Malta opposes European approval for Amoeba's biocide, shares slump

Amoeba SA

04/05/2022 09:21

** Shares in French biological products firm Amoeba
 ALMIB.PA  tumble 15%, after the Maltese consumer and
competition authority (MCCAA) recommended the non-approval of a
biocide active substance for the European territory
    ** The firm was seeking approval for Willaertia magna C2c
Maky, an amoeba which has a biocidal effect on water-borne
bacteria, for use in cooling towers
    ** This unfavourable decision "goes against the objectives
of the European Commission," the group's CEO Fabrice Plasson
said in a statement https://amoeba-nature.com/wp-content/uploads/2022/05/220503_AMOEBA_Malte_unfavorable_report_evaluation_EN-Vfin.pdf,
 while the firm's Regulatory Director Jean-Baptiste Eberst calls
it an "outcome tinged with misunderstanding"
    ** Shares are on track for their worst day in more than two
years

 (Reporting by Dagmarah Mackos)
 ((Dagmara.mackos@tr.com))