Australia's Patrys tumbles on manufacturing delays of cancer treatment
03/08/2021 03:25
** Shares of Patrys Ltd PAB.AX sink as much as 16.3% to
A$0.041, their biggest intraday pct fall since Sept. 16, 2020
** The cancer therapy developer says it was informed by its
manufacturer that delays are anticipated in procuring key
components required for the production of cancer therapy PAT-DX1
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** Says delays are due to the impact of the COVID-19
pandemic on global reagent production and supply chains
** Adds the engineering run for PAT-DX1 is now anticipated
to be delayed until Q4 and the start of good manufacturing
practice toxicology studies rescheduled to Q1 2022
** Expects to now submit human research ethics application
for phase 1 clinical study in H2 CY2022
** Stock at its lowest level since June 17
** Co says in a range of pre-clinical studies, PAT-DX1 has
shown significant ability to kill cancer cells in cell models,
human tumour explants, among others
** About 40 mln shares change hands, vs the 30-day average
volume of 20 mln shares
** PAB stock has more than doubled this year, as of last
close
(Reporting by Harish Sridharan in Bengaluru)
((harish.sridharan@thomsonreuters.com))