Australia's PharmAust gains on positive result for its motor neurone disease drug

Winsome Resources

06/01/2023 24:57

** Shares of PharmAust Ltd  PAA.AX  gain as much as 7.8% to
A$0.069 - set for best day since Dec. 2, if gains hold
    ** Biotech co says it completed first cohort of six patients
in its early stage trial of its drug 'monepantel' for motor
neurone disease (MND)
    ** Says the drug was tolerated by all MND patients at first
dosing level and all six patients have elected to continue on
treatment
    ** PAA hits its highest level since Dec. 13
    ** Stock fell 36% YTD in 2022
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))