Australia's Argenica Therapeutics falls on discounted placement

Argenica Therapeutics

12/04/2024 01:50

** Shares of Argenica Therapeutics  AGN.AX  fall as much as
14.2% to A$0.545, set for worst day since Jan. 17, if losses
hold    
    ** Drug developer says it completed A$12.0 mln ($7.84 mln)
placement 
    ** Funding to complete its Phase 2 trial of neuroprotective
drug ARG007 in ischaemic stroke patients - co
    ** Issue price of A$0.52 per share represents a discount of
18.1% to stock's last close
    ** Stock hits lowest level since Feb. 16    
    ** About 269,200 shares change hands, compared with the
30-day average volume of nearly 137,100
    ** AGN up 24.5% YTD, as of last close

($1 = 1.5298 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))