Aridis Pharmaceuticals falls on pausing pneumonia drug study

Aridis Pharmaceuticals

29/03/2023 13:06

** Shares of Aridis Pharmaceuticals Inc  ARDS.O  down 3.06%
at $0.38 premarket
    ** Company says due to termination of license agreement with
MedImmune Ltd, its drug AR-320 must be put on clinical hold
    ** AR-320 is being studied as a prevention against a
bacteria called S.aureus, which is a leading cause of
hospital-acquired lower respiratory tract infections such as
ventilator-associated pneumonia
    ** On March 20, Aridis got written notice from MedImmune
that it has terminated license agreement; termination effective
March 30
    ** ARDS says it does not agree that it is in material breach
of license agreement
    ** Aridis shares fell ~49% in 2022

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com))