Australia's Patrys slumps to record low as cancer antibody fails production parameters
02/10/2024 07:04
** Shares of biotech firm Patrys PAB.AX fall 50% to
A$0.003, a record low
** Stock posts biggest intraday pct fall since Nov. 11, 2008
** Co says cancer therapy antibody PAT-DX1 did not pass some
parameters in production
** Adds, it will not use the produced batch for planned
Phase-1 clinical trial in cancer patients
** Says it will now pivot towards developing therapeutic
possibilities for its other antibody, PAT-DX3
** About 24 mln shares change hands, ~28x the 30-day avg
volume
** PNB down ~63% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))