REPH - REPH STOCK NEWS

Recro Pharma (REPH) has signed a master supply and services agreement with Otsuka Pharmaceutical Co., Ltd. to become a commercial manufacturer and supplier. This deal marks a significant milestone in Recro’s strategy to provide U.S.-based supply solutions and enhance its contract development and manufacturing operations. CEO David Enloe emphasized the importance of this collaboration in diversifying their client base and mitigating global supply chain risks in the biopharmaceutical sector.

Recro Pharma (NASD: REPH) has received a $1.87 million task order from the NIH for the development of NES-100, a novel nasal analgesic. The order falls under an existing contract and aims to support Chemistry, Manufacturing and Controls (CMC) development of NES-100, which uses molecular enveloped technology for effective drug delivery. CEO David Enloe emphasized the company's growth and integration of operations, hinting at more potential projects with NIH.

Recro Pharma has announced the appointment of Tim Bourque as the new Vice President and Site Head of Operations for its San Diego facility. This strategic hire follows Recro's recent acquisition of IriSys and aims to strengthen leadership and operational efficiencies. The company is expanding its workforce to support product and business development, and Bourque will lead efforts to integrate operations effectively. Additionally, stock options for 161,960 shares were granted to new employees as part of their compensation package.

Recro Pharma has entered a renewable energy agreement with Georgia Power to purchase 1.2 million renewable energy credits (RECs) through its Simple Solar Program. This purchase aims to support renewable electricity generation and reduce carbon emissions by approximately 937,426 tons. The agreement reflects Recro's commitment to environmental sustainability, effective on Zero Emissions Day. Their sustainability program has already achieved reductions of over 1.3 million pounds of carbon dioxide and 300,000 gallons of water since 2019, enhancing the company's overall environmental impact.

Recro Pharma, Inc. (REPH) has announced a new development and manufacturing agreement with BioCorRx, Inc. for BICX104, a long-acting treatment for opioid use disorder. The agreement expands an existing Master Services Agreement (MSA) established in 2019, shifting from BICX102 to BICX104 as it prepares for first-in-human clinical trials. This project, funded by the National Institute on Drug Abuse, reflects the ongoing collaboration between the two companies and highlights Recro's capabilities as a contract development and manufacturing organization.

Recro Pharma, Inc. (NASDAQ: REPH) announced the acquisition of IRISYS, a San Diego-based contract development and manufacturing organization (CDMO). This acquisition is expected to enhance Recro's capabilities, expanding its global customer base and service offerings. The integration is anticipated to complement Recro's operations on the East and West Coasts of the U.S. and diversify its revenue sources. Additionally, the company will host a webcast on August 19, 2021, to discuss the acquisition's strategic importance and its expected impact on ongoing growth.

Recro Pharma, Inc. (NASDAQ: REPH) announced the acquisition of IRISYS, a San Diego-based CDMO, for approximately $50 million. This acquisition enhances Recro's capabilities, enabling it to offer a full range of services from pre-IND development to commercial manufacturing. It adds over 30 clients across six countries, diversifying Recro’s revenue streams. For 2021, IRISYS is projected to generate $15.4 million in revenue with a net income of $2.1 million. The acquisition aligns with Recro's growth strategy aimed at sustainable and profitable expansion.

Recro Pharma (NASDAQ: REPH) announced a non-binding letter of intent to acquire a full-service CDMO for approximately $49.85 million. This acquisition will include $25.5 million in cash at closing, 9,302,718 shares of common stock to be issued in six months, and seller notes of $6.1 million. The acquisition aims to expand Recro's capabilities in formulation development and commercial manufacturing across various dosage forms. However, the completion of this transaction is contingent upon due diligence and the successful negotiation of definitive agreements.

Recro Pharma, Inc. (NASDAQ: REPH) reported Q2 2021 revenues of $18.0 million, up 16% year-over-year. This growth is attributed to increased product sales and new business agreements, including partnerships with Astex Pharmaceuticals and Ensysce Biosciences. The company closed an oversubscribed public offering, raising $32.1 million in net proceeds, and improved cash reserves to $45.7 million. However, revenues for the first half of 2021 decreased to $34.8 million compared to $37.3 million in 2020, primarily due to discontinued products.