares are up 6.8% to 9.3 cents.
What does Pharmaxis do?
Pharmaxis is an Australian biotechnology company committed to research and drug development for diseases involving inflammation and fibrosis including cystic fibrosis, pulmonary fibrosis and liver disease.
The company currently has two respiratory products approved in international markets that are generating recurring revenue. In addition, Pharmaxis has a diversified range of products at various…
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