Hardman & Co Research: Diurnal (DNL): $52.5m US deal strengthens balance sheet further

Hardman & Co Research: $52.5m US deal strengthens balance sheet further

Diurnal is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products are targeting rare conditions where medical need is currently unmet, with the aim of building a long-term 'Adrenal Franchise'. Alkindi(R) is currently being rolled out through key European markets and has been submitted to the FDA for approval, with a PDUFA date set at 29 September 2020. Meanwhile, Diurnal has signed an exclusive US commercial deal with Eton Pharmaceuticals, a specialty pharma company focused on hospital and paediatric products. This, together with the recent Placing, has strengthened the balance sheet.

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