Redeye leaves a research update following Klaria Pharma’s recent announcement of a licensing agreement with CNX Therapeutics for the marketing and sale of its Sumatriptan Alginate Film in Europe. We are encouraged by this achievement and believe that it provides Klaria with some much-needed short-term financing, extending its financial runway, while enabling the anticipated market launch of Sumatriptan Alginate Film already in H2 2025. Accordingly, we raise our base case valuation.

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