Neuren Pharmaceuticals tops benchmark after US partner sells FDA review voucher

Acadia Pharmaceuticals

05/11/2024 23:42

** Shares of Australia's Neuren Pharmaceuticals  NEU.AX 
rise as much as 6% to A$13.00, marking their biggest intraday
gain since Sept. 27
    ** NEU top gainer in the ASX200 benchmark index  .AXJO 
    ** NEU, which develops therapies for neurodevelopmental
disorders, says U.S. partner ACADIA Pharmaceuticals  ACAD.O  to
sell a rare pediatric disease priority review voucher (PRV) for
$150 mln
    ** An entity that receives a PRV for a rare pediatric
disease drug by the U.S. FDA can use that voucher to receive a
priority review for a different product
    ** FDA granted the PRV following the approval of DAYBUE to
treat Rett syndrome — a rare genetic neurological disorder
    ** NEU will receive one-third of the proceeds from the sale
of the voucher
    ** NEU down 48% YTD, including session's moves

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))