Australia's Neuren Pharmaceuticals hits over 16-year high as partner gets FDA nod

Neuren Pharmaceuticals

13/03/2023 24:09

** Shares of Neuren Pharmaceuticals Ltd  NEU.AX  rise as
much as 27% to A$9.74, their highest since Feb. 20, 2007
    ** Biopharmaceutical co says its North America partner
Acadia Pharmaceuticals  ACAD.O  received U.S. Food and Drug
Administration (FDA) approval of DAYBUE (trofinetide)
    ** Co says approval is for "first and only approved"
treatment of Rett syndrome in adult and pediatric patients two
years of age and older
    **  Neuren retains all rights to 'trofinetide' for all
countries outside North America via an exclusive license
agreement with Acadia
    ** NEU set for best day since Dec. 7, 2021, if gains hold
    ** Stock is down 3.5% this year, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))