Shares of Antares climbed 8.9% to US$2.83 in premarket trading. The shares closed Friday down by 1.9% to US$2.60.
The rescue pen will use an auto-injector and an undisclosed Pfizer drug. Pfizer will pay for development of the product and is responsible for obtaining US Food and Drug Administration approval for the device.
Under the supply agreement, Antares will provide a fully packaged, commercial-ready, finished product to Pfizer at cost and the margin, while Pfizer is responsible for commercializing the product in the US.
Antares will receive royalties on net sales of the combined product.
Antares is a specialty pharmaceuticals company using auto-injection technology.