Australia's PYC Therapeutics jumps most in about 11 mths on FDA clearance

PYC Therapeutics

06/03/2023 04:31

** Shares of PYC Therapeutics  PYC.AX  climb as much as 14%
to A$0.098, their highest level since April 19, 2022
    ** Clinical-stage biotech co says U.S. Food and Drug
Administration cleared Investigational New Drug application for
its potential drug candidate, VP-001
    ** Says drug directed towards treatment of Retinitis
Pigmentosa type 11 - a blinding eye disease that begins in
childhood and ultimately leads to legal blindness in middle age
    ** Co says it has now applied for human ethics approval
before commencing to enrol patients in clinical trial 
    ** Shares post biggest intraday pct gain since Jan. 24
    ** Stock on track for a third consecutive session of gains 
    ** Volumes are 4x the 30-day average of about 1.1 mln shares
    ** Stock has risen 24.6% YTD, as of last close
    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))