Australia's Neurotech International jumps on FDA orphan tag for Rett Syndrome drug

Neurotech International

26/11/2024 24:30

** Shares of Neurotech International  NTI.AX  rise as much
as 10.6% to A$0.073, posting their biggest intraday percentage
gain since Aug. 14
    ** Stock hits its highest level since Sept. 9
    ** Biopharmaceutical co says the U.S. Food and Drug
Administration granted the orphan drug status to its NTI164
drug, aimed at treating Rett Syndrome 
    ** FDA grants orphan drug status to promote drug development
for rare diseases affecting fewer than 200,000 people in the
U.S.
    ** About 1.6 mln shares change hands, compared with the
30-day average volume of around 601,000
    ** Stock up 1.5% YTD, including session's move



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