Orgenesis Divests Global Ranpirnase IP and Development Assets to Okogen
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Orgenesis Inc. has announced the sale of its global intellectual property portfolio and development assets for ranpirnase to Okogen Inc. While the financial terms of the acquisition were not disclosed, this represents a significant divestiture for Orgenesis, a company with a market capitalization of just over $1 million. The ranpirnase assets are related to antiviral therapeutics, and their sale could indicate a strategic shift for Orgenesis, a need for capital, or a focus on other core areas. Traders will be watching for further details on the financial impact of this transaction and Orgenesis' updated strategic direction.
At the time of this announcement, ORGS was trading at $0.50 on OTC in the Life Sciences sector, with a market capitalization of approximately $1.1M. The 52-week trading range was $0.00 to $5.89. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.