BUZZ-Australia's Algorae Pharmaceuticals gains after positive drug assessment

Reuters

2024/11/29

** Shares of Algorae Pharmaceuticals 1AI.AX rise as much 14.35 to A$0.008, their highest levels since Nov 21

** The pharma co says it received positive outcomes from pre-clinical studies for drug candidate AI-168

** Says drug demonstrates "statistically significant" cardio-protective qualities

** Stock on track for second straight session of gains

** Over 9.6 mln shares change hands, compared with the 30-day average volume of 1.4 mln

** 1AI stock down 20% YTD

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com;))

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