Australia's Chimeric Therapeutics hits record low after share placement

Chimeric Therapeutics

15/05/2023 05:39

** Shares of Chimeric Therapeutics  CHM.AX  slip as much as
15.2% to A$0.039, a record low 
    ** Biotech firm raised A$1.04 mln ($705,432.00) from board
and management under a share placement through the issue of 22.7
mln new shares at A$0.046 per share 
    ** Co also intends to further raise up to A$5.25 mln through
a share placement at a price of A$0.04, representing 13%
discount to CHM's last close on Friday 
    ** Proceeds will be used to continue development of co's
cell therapy portfolio
    ** Stock posts its biggest intra-day pct fall since Feb,
2022
    ** About 3.2 mln shares have changed hands, compared with
30-day average of 489,811 shares 
    ** Stock has fallen 42.5% so far this year, as of last close
    



($1 = 1.4743 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))