Cynata Therapeutics jumps most in nearly 8 months on U.S. FDA clearance

Cynata Therapeutics

26/05/2022 04:23

** Shares of the Australian biotech firm  CYP.AX  jump as much
as 11.1% to A$0.4, on track for their biggest single-day pct
jump since Sept. 2021 
    ** Co says U.S. Food and Drug Administration has cleared the
investigational new drug application for co's phase-2 clinical
trial of co's lead product CYP-001  urn:newsml:reuters.com:*:nASX3Nx8gW
    ** Says CYP-001 drug can help patients with acute graft
versus host disease, where an organ donor's immune cells attack
the recipient of the transplant  
    ** Shares hit their highest levels since April 21 
    ** More than 276,000 shares change hands as compared with
the 30-day average volume of ~85,100 shares  
    ** Stock down 33.9% this year, as of last close, vs a 4.3%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))