Australia's Firebrick Pharma hits record low after discounted placement

Firebrick Pharma

01/05/2023 04:35

** Shares of Firebrick Pharma  FRE.AX  slide as much as 10%
to A$0.18, their lowest level on record
    ** Says it raised A$1 million via a share placement at
A$0.15 per share
    ** Issue price represents a 25% discount to the shares' last
closing price of A$0.20 
    ** Funds raised to support phase 3 clinical trials for
Nasodine, a nasal spray to treat colds, among others
    ** Stock records worst intraday pct drop since Feb. 21 
    ** As of last close, shares down 13% YTD 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))