Dr. Reddy's Agrees to Partial Deferral of Cancer Therapy-Related Milestone Payment by Citius Oncology

MT Newswires Live09-14

Citius Oncology (CTOR) said Friday that Dr. Reddy's Laboratories (RDY) agreed to a partial deferral without penalty of a milestone payment by Citius that was triggered upon the US Food and Drug Administration's approval of the Lymphir cancer therapy.

The milestone payment was due Sept. 9, Citius said in a filing with the US Securities and Exchange Commission.

The company said that except for the partial deferral of the milestone payment, its September 2021 asset purchase agreement with Dr. Reddy's remains in full force and effect.

CTOR shares were up 3.7% in recent Friday trading while RDY shares were climbing 0.4%.

Price: 80.51, Change: +0.25, Percent Change: +0.32

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