Aridis Pharma rises after FDA agrees to pneumonia drug study plan

Aridis Pharmaceuticals

31/05/2023 13:59

** Shares of drug developer Aridis Pharmaceuticals Inc
 ARDS.O  gain 54.6% to 28 cents premarket
    ** ARDS is among top five most actively traded stocks across
U.S. exchanges before the bell
    ** 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 84.3% in value so far in 2023
    ** ARDS trading 97.8% below IPO price of $13/shr; Co went
public in 2018
 

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))