Cornerstone Therapeutics' stock price ticked slightly higher on 8 November, but closed down 0.6% on news that the Cary, North Carolina-based company licensed exclusive US rights to Chiesi Farmaceutici's recently approved Bethkis (tobramycin inhalation solution) to treat chronic pulmonary infections caused by Pseudomonas aeruginosa in patients with cystic fibrosis.
Chiesi will get $1 million upfront, $2.5 million upon the first sale of Bethkis during the first half of 2013 plus royalties on commercial sales