Australia's AdAlta eyes record jump on positive study results for fibrosis drug
06/03/2024 01:14
** Shares of AdAlta 1AD.AX rise as much as 64% to A$0.041,
posting a record intraday gain
** Stock hits its highest level since July 7, 2023
** Drugmaker says reports positive study results for its
flagship fibrosis drug AD-214
** Says results support progressing AD-214 to mid-stage
clinical studies in Idiopathic Pulmonary Fibrosis (IPF)
** Adds results also showed no evidence of antidrug antibody
mediated or other effects that might reduce efficacy of AD-214
after extended use in diseases like IPF
** Nearly 46.5 mln shares change hands, compared with the
30-day average volume of 514,461
** Stock up 4.2% YTD as of last close
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))