Australia's Argenica Therapeutics tumbles as FDA halts stroke drug application

Biotech firm Argenica Therapeutics shares AGN.AX fall 10.8% to A$0.7, lowest level since May 1

Stock poised for weakest session since early April, if trends sustain

U.S. FDA holds co's Investigational New Drug Application, finding its data "inadequate" for clinical trials of acute ischaemic stroke (AIS) drug

Co says it will provide additional data to the FDA

AIS patients suffer from decreased blood flow to the brain

Trading volume at more than 113,000 shares vs 30-day avg of around 100,000 shares

Stock up 11.1% YTD, including current session's moves