IDT Australia hits 2-week high on government grant for manufacturing facility

IDT Australia

06/05/2024 01:38

** Shares of IDT Australia  IDT.AX  jump as much as 7% to
A$0.099, their highest since April 24
    ** Pharmaceutical manufacturing co says it has received a
grant from the Victorian government for partially funding the
establishment of its antibody-drug-conjugate manufacturing
facility
    ** Funding is for IDT Australia's new A$3.8 mln ($2.51 mln)
commercial contract design and manufacturing organisation
facility in Boronia, Victoria 
    ** Stock down 15.91% this year, as of last close
    
($1 = 1.5133 Australian dollars)

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