Australia's Botanix Pharmaceuticals stumbles on discounted placement

Botanix Pharmaceuticals

27/11/2023 02:17

** Shares of Botanix Pharmaceuticals  BOT.AX  fall as much
as 9.7%% to A$0.140, posting their biggest percentage fall since
Sept. 27
    ** Shares hit their lowest level since Nov. 16
    ** Dermatology co says it will raise about A$13.5 mln ($8.79
mln) via placement at an offer price of A$0.13 per new share
    ** Offer price represents a 21.2% discount on co's last
close on Wednesday
    ** Shares had been on a trading halt on Thursday and Friday
    ** Nearly 3.2 mln shares change hands, compared with the
30-day average volume of about 2.4 mln 
    ** Stock up 192.5% YTD, based on last close

($1 = 1.5366 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))