No alternative for Phosphagenics
Wednesday, 24 September, 2008
Phosphagenics (ASX: POH) will cease trading on the Alternative Investment Market (AIM) of the British stock exchange.
According to Phosphagenics, monthly turnover of the company's AIM shares has decreased since listing four years ago, whereas turnover on the company's ASX shares have increased.
The Melbourne company has begun a Phase I clinical trial of its patented delivery system, TPM, for the topical delivery of the pain relief drug lidocaine.
The trial is being conducted at the Centre for Pharmaceutical Research at the University of South Australia.
The company expects early results in the first quarter of 2009.
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