IDT Australia jumps on master service agreement with Sanofi

IDT Australia

16/04/2024 01:56

** Shares of IDT Australia  IDT.AX  rise as much as 18% to
A$0.105, set for best day since Nov. 27, 2023, if gains hold    
    ** Pharmaceutical manufacturer says it entered into a Master
Service Agreement with healthcare co Sanofi to advance
mRNA-based vaccine formulation, among others
    ** Value of services to be provided by IDT under initial
order of agreement estimated to be about A$3 million ($1.93
million) to A$3.5 million - co
    ** Stock at highest level since Feb. 9
    ** Over 836,000 shares change hands, compared with the
30-day average volume of 417,174
    ** IDT down 19.1% YTD as of last close

($1 = 1.5550 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))