Australia's Imugene falls on discounted placement

Imugene

16/07/2025 03:34

** Shares of Imugene IMU.AX fall as much as 18.8% to A$0.345, hitting their lowest level since July 2; last down 11.8% at A$0.375

** Pharmaceutical co receives firm commitments to raise A$22.5 million ($14.68 million) via placement

** Issue price of A$0.33 per share represents a discount of 22.4% to stock's last close on July 11

** Co to raise up to a further A$15 million at A$0.33 per share via share purchase plan

** Proceeds will be used to fund the azer-cel programme through pivotal clinical trial in CY26 and others - co

** Allogeneic CAR T-cell therapy, azer-cel, is a drug used for treatment of relapsed or refractory diffuse large B-cell lymphoma

** About 1.7 million shares change hands, 2.9x 30-day average

** Stock down 70.2% YTD, including day's move

($1 = 1.5328 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))