Australia's Holista Colltech slides on dismissal of appeal
ReutersMar 10, 2025 1:43 AM
Shares of Biotech firm Holista CollTech HCT.AX fall 20% to A$0.024, set for biggest one-day drop in four months
Co says its appeal against damages totalling $2.1 mln for distribution agreement disputes with ProImmune was dismissed by the U.S. Court of Appeals
Adds that it intends to "vigorously defend" any proceedings commenced in Australia, claiming the judgment was obtained by fraud due to ProImmune's false representations
Stock slumped as much as 30% earlier in the day
Over 295,000 shares change hands, 1.2x the 30-day avg
Stock trims YTD gains to 84.6%
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