Incannex Healthcare jumps most in about 3 yrs on acquisition
05/08/2022 03:45
** Shares of cannabis pharma co Incannex Healthcare IHL.AX
soar as much as 35.6% to A$0.305, eyeing their best session
since Aug. 9, 2019, if gains hold
** IHL says it has finalised acquisition of biotech co APIRx
Pharmaceuticals urn:newsml:reuters.com:*:nASX1rbk7c
** Twenty-two additional clinical and pre-clinical research
and development projects, inclusive of 19 granted patents and 23
pending patents, transferred to IHL following acquisition- co
** Additional projects represent an aggregate addressable
market of about $400 bln per annum
** Shares hit their highest levels since June 10
** Stock notches its fourth straight day of gains
** More than 7.6 mln shares change hands, compared with the
30-day average volume of about 3.4 mln shares
** Stock has fallen about 64% this year, as of last close
(Reporting by Anan Ashraf in Bengaluru)
((Anan.Ashraf@thomsonreuters.com;))
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