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KindredBio shares climb following Mirataz approval

Jul 26, 2018 - Animal Pharm
By Sian Lazell

Kindred Biosciences has seen a sustained increase in its share price over the last month.

As shown below, the firm's stock has risen in value by 28% since the beginning of June. On July 25, KindredBio's shares were trading at $13.15 per share. This was the company's highest share price since August 2014.

Earlier in July, KindredBio became a commercial entity – six years after it was established – as its Mirataz (mirtazapine transdermal ointment) treatment for the management of weight loss in cats was launched.

The company is due to publish its second quarter results on August 9 along with early sales data for Mirataz.

KindredBio recently closed a public offering of shares, raising $50.6 million which will be used to back the expansion of its commercial infrastructure ahead of future product approvals and launches.

KindredBio share price progression




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