Australia's Dimerix jumps most in 10 years on drug commercialisation license

Dimerix

05/10/2023 01:36

** Shares of Dimerix  DXB.AX  jump as much as 129.5% to
A$0.140, their biggest intraday pct gain since Feb 2013
    ** Biopharmaceutical co says it has entered exclusive
license agreement with ADVANZ PHARMA Corp 
    ** Says agreement is for commercialisation of co's Phase 3
drug candidate DMX-200 for the European Economic Area, UK,
Switzerland, Canada, Australia and New Zealand 
    ** Co's DMX-200 is for the treatment of focal segmental
glomerulosclerosis (FSGS) kidney disease
    ** Adds co to receive up to A$230 mln ($145.48 mln) in
upfront and milestone payments, plus royalties
    ** About 11.5 mln shares change hands, compared with the
30-day average volume of 222,253
    ** Including today's gain, stock down 1.4% YTD 
 


($1 = 1.5810 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))