Drugs research firm’s shares surge 50%

SHARES in EiRx Therapeutics, the Cork-based pharmaceutical research company, surged almost 50% on their first day on London’s Alternative Investment Market yesterday.

“We’re absolutely thrilled, said Dr Ian Hayes, EiRx’s chief executive after the company’s share price reached 7.44p in trading yesterday afternoon.

Earlier in the day, EiRx successfully placed over 15 million shares at a price of 5p, raising stg£784,000 (€1.1 million) before costs.