Australia's Alterity Therapeutics hits record low on discounted placement

Alterity Therapeutics

22/11/2023 01:16

** Shares of Alterity Therapeutics  ATH.AX  fall as much as
42.9% to a record low of A$0.004    
    ** Stock faces its worst day since July 2, 2020, if losses
hold
    ** The biotechnology co says it received firm commitments to
raise A$4.8 mln ($3.12 mln) at an issue price of A$0.0035 per
share
    ** Issue price represents a 50% discount to stock's last
close
    ** More than 22.9 mln shares change hands, 14.4x the 30-day
average volume of 1.6 mln shares
    ** Stock down 30% this year, as of last close

    ($1 = 1.5366 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))