Australia's MGC Pharmaceuticals jumps on FDA approval in Saudi Arabia

Argent BioPharma

19/12/2023 03:43

** Shares of Australia's MGC Pharmaceuticals  MXC.AX  rise
as much as 6.3% to A$0.51, their biggest intraday gain since
Nov. 16
    ** Stock posts its highest level since Dec. 13
    ** Biopharma co says it has been granted approval for its
proprietary product Artemic by the Food and Drug Authority in
the Kingdom of Saudi Arabia
    ** Artemic is a nutraceutical mouth spray that helps in
recovering from COVID-19 symptoms
    ** Still, stock down 95.6% YTD as of last close

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))