Australia's Island Pharmaceuticals jumps on acquisition of antiviral molecule

BioCryst Pharmaceuticals

11/09/2024 02:19

** Shares of Island Pharmaceuticals  ILA.AX  rise as much as
9.1% to A$0.084, their highest since June 18
    ** Drug maker says it signed a binding letter of intent at
the cost of US$50k with BioCryst  BCRX.O  for the potential
acquisition of antiviral molecule, galidesivir
    ** Stock set for best day since Aug 7, if gains hold    
    ** ILA down 1.7% YTD as of 0110 GMT

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com))