DMK Pharmaceuticals Corporation (NASDAQ:DMK) shares are trading higher Thursday after the company announced that it has regained the full rights to commercialize Zimhi (naloxone) after the termination of an exclusive commercialization and distribution agreement with US WorldMeds, LLC.

What To Know:

DMK Pharmaceuticals announced the termination of the exclusive agreement and the company is actively seeking commercialization opportunities for Zimhi, in the U.S., Canada and Europe.

DMK Pharmaceuticals shares are blasting higher on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 27.4 million shares have been traded in the session, far exceeding the stock's 100-day average volume of 1.185 million shares.

Eboo Versi, M.D., Ph.D., CEO of DMK Pharmaceuticals, commented, "DMK is excited to engage with partners in the United States and abroad to drive long-term growth through new commercialization pathways. We will continue to execute an ambitious operating plan in the United States and expand our business relationships outside of the United States to maximize benefits to patients and DMK's stakeholders, providing optimal shareholder value."

DMK Price Action: According to Benzinga Pro, DMK Pharmaceuticals shares are up by 35% at 80 cents at the time of publication.

Image: Mohamed Hassan from Pixabay

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