Australia's Avecho Biotechnology up on ethics nod for insomnia drug trial

Avecho Biotechnology

22/12/2022 04:50

** Shares of Avecho Biotechnology Ltd  AVE.AX  rise as much
as 27.3% to A$0.014, their highest since Aug. 19
    ** Biotech firm says it has received ethics approval for its
phase-3 clinical trial testing of its oral cannabidiol (CBD)
softgel capsule for insomnia; trial will start in CY2023
    ** Stock posts biggest intraday pct gain since Dec. 13
    ** More than 3.8 mln shares change hands, vs the 30-day
average volume of 905,000 shares
    ** Stock has fallen 26.7% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))