The Xcelerate Inc (OTCMKTS:XCRT) stock has emerged as one of the gainers in today’s trading session and has already jumped by 8%.
The jump in the stock came about after the company announced this morning that it signed a letter of intent with regards to a business combination with HS Pharmaceuticals LLC. The announcement seems to have excited investors this morning.
HS Pharmaceuticals has been in business for 14 years and during the period it has developed a novel technologies platform that is centered on the company’s patented silicate particle research. As per the provisions of the letter of intent signed by Xcelerate, the company’s researchers and clinical experts are going start the due diligence process with HS Pharmaceuticals.
During this particular operation, a review of HS Pharmaceuticals’ intellectual property, operations and structures are also going to come under review. At this point, investors could do well to keep an eye on the latest developments regarding this transaction.