Epix Pharmaceuticals, Inc. identifies three lead candidates with Glaxo
Shares of Epix Pharmaceuticals, Inc. (Nasdaq: EPIX) are edging higher in pre-market trading this morning after the biopharmaceutical company said that through the company’s collaboration with GlaxoSmithKline (NYSE:GSK) it has identified three lead candidates that will move forward into lead optimization in this first collaborative G-protein coupled receptor discovery program.
Epix said that under the collaboration, it is entitled to receive a $3 million milestone payment from Glaxo in the next 30 days.
Shares of Epix gained $0.11, or 2.68%, to $4.22 in pre-market trading.
