Australia’s Creso Pharma jumps as co no longer under ASIC investigation

Melodiol Global Health

22/11/2022 02:54

** Shares of Creso Pharma Ltd  CPH.AX  soar as much as 70%
to A$0.034, set for its best day since Dec. 2020 if gains hold
    ** The cannabis-focused biotech firm says that it is not the
subject of the investigation of Australian Securities and
Investments Commission (ASIC)  urn:newsml:reuters.com:*:nASX3TSX6y
    ** CPH was served notice of ASIC investigation last November
concerning trading in its securities by external parties
    ** Adds that ASIC confirmed that co’s Chief Financial
Officer Chris Grundy and two other directors are not persons of
interest in investigation
    ** Says ASIC investigation is ongoing and corporate
regulator may change the scope of probe at any time
    ** CPH at its highest level since Oct. 14, 2022
    ** About 58.3 mln shares change hands, vs 30-day average of
8.6 mln
    ** Stock is down 75.6% this year, as of last close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))