Australia's Firebrick Pharma tumbles on discounted share purchase plan

Firebrick Pharma

12/09/2024 02:02

** Shares of Firebrick Pharma  FRE.AX  fall as much as 9.2%
to A$0.059, posting their biggest intraday percentage decline
since May 28
    ** Stock hits its lowest level since Aug 21
    ** Pharmaceutical co says it will raise up to A$2 mln 
($1.34 mln) via share purchase plan at A$0.055 per share
    ** Issue price represents a 15.4% discount on co's last
close
    ** About 986,000 shares change hands, compared with the
30-day average volume of around 102,000
    ** Stock up 18% YTD, including session's move

($1 = 1.4972 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com))