Australia's Chimeric Therapeutics gains as FY loss narrows

Chimeric Therapeutics

30/08/2024 05:45

** Shares of Chimeric Therapeutics  CHM.AX  rise as much as
18.8% to A$0.019, their highest levels since Aug 16
    ** The biotech firm posts FY loss of A$12.5 mln ($8.50 mln),
compared with a loss of A$25.9 mln
    ** Co says decreased loss largely relates to scale-down of
headcount, reduction of general administration expenses and
reprioritisation of projects
    ** About 2.1 mln shares change hands, 1.8 times the 30-day
average volume of shares
    ** Stock has fallen 54.2% this year, as of last close
    
    ($1 = 1.4699 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))