BUZZ-Australia's LBT Innovations soars on sale of instruments

Reuters
07 Aug 2024

** Shares of LBT Innovations rise as much as 73.3% to A$0.026, their highest since April 5

** Stock posts its biggest intraday pct gain since March 13

** Medical technology firm says it has signed agreement to sell five APAS Independence instruments to AstraZeneca with total contract value between $2.2 mln and $2.7 mln

** APAS Independence is an in vitro diagnostic instrument for the automated imaging, analysis and interpretation of agar culture plates

** About 9.9 mln LBT shares change hands, compared with the 30-day average volume of 1.5 mln

** Stock had risen 36.4% this year, as of last close

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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