Australia's Argent BioPharma rises most in over 3 months on premium capital raising

Argent BioPharma

07/01/2025 02:50

** Shares of Argent BioPharma  RGT.AX  rise as much as 52.9%
to A$0.260, their biggest intraday pct gain since Oct 1, 2024
    ** The clinical-stage biopharma co completes $4.5 mln
capital raise at $0.40 per share
    ** Issue price represents a premium of 276.5%, compared with
stock's last closing price of A$0.17
    ** Says placement will help advance co's drug development
pipeline, with focus on clinical studies for CannEpil - a
seizure-control treatment  for refractory epilepsy and cerebral
palsy
    ** Stock hits its highest level since Dec 2
    ** About 231,485 shares change hands, 13.2 times the 30-day
average volume of 17,562 
    ** Stock fell 64.2% in 2024


 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@ThomsonReuters.com))