Bod Australia hits over 7-month high on CBD medicine supply deal

Bod Science

02/12/2022 04:48

** Shares of Bod Australia Ltd  BOD.AX  rise as much as 9.7%
to A$0.170, their highest since April 21
    ** Stock posts its biggest intraday pct gain since Nov. 23
    ** The hemp healthcare products firm says it entered an
exclusive licence and supply agreement with over-the-counter
medicines firm Arrotex Pharmaceuticals 
    ** Bod will develop Schedule 3 CBD medicine for Arrotex, for
an upfront fee of A$500,000; supply agreement for 5 years 
    ** More than 324,000 shares change hands, vs the 30-day
average volume of 216,000 shares
    ** Stock has fallen 34.6% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))