Australia's Noxopharm hits three-month low on discounted placement

Noxopharm

Yesterday 02:42

**  Noxopharm Ltd NOX.AX shares fall as much as 2.0% to A$0.048, their lowest level since July 15
** The biotech firm receives commitments to raise A$1.5 million ($1.05 million) via placement at A$0.042 per share
** Issue price represents a 14.3% discount to the stock's last closing price on October 26
** Co says proceeds will fund its investigational new drug-enabling activities, preclinical programs and working capital
** YTD, stock down 48.4%, including the session's moves

($1 = 1.4225 Australian dollars)

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))