Australia's Cyclopharm jumps on final review for FDA nod on medical device

Cyclopharm

30/03/2023 04:03

** Shares of Cyclopharm Ltd  CYC.AX  jump as much as 7% to
A$1.60, their highest since Jan. 17
    ** Health technology company says entered final review
process for attaining U.S. FDA approval to commence commercial
sales of its proprietary functional lung ventilation imaging
agent Technegas in U.S. market in 2023
    ** Expects to maintain active dialogue with U.S. FDA in
six-month review period
    ** Sales of Technegas in U.S. are expected to commence in
late 2023
    ** Stock posts its biggest intraday pct gain since Feb. 10
    ** More than 12,630 shares change hands, vs the 30-day
average volume of 11,050 shares
    ** Stock up 27.8% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))