BUZZ-Australia's Dimerix rises on funding boost and pipeline acquisition

Dimerix

Dimerix

DXB

0.00

** Shares of Australia's Dimerix DXB.AX rise as much as 10.4% to A$0.265, their biggest intraday pct gain since July 6

** Stock at its highest level since July 7

** DXB stock set to mark its second consecutive session of gains, if trend holds

** Stock up 2.1% in the week so far

** The clinical stage biopharmaceutical firm secures a A$10 million ($6.98 million) loan facility

** Loan facility to support commercial manufacturing of DMX-200, a pill for kidney diseases, ahead of potential marketing approval submission and preparation for commercial launch, among others

** Company separately says it expands pipeline with acquisition of DMX-652 for acute kidney injury

** Near 4.7 million shares change hands, 1.5x the 30-day average

** Stock has fallen 55.5% this year, including session moves


($1 = 1.4318 Australian dollars)