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DRI Healthcare Trust Exercises its Put Option on EKTERLY

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DRI Healthcare Trust (DHT-UN.TO) exercised its contractual put option related to its royalty participation right in EKTERLY (sebetralstat) for around $178 million, it said Friday.

The company expects to receive payment no later than mid-August, subject to the terms of the royalty agreement, said the company.

This follows the completion of Chiesi Group's acquisition of KalVista Pharmaceuticals, the company which developed EKTERLY, on June 11, added DRI Healthcare Trust.

"We are pleased with the outcome of DRI Healthcare's first pre-approval transaction," said CEO Ali Hedayat. "Exercising our put option at this juncture allows us to crystallise an attractive return for our unitholders."

The company's shares were last seen down C$0.14 to C$18.06 on the Toronto Stock Exchange.

Price: $18.06, Change: $-0.14, Percent Change: -0.77%

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