Australia-based Botanix Pharmaceuticals falls on discounted placement

Botanix Pharmaceuticals

02/09/2022 02:22

** Shares of Australia-based dermatology-focused co Botanix
Pharmaceuticals Ltd  BOT.AX  fall as much as 11.3% to A$0.071,
lowest since July 25
    ** Co receives firm commitments to raise up to A$7.5 mln 
($5.09 mln) from investors  urn:newsml:reuters.com:*:nASX8f450y
    ** Perth-based co places 113.6 mln shares at A$0.066 per
share, a 17.5% discount to last close
    ** Says funds raised will be used towards costs associated
with the filing for FDA approval of Sofpironium Bromide
    ** Stock posts its biggest intraday pct fall since June 14
    ** Stock down 8.8% so far this week, set for worst week
since June 10
    ** More than 920,000 shares change hands, vs the 30-day
average of 452,120 shares
    ** Stock had fallen 42.9% this year, as of last close

($1 = 1.4723 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))