U.S.-listed shares of Australia-based Bionomics rise by 26.9% to $1.23 in premarket trading.

The company has reported that its experimental drug to treat post-traumatic stress disorder (PTSD) demonstrated a reduction in the severity of symptoms during a mid-stage study.

The drug candidate, referred to as BNC210, also showed improvements in depressive symptoms and better sleep.

The company confirmed that BNC210 was found to be safe and was well-tolerated within their study.

Bionomics plans to advance their drug candidate, BNC210, into registrational studies as a treatment for PTSD.

Up to the last close, Bionomics' U.S.-listed shares have been down approximately 79% year-to-date.

Bionomics is an Australian company that develops drugs to treat serious neurological conditions.