By Dean Seal
Kamada’s shares hit a 52-week high after the company announced an extension of its rabies treatment distribution agreement with Kedrion that will deliver at least $180 million in revenue in the next four years.
The stock rose 31% to a high of $6.35 in early trading. Shares have gained 44% this year.
The biopharmaceutical company said Wednesday that the new agreement runs for eight years starting next month. Within the first four years, Kedrion has committed to purchase a minimum of $180 million of Kedrab, a treatment for rabies infection administered immediately after contact with a possibly rabid animal.
Kamada called this its largest commercial agreement to date.
Write to Dean Seal at dean.seal@wsj.com
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