Australia's Argenica Therapeutics sinks on discounted placement

Argenica Therapeutics

03/06/2022 02:20

** Shares of biotech co Argenica Therapeutics  AGN.AX  slide
as much as 7.2% to A$0.45, their worst intraday session since
May 10 
    ** Says it got binding commitments to raise A$5.5 million
($3.99 million) in a share placement  urn:newsml:reuters.com:*:nASX2fRY5B 
    ** Placement at A$0.40 per share, a 17.5% discount to the
stock's last close 
    ** Co to use placement proceeds towards studies on traumatic
brain injury, stroke patients 
    ** AGN down 41.9% YTD, as of last close 



($1 = 1.3770 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))