Australia's Argenica Therapeutics tumbles as FDA halts stroke drug application

Argenica Therapeutics

10/06/2025 02:24

** Biotech firm Argenica Therapeutics shares AGN.AX fall 10.8% to A$0.7, lowest level since May 1

** Stock poised for weakest session since early April, if trends sustain

** U.S. FDA holds co's Investigational New Drug Application, finding its data "inadequate" for clinical trials of acute ischaemic stroke (AIS) drug

** Co says it will provide additional data to the FDA

** AIS patients suffer from decreased blood flow to the brain

** Trading volume at more than 113,000 shares vs 30-day avg of around 100,000 shares

** Stock up 11.1% YTD, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))