Shares in Redx Pharma PLC (AIM:REDX) jumped 14% in opening trade after it inked a deal with Jazz Pharma worth a headline US$880 million.
It is the second transaction with Jazz and its fourth in total, with AstraZeneca and a subsidiary of Eli Lilly among making up the other names on the collaboration roster.
For investors, the US$10 million upfront payment will be seen taking away any immediate cash worries.
At 8.29 am, Redx shares were changing hands for 22.94p, up 2.94p.