Australia's Arovella Therapeutics gains on licence to develop cancer cell therapy

Arovella Therapeutics

12/10/2023 01:13

** Shares of Arovella Therapeutics  ALA.AX  rise as much as
20.5% to A$0.094, their highest level since April 17
    ** Biotechnology co says it has signed a global, exclusive
license agreement with Sparx Group for the use of a novel
monoclonal antibody SPX-101
    ** Says co will use SPX-101 to develop a cell therapy to
target gastric cancer, gastroesophageal junction cancer,
pancreatic cancer, and other solid tumours
    ** About 8.9 mln shares change hands, compared with the
30-day average volume of 3.2 mln
    ** Stock had more than tripled in value this year, as of
last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))