UK's Roquefort Therapeutics surges on proposed sale of unit Lyramid

Coiled Therapeutics

02/01/2025 08:26

** Shares of Roquefort Therapeutics  ROQ.L  surge as much as
35.8% to 5.5p, among top pct gainers across London
    ** The biotech firm, focused on developing medicines in
immunology and oncology markets, to sell its unit Lyramid to
Pleiades Pharma for a minimum of $10 mln
    ** ROQ says parties to sign a binding agreement in 30 days,
after which further details will be disclosed
    ** Stock had fallen ~44% in 2024

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))