New Zealand's Rua Bioscience surges most to date on UK distribution deal

Rua Bioscience

13/07/2026 02:04

** Shares of Rua Bioscience RUA.NZ rise 41.4% to NZ$0.041, hitting their highest since January 26
** Stock on track for strongest trading session to date, if gains hold
** Medical cannabis firm signs sales and distribution agreement with an unnamed cannabis clinic and distribution business in the UK
** Says deal is expected to generate revenue of more than NZ$10 million ($5.75 million) over the initial two-year term
** Adds partnership gives Rua immediate access to an established clinic network, pharmacy relationships, and prescriber connections that would take years to build independently
** More than 13.9 million shares change hands, 12 times the 30-day average
** Stock up 46.4% YTD, including the day's moves
     
($1 = 1.7391 New Zealand dollars)

(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))