Australia's Imugene drops on plans to sell North Carolina manufacturing facility

Imugene

16/04/2024 01:57

** Shares of Australia's Imugene  IMU.AX  fall as much as
5.5% to A$0.086, their lowest since Dec 14, 2023
    ** Co says U.S.-based Kincell Bio will acquire its North
Carolina manufacturing facility for up to $6 mln
    ** Co also announces strategic partnership with the
U.S.-based cell therapy development firm
    ** Adds deal is expected to recognize $32 mln in staff cost
reductions for co
    ** Stock has fallen 17.3% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))