Australia's Bioxyne rises on deal for manufacturing psilocybin products

BLS Pharmaceuticals

14/05/2024 06:22

** Shares of Bioxyne  BXN.AX  rise as much as 16.7% to
A$0.007, on track for their best day since May 2, if gains hold
    ** Pharmaceutical co enters collaboration agreement with CY
Biopharma AG
    ** Under deal, co's unit, Breathe Life Sciences, will
manufacture and supply novel psilocybin products
    ** Says product will be supplied to the Australian, New
Zealand, U.S., and European clinical trials markets
    ** Psilocybin is a psychedelic which can be prescribed for
treatment for PTSD and treatment-resistant depression
    ** Co's shares hit highest level since May 7 
    ** Stock down 45.5% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))