** Shares of Argenica Therapeutics rise as much as 12% to A$0.745, logs biggest intraday pct gain since Aug. 14

** Drug developer reports positive results in safety studies required for Investigational New Drug application $(IND.AU)$ by the U.S. FDA for its ARG-007 drug, aimed at treating acute ischemic stroke, a form of brain stroke

** IND application is a request for authorisation to administer experimental drugs to humans

** Co says opening an IND will enable it to conduct later stage clinical trials in the U.S.

** Stock up 36.3% YTD, as at 0551 GMT

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))