Fusion Pharmaceuticals Inc. (NASDAQ: FUSN) witnessed a substantial surge in its stock value during Friday’s after-market trading session, further augmenting gains achieved in the regular session. The shares of Fusion Pharmaceuticals experienced a noteworthy increase of 7.16% during the extended trading hours, reaching $4.34, following a 1.25% upswing in the regular session, closing at $4.05.
The impetus for this upward trajectory can be attributed to the company’s participation in an investor conference and the extension of a collaborative agreement. A fireside chat presentation conducted by Fusion Pharmaceuticals (FUSN) occurred on Thursday at the Jefferies London Healthcare Conference. Dr. John Valliant, the Chief Executive Officer of FUSN, eloquently represented the company during this event.
Furthermore, Fusion Pharmaceuticals solidified a fresh agreement with BWXT Medical Ltd., a subsidiary of BWX Technologies. This agreement pertains to the supply of generators essential for the production of actinium-225, a medical isotope utilized in cancer treatment clinical trials. Under the terms of the agreement, BWXT Medical will furnish Fusion Pharmaceuticals with a preferential supply of radium-225 and access to generator technology.
This strategic collaboration empowers FUSN to manufacture actinium-225 on-site at its Good Manufacturing Practice (GMP) facility. Additionally, the companies have expanded their existing agreement for the supply of actinium-225, reinforcing Fusion’s progressive pipeline of targeted alpha therapies.
Actinium-225, an alpha-emitting isotope integral to Fusion’s targeted alpha therapies (TATs), is combined with specific tumor-targeting vectors to eradicate cancer cells while minimizing harm to healthy tissues. Radium-225 serves as the parent isotope, undergoing decay to produce actinium-225.The proprietary generator technology from BWXT enables the on-demand isolation of high-purity actinium-225 from the supplied radium.
These generators set to be dispatched to Fusion Pharmaceuticals’ GMP production facility, have a successful track record in producing various medical isotopes due to their user-friendly nature, negating the need for substantial investments in high-cost cyclotrons and associated infrastructure.
FUSN has proactively invested in securing the supply of actinium-225 since its inception, establishing a resilient and diversified supply chain. The collaboration with BWXT Medical stands as a pivotal element in Fusion’s strategic approach, as evidenced by the preferred partner agreement announced in January 2023 for the supply of actinium-225.
