NZ'S AFT Pharmaceuticals gains on partnering for injectable launch

AFT Pharmaceuticals

21/10/2024 01:01

** Shares of AFT Pharmaceuticals  AFT.NZ  gains as much as
2.2% to NZ$3.30, their highest level since Sept 17 
    ** Shares post their biggest intraday gain since early-Oct
    ** The pharmaceutical co says it has entered into an
agreement with two European partners to complete the development
of a novel injectible medicine for a global launch
    ** Says agreement involves a Phase III clinical trial with
shared costs and potential for early income through
out-licensing
    ** Adds agreement conditional on partners concluding a
satisfactory European Medicines Agency and a U.S. FDA meeting
prior to 31 March 2025, among others 
    ** As at 2348 GMT, stock down 6.6% YTD

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))