STOCKS NEWS EUROPE-AB Science rises on drug application

Shares in AB Science gain 13 percent after the French biotech says the European Medicines Agency has accepted its marketing application for Masitinib in the treatment of patients with a type of gastro-intestinal cancer.

"The fact that it is agreeing to study this application is good news in itself as it implies that regulatory authorities think it is potentially eligible on the basis of the data presented," Portzamparc analyst Arnaud Guerin writes in a note.

AB Science shares are among the biggest gainers on the French CAC mid and small index since the start of the year, having gained 98 percent, valuing the company at 370 million euros.

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