Australia's Algorae Pharmaceuticals gains on Peter MacCallum Cancer Centre partnership

Algorae Pharmaceuticals

16/10/2026 05:37

** Shares of Australia's Algorae Pharmaceuticals 1AI.AX  rise as much as 5.6%, hitting their highest since September 30 
** Stock on track for best week in three-and-a-half months
** AI-enabled pharmaceuticals co enters into partnership with Australia-based Peter MacCallum Cancer Centre 
** Says partnership to test co's 40 AI-identified cancer drug combinations across four cancer types
** Says project expected to be complete in six months
** Stock down 32.1% YTD, including session's moves

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))