Fresh Tracks Receives $8.25 Million Buyout of Its Right to Receive Future Sofpironium Bromide Payments from Botanix

July 21, 2023

(24/7 MARKET NEWS) – Fresh Tracks Therapeutics, Inc. (NASDAQ:FRTX) reported, this morning, that it entered into an amendment to its Asset Purchase Agreement with Botanix Pharmaceuticals Limited to sell its rights to future event-based milestone and earnout payments on net sales of sofpironium bromide to Botanix SB Inc. for $8.25 million (USD). In May 2022, pursuant to the Asset Purchase Agreement, Botanix acquired from Fresh Tracks all assets primarily related to sofpironium bromide.

Fresh Tracks is trading at $0.8411, up $0.1605 (+23.58%), on 670.2K premarket shares traded.

Its 52-week range is $0.4495 to $4.64. If it can clear its mid-June near $1 resistance, on strong trading volume, it could challenge the $1.50 level.

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