Australia's PYC Therapeutics jumps on positive results from PKD drug study

PYC Therapeutics

13/11/2023 03:38

** Shares of PYC Therapeutics  PYC.AX  rise as much as 13.6%
to A$0.075, their highest since July 5
    ** Stock posts its biggest intraday percentage gain since
Aug. 2
    ** Genetic disease drug maker says its new drug candidate
has disease-modifying potential for polycystic kidney disease
(PKD) 
    ** Says drug was effective on 3D models based on kidneys of
patients with end-stage renal failure due to PKD
    ** Adds study showed larger cysts in untreated models, when
compared to models treated with the new drug
    ** Nearly 5.7 mln shares change hands, compared with the
30-day average volume of 815,713
    ** Stock down ~4.4% YTD, based on last close



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