Australia's Imugene loses most in over 8-years on discounted placement

Imugene

07/07/2026 04:43

** Shares of Australia's Imugene IMU.AX falls 22.2% to A$0.105, heading for its biggest pct loss since mid-November, 2017
** Cell therapy co receives firm commitments to raise about A$11.12 million ($7.73 million) via share placement
** Placement involves issue of 117.1 million shares at A$0.095 per share
** Placement at a discount of 29.6% to co's last close
** Funds will be used advance production of co's cellular cancer therapy drug, azer-cel, following positive clinical data
** Near 8.4 million shares change hands; 2.1x the 30 day average 
** Stock down 71.9% YTD, including day's moves

($1 = 1.4391 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))