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Unilife Corporation’s shares hit high note


Unilife Corporation (ASX: UNS) has attracted some strong investor buying of late and shares have responded with a run up to an intra-day high of $0.51, a 70% increase over the low of $0.30 shares were trading at in early April.

By midday around 3.6 million shares had changed hands. To put this in perspective, yesterday around 415,000 shares were traded.

Unilife is preparing to announce its first major long-term supply contract for its Unifill syringe.

This is a significant multi-year commercial supply contract with a major pharmaceutical customer that will generate revenue immediately.

Negotiations for the agreement are complete and all terms have been agreed upon.

Unilife said it has reached an “inflection point” and the company is entering a period of hyper-growth where it expects to generate accelerating, recurring revenue from an expanding base of customers.

Last month the company announced the first in a series of agreements with immediate revenue.

This 15-year customisation and supply contact for the EZMix dual-chamber syringe is with a U.S.-based pharmaceutical company and will generate up to $110 million in cumulative revenue.

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