Australia's Cambium Bio rises on premium placement

Cambium Bio

30/07/2025 04:54

** Shares of Cambium Bio CMB.AX rise about 43% to A$0.415, their highest level since Feb 26

** Regenerative medicine firm to raise A$2.12 million  ($1.38 million) through placement of fully-paid ordinary shares at A$0.4637 per share

** Placement is a near 60% premium to CMB's last close

** Co to use proceeds to fund trials for Elate Ocular, a dry eye disease drug

** Around 43,703 shares traded, more than 3x the 30-day avg trading volume

** YTD, stock up 3.8%, including session's gains

($1 = 1.5342 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))