Australia's Alterity Therapeutics falls on discounted placement

Alterity Therapeutics

10/02/2025 02:05

** Shares of Australia's Alterity Therapeutics  ATH.AX  fall
as much as 8.3% to A$0.011, on track for a third consecutive
session of decline
    ** Stock hits its lowest level since Jan. 31
    ** Biotechnology co raises A$40.0 mln ($25.02 mln) in a
placement at an issue price of A$0.011 per share
    ** Issue price represents a discount of 8.3% to stock's last
close
    ** Co says funds will be used primarily to advance
development of ATH434, a small molecule drug candidate for
Parkinsonian disorders
    ** Stock up 43.8% this year, as of 0159 GMT
    
($1 = 1.5990 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))