BUZZ-Australia's Proteomics International Laboratories slumps on terminating US licensing deal

Reuters
2024-09-11

** Shares of Proteomics International Laboratories fall as much as 19.5% to A$0.700, their lowest since Aug. 17, 2023

** Stock posts its biggest intraday percentage decline since March 18

** Medical technology co says it has terminated its agreement with Sonic Healthcare USA for the use and commercialisation of its predictive test for diabetic kidney disease in the U.S.

** About 727,000 shares change hands, compared with the 30-day average volume of around 148,000

** Stock down 14% YTD, including session's move

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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