Australia's Pharmaust rises on progress on Motor Neurone Disease drug trial

Neurizon Therapeutics

27/06/2023 05:57

** Shares of Pharmaust Ltd  PAA.AX  rise as much as 10.1% to
A$0.076, set for best day since March 30, if gains hold 
    ** Clinical-stage biotechnology co provides an update on
phase 1/2 clinical trial of its drug candidate monepantel (MPL)
    ** Says all 12 patients in cohort 3 of the trial have
received initial escalated dose of MPL    
    ** Co's shares hit highest since June 19
    ** Says MPL tablets have been well tolerated by all patients
in the trial so far 
    ** MPL is a drug candidate aimed as a potential treatment
with individuals with Motor Neurone Disease 
    ** Shares of co are up 7.8% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))