Australia's Chimeric Therapeutics falls on discounted placement

Chimeric Therapeutics

04/03/2025 02:48

** Chimeric Therapeutics CHM.AX falls 7.7% to A$0.006, lowest since February 26

** Biotech firm says it intends to raise up to A$3.2 mln ($1.99 mln) at A$0.005, a discount of 28.6% to last close

** Adds funds will used for continued development of co's CDH17 Phase 1/2 clinical trial

** Stock down 14.3% YTD

($1 = A$1.6116)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))