Australia's PharmAust eyes worst day in over 10 mths on discounted placement

Neurizon Therapeutics

03/05/2023 03:05

** Shares of Australia's PharmAust Limited  PAA.AX  fall as
much as 15% to A$0.085, set to mark worst day since June 23,
2022, if losses hold 
    ** Stock hits lowest since March 28
    **  Biotech co says it has received binding commitments to
raise approximately A$2.5 mln ($1.67 mln) in a placement at an
issue price of A$0.08 per share - a discount of 20% to the last
close  
    ** PAA has risen 56.3% this year, as of last close


($1 = 1.4995 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))