Australia's Imugene slips most in two months on discounted placement

Imugene

13/09/2022 01:43

** Shares of Imugene  IMU.AX  fall as much as 6.7% to
A$0.210, tracking their worst day since July 12 - if losses hold
    ** The cancer-focused biopharma co said it has received firm
commitments for an A$80 million ($55.02 million) share placement
 urn:newsml:reuters.com:*:nFWN30J24L
    ** Says capital raised will be used for funding the
company's broad clinical pipeline of three platform technologies
    ** Issue price of A$0.20 per share represents a 11.1%
discount to last close on Sept. 9 
    ** Shares hit lowest since Sept. 5, falls for second
straight session 
    ** Stock has fallen 43.8% this year, as of last close

($1 = 1.4539 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))