Australia's Algorae Pharmaceuticals gains after positive drug assessment

Algorae Pharmaceuticals

29/11/2024 02:27

** Shares of Algorae Pharmaceuticals  1AI.AX  rise as much
14.35 to A$0.008, their highest levels since Nov 21     
    ** The pharma co says it received positive outcomes from
pre-clinical studies for drug candidate AI-168 
    ** Says drug demonstrates "statistically significant"
cardio-protective qualities
    ** Stock on track for second straight session of gains
    ** Over 9.6 mln shares change hands, compared with the
30-day average volume of 1.4 mln
    ** 1AI stock down 20% YTD
    
    
    

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))