Australia's Adalta soars on promising data from drug clinical study

Adalta

07/07/2023 03:49

** Shares of Adalta  1AD.AX  rise as much as 60% to A$0.048,
their highest level since Dec. 12, 2022
    ** Co says new data shows evidence that administration of
its AD-214 drug every two weeks could be clinically feasible
    ** Says findings de-risk and improve confidence in AD-214
Phase II clinical study dosing regimens
    ** Adds AD-214 is designed to treat fibrotic diseases such
as idiopathic pulmonary fibrosis
    ** Stock posts biggest intraday jump since Jan. 25
    ** About 4.2 mln shares change hand at 0231 GMT compared to
30-day average trading volume of 294,510 shares
    ** Stock down 26.8% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))