Neurosearch denies share manipulation charges

COPENHAGEN Wed May 23, 2012 3:24pm IST

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COPENHAGEN (Reuters) - Danish biopharma firm Neurosearch A/S said on Wednesday charges of share price manipulation had been filed against it, but it denied the allegations and said it was working with the authorities to clear up the matter.

Neurosearch said the charges were related to an announcement in February 2010 in which the management of the company reported top-line results from a Phase III study with its Huntington's disease drug candidate Huntexil and then two months later reassessed and corrected the data in a new announcement.

"On the present basis, Neurosearch is denying the charges and is collaborating fully with the authorities in order to resolve the matter," the company said in a statement.

(Reporting by John Acher)

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