Australia's Firebrick Pharma rises on filing appeal for product approval
08/07/2022 04:31
** Shares of Firebrick Pharma FRE.AX rise as much as 17.3%
to A$0.305, their best intraday session since May 16
** Says it intends to file an application to the
Administrative Appeals Tribunal (AAT) for an independent review
after the Therapeutic Goods Administration (TGA) upheld its
decision not to approve FRE's Nasodine Nasal Spray urn:newsml:reuters.com:*:nASX9kfzsG
** Nasodine aims to relieve common cold symptoms
** We strongly believe that the existing clinical data
satisfactorily establishes the efficacy of Nasodine... the AAT
review should lead to an earlier approval of Nasodine -
executive chairman Peter Molloy
** Stock hits highest level since June 16
** FRE down 42.2% since ASX listing in January, as of last
close
(Reporting by Harshita Swaminathan)
((Harshita.Swaminathan@thomsonreuters.com))