10:55 AM EDT, 10/01/2025 (MT Newswires) -- PharmaTher Holdings ( PHRRF ) down 22% on last look, said Wednesday it has sold its abbreviated new drug application (ANDA) for ketamine hydrochloride injection USP to a global pharmaceutical company.

PharmaTher ( PHRRF ) will receive a confidential upfront cash payment at closing and is eligible for milestone payments based on cumulative sales thresholds, along with profit-sharing for seven years following the first commercial sale. Total payments could exceed US$25 million, but these are contingent on the product's commercial performance, the company said.

"This transaction validates the significant value embedded in our ketamine assets," said Fabio Chianelli, chief executive officer.

"We are excited to announce this agreement with a leading global sterile-injectables company, structured to allow PharmaTher ( PHRRF ) to share in the upside of future sales of the growing ketamine market. Importantly, it also enables us to leverage the foundation we built with our ketamine program to advance our proprietary next-generation therapies, which we believe represent multiple high-value opportunities for both patients and shareholders."

PharmaTher ( PHRRF ) shares are down $0.08, to $0.29, on the Canadian Securities Exchange.

Price: 0.29, Change: -0.08, Percent Change: -21.62