Australia's Clinuvel Pharmaceuticals rises on positive update on drug development

Clinuvel Pharmaceuticals

24/06/2024 02:31

** Shares of Clinuvel Pharmaceuticals  CUV.AX  rise as much
as 4.1% to A$16.020, their highest level since April 5 
    ** Pharmaceutical co receives positive opinion for an orphan
drug designation (ODD) from the European Medicines Agency for
its afamelanotide drug 
    ** Afamelanotide is used for treatment of variegate
porphyria, a genetic disorder
    ** Says ODD enables co to receive regulatory support and
commercial incentives throughout development of the drug
    ** Stock down 3.8% this year as of last close 
   

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