Shares in ValiRx PLC (AIM:VAL) fell 13% on Tuesday following the life sciences company’s quarterly operational and strategy update.
Within the update, ValiRx announced an extension of its evaluation agreement with Hokkaido University allowing ValiRx to conduct further experimental testing on a drug candidate.
To date the work has consisted of product development planning and process development of manufacture; biological testing will shortly be initiated.
AIM-listed VAL shares are down 65% year to date with a market capitalisation of £12mln.