00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Nenexa shares more than doubled Friday after the Swedish drug delivery company announced
00:08a $133 billion licensing deal with Novo Nordisk, according to CNBC.
00:13The agreement gives Novo exclusive rights for up to five development programs
00:18using Nenexa's PharmaShell technology for long-acting injectable drugs,
00:22targeting obesity, type 2 diabetes, and other cardiometabolic conditions.
00:27The companies are targeting monthly and quarterly administration of the drugs.
00:32Nenexa is eligible for an upfront payment of about $700 million,
00:35along with potential development and regulatory milestone payments
00:39and low single-digit royalties on future product sales.
00:43Nenexa shares jumped more than 150% at the open before pairing gains to around 114%.
00:49For all things money, visit Benzinga.com.
