Botanix Pharmaceuticals hits one-week low on discounted capital raise

Botanix Pharmaceuticals

21/07/2023 02:59

** Shares of Australia-based Botanix Pharmaceuticals
 BOT.AX  fall as much as 6.9% to A$0.135, their lowest level
since July 14 
    ** Botanix announces A$12.5 mln ($8.47 mln) capital raise to
meet royalty payments due to Fresh Tracks Therapeutics, which
was acquired by co in early 2022
    ** Issue price of A$0.12 represents a discount of 17% to
Botanix stock's last close on July 18 before it went on a
trading halt
    ** Stock set for worst day since July 12, if trend holds
    ** More than 2.7 mln shares change hands, compared with the
30-day average volume of about 2.2 mln shares
    ** Stock more than doubled this year, as of last close

    ($1 = 1.4765 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))