ObsEva Shares Climb 10% on Licensing Deal With Organon

By Stephen Nakrosis

Shares of biopharmaceutical company ObsEva SA rose on Tuesday, after the company said it entered a deal which will see Organon & Co. license the global development, manufacturing and commercial rights to ebopiprant.

At 3:20 p.m. ET, shares of ObsEva advanced 10.52% to $2.78. Volume topped 66.1 million shares, above the stock's 65-day average volume of 678,428.

At 3:17 p.m. ET, shares of Organon & Co. slid 2.07% to $29.03.

Ebopiprant is being evaluated as a potential treatment for preterm labor by reducing inflammation and uterine contractions, Organon said.

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(END) Dow Jones Newswires

07-27-21 1546ET