Callan JMB Inc. (NASDAQ:CJMB) shares are trending on Friday.
Shares of the Texas-based integrative logistics and supply chain management company climbed 49.84% to $1.29 after the bell on Thursday following the announcement that Callan JMB signed a strategic partnership with Alabama State University to build an integrated pharmaceutical manufacturing ecosystem.
Deal Terms Could Bring In $105 Million Annually
Under the partnership, Callan JMB will provide operational support, including logistics, regulatory compliance, warehousing and supply chain management. In return, it will receive 21% of the gross revenue generated from qualifying pharmaceutical manufacturing operations.
Management believes the initiative could ultimately generate annual gross revenues approaching $500 million, representing approximately $105 million in annual revenue for the company.
