Australia's Neuren set for weekly gain on FDA nod, drug forecast upgrade
06/11/2026 04:26
BUZZ-Australia's Neuren set for weekly gain on FDA nod, drug forecast upgrade ** Australia's Neuren Pharmaceuticals NEU.AX shares rise around 14%, set for best weekly performance in about three months if gains hold
** Biopharma firm on Monday said the US FDA grants Orphan Drug designation for NNZ-2591 to treat neonatal hypoxic-ischemic encephalopathy, a brain injury caused when a baby's brain does not receive enough oxygen or blood flow
** On Thursday, co upgraded 2026 income forecast for its Rett Syndrome drug trofinetide (DAYBUE) to $91 million-$93 million from $53 million-$56 million
** About 804,000 shares change hands, 2.2 times the 30-day avg
** Shares are up about 25% YTD, including moves in current session
(Reporting by Swetha Lakshmi in Bengaluru)
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