Australia's Imugene rises on $11.7 mln capital raise plan

Imugene

25/09/2023 02:33

** Shares of Imugene Ltd  IMU.AX  rise as much as 6% to
A$0.053, set for best day since Sept. 15, if gains hold
    ** Oncology co says it has closed the Share Purchase Plan of
its capital raising in for acquisition of the exclusive
licensing rights to cancer drug azer-cel, raising a further
A$18.2 million ($11.73 million)
    ** Under the SPP, about 325 million shares will be issued at
A$0.056 per share
    ** Two of two analysts rate the stock "Buy"; their median PT
is A$0.51 – LSEG data
    ** Stock set for gains after three consecutive sessions of
losses, if gains hold
    ** Stock down 65.5% YTD as of last close


($1 = 1.5521 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))