Australia's Radiopharm Theranostics gains on FDA nod for imaging agent trial

Radiopharm Theranostics

23/07/2024 03:43

** Shares of Radiopharm Theranostics  RAD.AX  rise as much
as 7.9% to A$0.041, their highest level since June 27
    ** Shares on track for best day since July 11, if current
gains hold
    ** Radiopharmaceutical products maker says it has received
clearance from the US Food and Drug Administration (FDA) for its
investigational new drug (IND) application for F18-Pivalate (RAD
101)
    ** Imaging agent Pivalate is a small molecule that
selectively targets fatty acid synthetase, which is
overexpressed in brain tumours but not in normal cells - co
    ** Says IND approval means nod for Phase 2b multi-center
trial for the imaging of brain metastases or cancer cells that
spread from one body part to the brain
    ** About 8.4 mln shares change hands by 0220 GMT, three
times the 30-day average volume
    ** Stock had fallen 48.7% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))