Australia's Argenica Therapeutics rises on neuro-protective drug approval

Argenica Therapeutics

02/11/2022 02:48

** Shares of Argenica Therapeutics Ltd  AGN.AX  rise as much
as 2.8% to A$0.550
    ** The Australia-based biotechnology co says it has received
approval for its neuro-protective peptide candidate, ARG-007, by
the Phase 1 Safety Review Committee (SRC) to progress to the
second escalated dose cohort  urn:newsml:reuters.com:*:nASX1fZHbh
    ** Argenica is developing novel therapeutics with ARG-007
being their lead neuro-protective peptide candidate to reduce
brain tissue death after stroke 
    ** Co adds that after an extensive review of data from the
first cohort of participants, including blood pressure, vital
signs, neurological examinations, haematology, and adverse
events, the SRC determined that there were no clinically
relevant abnormal results, and therefore the trial can progress
to the next dose escalated cohort
    ** More than 85,000 shares change hands, vs the 30-day
average volume of 58,000 shares
    ** Argenica stock down 35.9% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))