Aridis Pharma gains after FDA nod to pneumonia drug study plan

Aridis Pharmaceuticals

31/05/2023 16:55

(Updates)
    ** Shares of drug developer Aridis Pharmaceuticals Inc
 ARDS.O  more than double to 40 cents 
    ** ARDS is the most actively traded stocks across U.S.
exchanges, with 124 mln shares traded, 496 times their 25-day
moving average
    ** ARDS says the U.S. FDA agreed on the design of co's
late-stage study of its experimental pneumonia treatment,
AR-301, required to support the drug's marketing application
    ** Study's main goal to be tested among older adults 65
years of age and above, says co
    ** ARDS received a setback in March when it put a clinical
trial of another investigational pneumonia drug on hold amid a
license dispute and shifted focus to AR-301 and other drug
candidates
    ** ARDS shares suffered their worst quarterly drop ever in
Q1 and have lost 67% in value so far in 2023
    ** ARDS trading 97% below IPO price of $13/share; co went
public in 2018

 (Reporting by Amruta Khandekar and Aditya Samal)
 ((Amruta.Khandekar@thomsonreuters.com;))