Australia's PharmAust jumps on FDA's 'orphan' tag for neuron disease drug

Neurizon Therapeutics

17/05/2024 01:57

** Shares of PharmAust  PAA.AX  rise as much as 29.7% to
A$0.240, their biggest intraday percentage gain since Feb 28
    ** Stock hits its highest level since May 1
    ** The clinical-stage biotech firm says it received orphan
drug designation from the U.S. Food and Drug Administration for
its motor neuron disease treatment drug monepantel
    ** Over 5.8 mln shares change hands, compared with the
30-day average volume of around 1.3 mln
    ** Stock up 60.9% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))