Trellus Health PLC (AIM:TRLS), the digital chronic disease management platform, surged 39% to 0.28p after the company announced it had renewed its licensing agreement with Pfizer.
Under the renewed deal, Pfizer will continue to license Trellus Health's patient-support educational content for use in its inflammatory bowel disease (IBD) digital application.
The original agreement was signed in the second quarter of 2024.
Chief executive and co-founder Dr Marla Dubinsky said the renewal reflected the continued engagement of Pfizer's users with its content and the value of its resilience-driven methodology.
She added that alongside a recent master services agreement with Gastro Health, an extended collaboration with Johnson & Johnson, and the ongoing rollout of its TrialSet clinical trial tool, the renewal further demonstrated the applicability of its platform across the pharmaceutical lifecycle.
Trellus Health said it had reduced its monthly cash burn to an average of approximately $300,000 as of March 2026.
The company said that the Pfizer renewal, combined with a loan from scientific co-founder and co-inventor Laurie Keefer, is expected to extend its cash runway into May 2026.
The board said it remained supportive of the company's commercial strategy and was engaged in ongoing discussions regarding a range of potential funding options to extend its runway further.