Australia's LTR Pharma slides on discounted placement

Ltr Pharma

10/12/2024 02:46

** Shares of LTR Pharma  LTP.AX  fall as much as 8.6% to
A$0.96, their lowest level since Aug. 12
    ** Aussie biotech firm gets binding commitments for A$25 mln
private placementat A$0.92/shr, a 12.4% discount to last close
    ** Says funds to speed development, commercialisation of its
SPONTAN nasal spray treatment for erectile dysfunction
    ** Trading vol of 915,000+ shares tops 30-day avg of
~632,000
    ** Stock has now surged ~190% YTD

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