Healthcare was one of the only three sectors trading in the green on the ASX at midday Thursday, at 0.5%.
Neuren Pharmaceuticals (ASX:NEU) said the US Patent and Trademark Office allowed its application covering the use of NNZ-2591 to treat Pitt-Hopkins syndrome, a rare genetic condition, to be issued as a patent. Once issued, the patent is set to expire in April 2040. Its shares soared over 9% in recent trading.
On the flip side, the information technology sector fell almost 2%, dragged down by sector heavyweight Xero (ASX:XRO), which fell almost 5% in recent trade.
The software giant received commitments to raise AU$1.85 billion through the placement of 10.5 million shares at AU$176 apiece. The proceeds will fund the company's acquisition of fintech firm Melio and its associated entities, along with transaction costs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.