Australia's PharmAust rises on ALS treatment drug's entry into a trial

Neurizon Therapeutics

15/07/2024 04:45

** Shares of PharmAust  PAA.AX  rise as much as 7.32% to
A$0.22, their highest level since June 24
    ** Co says its investigational drug, monepantel has been
accepted into the HEALEY ALS Platform Trial in the US
    ** The clinical-stage biotech firm says the selection
provides independent validation on monepantel's potential as a
treatment for amyotrophic lateral sclerosis (ALS), a motor
neurone disease
    ** Adds, the selection marks an important step to seeking
FDA approval for the drug
    ** Stock has risen 78.26% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((sherin.sunny@thomsonreuters.com))