Australia's AdAlta hits 2-month low on discounted placement

Adalta

04/05/2026 06:03

** Shares of AdAlta 1AD.AX fall as much as 20% to A$0.004, biggest intraday pct loss since March 5

** Biotech firm says it would raise A$2.5 million ($1.80 million) through placement

** Offer price of A$0.004/share marks 20% discount to firm's last close

** Says placement funds to be used to advance development of its lung cancer treatment therapy

** Stock up 33.3% YTD

($1 = 1.3877 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))