Australia's Starpharma rises on cost-cutting measures

Starpharma Holdings

22/05/2024 03:28

** Shares of Starpharma  SPL.AX  rise as much as 6.8% to
A$0.118, set for best day since April 24, if gains hold     
    ** Biopharmaceutical co says it is conducting a review of
strategy and operations to increase revenue and reduce costs
    ** Adds it has implemented changes that are expected to
reduce fixed costs by A$2 million ($1.34 million) by FY25     
    ** SPL down 35.3% YTD as of last close

($1 = 1.4966 Australian dollars)

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