Australia's Inhalerx doubles in value on funding deal for clinical trials

Nexalis Therapeutics

18/10/2024 04:02

** Shares of Inhalerx  IRX.AX  surge as much as 127.3% to
A$0.050, their biggest pct gain since March 2020
    ** Medical device maker to get up to A$38.5 mln ($25.81 mln)
in funds from Clendon Biotech Capital to cover clinical trial
costs
    ** Stock hits its highest level since late March
    ** Around 3.7 mln shares change hands, 72.3x the 30-day avg
    ** Stock up 34.5% YTD, including current session, as at 0140
GMT
 
 ($1 = 1.4916 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))