Australia's Cyclopharm hits near 3-year high on US FDA approval

Cyclopharm

02/10/2023 24:52

** Shares of Cyclopharm  CYC.AX  jump as much as 11.3% to
A$3.150, their highest level since Jan 28, 2021
    ** Medical equipment and technology provider says co has
received U.S. Food and Drug Administration (USFDA) approval to
commence commercial sales of Technegas in the U.S. market
    ** Co says Technegas used for diagnosis and managament of
pulmonary embolism, commonly known as lung artery blockage
    ** 172,232 shares change hands, 5.4x the 30-day average
volume of 32,360 shares
    ** Stock has more than doubled in value this year as of last
close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))