Shares digital

Shares in drug developer Plethora Solutions (PLE:AIM) shot up by 11% to 53p after it announced a $25 million agreement with Paul Capital Healthcare. In return Paul Capital will receive an interest in the revenues generated from its male health portfolio, which includes treatments for premature ejaculation and erectile dysfunction. An initial $15 million will help fund the Phase III trials of the PE and ED products and will also help to bolster the company’s balance sheet. Analysts tip the loss making company to break even in 2010.

Shares says: Shares should continue to recover now funding concerns have eased. ST