Australia's Resonance Health jumps most in 1-1/2 years on drug trial deal

Resonance Health

18/08/2023 03:23

** Shares of Resonance Health  RHT.AX  rise as much as 35.4%
to A$0.088, posting their biggest intraday pct gain since Dec.
30, 2021 
    ** Stock hits its highest level since June 3, 2022
    ** Medical tech co says it has been contracted by Sun
Pharmaceutical Industries  SUN.NS  to provide clinical research
organisation (CRO), laboratory analysis, and imaging services
for their clinical trial in Australia of a new drug compound
    ** Says clinical trial agreement is worth an estimated
A$6.33 mln ($4.07 mln) in revenue over next 18 months 
    ** Stock up 8.3% this year, as of last close


($1 = 1.5567 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))