Australia's Memphasys climbs most in 3 months on Hydrix compensation for delay

Memscap SA

01/09/2021 05:36

** Medical device maker Memphasys Ltd's  MEM.AX  shares
climb 11.9% to A$0.07
    ** Memphasys shares post biggest intraday pct gain since May
26
    ** Company says engineering flaws with its Felix device
identified in March have been fully rectified with engineering
and design partner Hydrix  urn:newsml:reuters.com:*:nASX9Mb5Gm  urn:newsml:reuters.com:*:nASX5g36XP
    ** Hydrix to compensate Memphasys for the delay to initial
commercial sales of the device with A$500,000 cash reimbursement
and 1 mln HYD shares
    ** About 687,000 MEM shares change hands vs 30-day average
of about 314,000 shares
    ** Memphasys shares down 41% so far this year, as of
Tuesday's close

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