Australia's Cynata Therapeutics rises on grant for heart diseases drug study

Cynata Therapeutics

26/09/2022 04:08

** Shares of Cynata Therapeutics  CYP.AX  rise as much as
3.2% to A$0.33, tracking their best day since Sept. 9, if gains
hold
    ** Biotech firm receives ~A$1 mln ($651,800) grant from
Australian Government National Health and Medical Research
Council (NHMRC) to examine mesenchymal stem cells (MSCs) and
treat ischaemic heart disease (IHD)
    ** Says MSCs are cell therapy products showing positive
results in pre-clinical model of cardiovascular disorders
    ** Study to assess CYP's Cymerus MSCs in delivery of
bioactive molecules after being implanted below the skin 
    ** CYP shares hit highest since Sept. 19; set for a second
straight day of gains
    ** Stock down 41.3% this year, as of last close
($1 = 1.5342 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))