Australia's Imagion Biosystems hits 8-month low on discounted placement

Imagion Biosystems

10/10/2024 03:08

** Shares of Imagion Biosystems  IBX.AX  fall as much as
24.3% to A$0.028, posting their largest intraday pct drop since
early February
    ** Stock hits its lowest since Sept. 30
    ** Medical imaging co receives commitments to raise A$3
mln($2.02 mln) via a placement
    ** Placement issue price at A$0.02 per share, a ~46%
discount to last close on Oct. 7
    ** Says funds will be used to accelerate development of its
MagSense imaging technology for the treatment of breast cancer
    ** More than 504,000 shares change hands vs 30-day avg
volume of around 315,000 shares
    ** Imagion down ~91.3% YTD, including current session's
moves

($1 = 1.4872 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))