Australia's Neurizon Therapeutics slides after FDA puts drug application on hold

Neurizon Therapeutics

17/01/2025 01:31

** Shares of Neurizon Therapeutics  NUZ.AX  fall 26.5% to
A$0.125, their lowest level since Jan. 15, 2024
    ** Stock falls as much as 29.4% in its biggest intraday pct
drop since early September 2020
    ** Biotech firm receives notification from the U.S. FDA that
its investigational new drug (IND) application for NUZ-001 to
treat amyotrophic lateral sclerosis (ALS), a neurodegenerative
disease, has been put under clinical hold 
    ** IND application is a request for authorisation to
administer experimental drugs to humans
    ** Co says FDA has outlined certain concerns over
sufficiency of information to assess application
    ** More than 2.9 mln shares change hands, 7.1 times the
30-day avg
    ** Neurizon down 26.5% YTD, including current session's
moves

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))