Despite an acquisition, JanOne Inc. (NASDAQ: JAN) has fallen -6.74% to $1.80 in after-hours trade on Friday. JAN stock increased 3.21% to $1.93 at the end of the most recent trading session, ranging between $1.8581 and $1.9499.
What does JAN now possess?
Recently, JanOne (JAN) signed a term agreement to buy Soin Therapeutics LLC and its product, a low-dosage naltrexone formulation with a pending patent. Complex Regional Pain Syndrome (CRPS), a severe, persistent pain that typically affects the arms or legs, is the condition for which JanOne will brand the medicine Jan123. Since there are no real cures for CRPS, doctors sometimes give painkillers when the pain is too bad. The transaction is worth $13 million, and depending on how much income the Jan123 product finally generates, it may be worth up to an additional $17 million, for a potential total transaction value of $30 million.
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Soin Therapeutics will be able to advance its CRPS treatment thanks to its partnership with JanOne. Soin continued to struggle with the lack of CRPS treatment alternatives, which prompted it to start looking into solutions that would provide patients respite. Soin Therapeutics was encouraged by the preliminary findings, and it will now collaborate with the JanOne team to bring this medicine to market.
JAN101, the original medication, combats the underlying condition that causes the discomfort brought on by Peripheral Artery Disease (PAD). JanOne now offers JAN123, a medication that specifically treats pain. JanOne will be able to enter the market and start treating this severe kind of pain considerably more rapidly than would be possible with the conventional medication development process thanks to Soin Therapeutics’ recent achievement of Orphan Drug Designation for JAN123.
The second pain-relieving product that JanOne is creating is called Jan123. JAN101, the company’s first medication, may treat PAD, a vascular condition that affects more than 8.5 million Americans and more than 60 million people globally. In clinical studies, JAN101 has effectively been used to lessen pain and enhance nerve function.
How will JanOne move forward?
JanOne (JAN) will strive to progress JAN123 through GMP production and into clinical studies when the acquisition is complete. JanOne expects to submit an IND application in 2023 and start the clinical development process later that same year.
