Australia's Neuren Pharmaceutical at 17-yr high, gains for fourth straight day

Neuren Pharmaceuticals

15/03/2023 03:40

** Shares of Neuren Pharmaceutical  NEU.AX  soar as much as
17% to A$11.66, their highest level since Nov 3, 2005 
    ** NEU extends gains into a fourth straight session 
    ** The biopharmaceutical co said on Monday its North
American partner Acadia Pharmaceuticals  ACAD.O  got the FDA
approval for its Rett syndrome treatment drug DAYBUE
(trofinetide)
    ** Neuren will get royalties for sales of the drug in North
America, and milestone payments 
    ** Rett syndrome is a genetic disorder that affects brain
development 
    ** Trading volumes cross 3 times the 30-day average, with
nearly 2 mln shares traded so far 
    ** Stock up 25.4% YTD, as of last close 

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