Australia Medical Developments chases best day in almost 12 years on FDA nod for trial

Medical Developments International

02/03/2022 24:34

** Medical Developments International  MVP.AX  soars as much
as 32% to A$4.50, marking its biggest intraday pct jump since
May 2010
    ** Says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02494576-3A588952?access_token=83ff96335c2d45a094df02a206a39ff4
 U.S. FDA unconditionally lifted its clinical hold on Penthrox,
an inhaled medication used to reduce pain following trauma
    ** Says it can begin preparing for its phase-3 U.S. clinical
trial, to be conducted on a targeted trauma and associated pain
patient group
    ** Expects recruitment for the two-year trial to start later
this year
    ** MVP hits its highest since Feb. 7; top percentage gainer
in the ASX All Ordinaries index  .AORD 
    ** About 292,000 shares change hands, vs the 30-day average
of 72,000 shares
    ** Stock down 31.8% this year, as of last close, vs a 5.1%
decline in the ASX All Ordinaries index

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))