Australia's Island Pharma slumps on delay to potential dengue preventative trials

Island Pharmaceuticals

20/09/2021 05:38

** Shares of Australia's Island Pharmaceuticals  ILA.AX 
fall as much as 6.85% to A$0.34, biggest single-day percentage
drop since Aug. 16 
    ** Co signs one-off purchase agreement for a pharmaceutical
ingredient with Curia Inc, Inc for $431,300 to replace previous
deal with CerRx, Inc to manufacture drug substance for potential
preventative for dengue fever  urn:newsml:reuters.com:*:nASX73h99h 
    ** Expects short delay to trial enrolment, to begin in early
Q1 2022 instead of the previously anticipated late Q4, 2021
    ** CerRx deal cancelled at no cost to ILA due to inventory
error at CerRx's third-party storage facility
    ** About 195,000 shares have changed hands, compared with
the 30-day average of about 143,000 shares 
    ** Stock listed on ASX on April 13
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))