BioRestorative Therapies Sharply Higher After Inking Deal to Jointly Study Brown Adipose TissueMd Noman Siddique (Author) Published Date : Jun 17, 2014 00:32 IST
BioRestorative Therapies Inc. (BRTX) shares were up more than 17% in early-afternoon trade, just off its high for the day, after the development-stage biotech inked a two-year research agreement with Pfizer (PFE) to jointly study so-called brown fat and its potential therapeutic uses. BRTX shares were ahead 17.2% at 58 cents apiece, a penny under their session high. The stock has a 52-week range of 28 cents to $1.19 a share, declining 42% in value over the past year. Under the terms of the agreement, the companies plan work on a study measuring the metabolic function of brown adipose tissue, also further characterizing the identity of the human cell lines containing large numbers of iron-containing mitochondria, giving them their brown color compared to white fat cells. Both firms will be able to use the resulting research to develop new obesity-related therapies for Type 2 diabetes, hypertension and other diseases. PFE was 0.7% higher in recent trade at $29.78 a share, climbing as high as $29.87 apiece during the session.
BioRestorative Therapies Sharply Higher After Inking Deal to Jointly Study Brown Adipose Tissue