Australia's Oncosil Medical hits record low on discounted capital raise

Oncosil Medical

26/05/2025 04:15

** Oncosil Medical OSL.AX slides as much as 28.6% to a record low of A$0.003; last down 14.3%

** Pharmaceutical co announces A$8.7 mln ($5.7 mln) capital raise at an issue price of A$0.003, a 25% discount to stock's last close

** Says proceeds will fund and accelerate the ongoing commercialization of Oncosil medical device used to treat pancreatic cancer

** Nearly 50 mln shares traded vs 30-day avg of 3 mln

** Stock falls 41.7% this year, as of last close

($1 = A$1.5335)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))