By Kyle Morris

Shares in MGC Pharmaceuticals Ltd. rose 13% in early trade Tuesday after the company said that it has completed the preclinical rodent studies on CimetrA, an important step ahead of submission to the U.S. Food and Drug Administration for Investigational New Drug approval.

The pharmaceutical company said that CimetrA is its proprietary investigational medicinal product which has demonstrated anti-inflammatory and immunomodulating properties.

Shares at 0820 GMT were up 0.08 pence at 0.65 pence.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

January 10, 2023 03:45 ET (08:45 GMT)

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