Australia's Nyrada falls on discounted placement

Nyrada

27/10/2024 23:25

** Shares of Nyrada  NYR.AX  fall as much as 10.7% to
A$0.125, their biggest intraday percentage loss since early
October 
    ** Shares hit their lowest level since Oct. 21 
    ** The pharma co says it has raised about A$3.4 million
($2.25 million) by way of a placement 
    ** Issue price of A$0.12 per share is at a 14.3% discount to
last close on Oct. 23 
    ** Says funds to be used primarily for completion of Phase
I(a) clinical trial and Investigational New Drug applications
with the U.S. Food and Drug Administration
    ** Stock up 536.4% YTD as at 2315 GMT 

($1 = 1.5133 Australian dollars)

 (Reporting by Echha Jain in Bengaluru; Editing by Lisa
Shumaker)
 ((Echha.jain@thomsonreuters.com))