Australia's PharmAust hits 3-year high after FDA grants Pre-IND meeting

Neurizon Therapeutics

02/01/2024 01:16

** Shares of Australia's PharmAust  PAA.AX  rise as much as
8.7% to A$0.125, their highest since Dec. 10, 2020
    ** Stock posts its biggest intraday pct gain since Dec. 20
2023
    ** Biotechnology co says U.S. Food and Drug Administration
(FDA) granted pre-investigational new drug (Pre-IND) meeting for
monepantel for the treatment of motor neurone disease
    ** Adds meeting provides co opportunity to receive feedback
from FDA on proposed ongoing development programme to receive
accelerated approval
    ** About 241,600 shares change hands, compared with the
30-day average volume of 410,369 shares
    ** Stock more than doubled in value last year

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))