Australia's Argenica Therapeutics jumps on positive test results for FDA application

Argenica Therapeutics

25/09/2024 07:08

** Shares of Argenica Therapeutics  AGN.AX  rise as much as
12% to A$0.745, logs biggest intraday pct gain since Aug. 14
    ** Drug developer reports positive results in safety studies
required for Investigational New Drug application (IND) by the
U.S. FDA for its ARG-007 drug, aimed at treating acute ischemic
stroke, a form of brain stroke  
    ** IND application is a request for authorisation to
administer experimental drugs to humans
    ** Co says opening an IND will enable it to conduct later
stage clinical trials in the U.S.
    ** Stock up 36.3% YTD, as at 0551 GMT

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))