Australia's Antisense Therapeutics falls most in over a year on share placement

Percheron Therapeutics

01/11/2021 03:14

** Biotech firm's shares  ANP.AX  fall as much as 22% to
A$0.230, biggest intraday pct fall since September 2020
    ** Company says it got positive final opinion from
Paediatric Committee of the European Medicines Agency on its
plan to develop its inhibitor ATL1102 for Duchenne muscular
dystrophy  urn:newsml:reuters.com:*:nASX1199fS
    ** ANP to raise A$20 mln ($15.02 mln) to fund its phase
IIb/III clinical trial via issue of about 83.3 mln new shares,
making up about 18% of its free float
    ** New shares priced at A$0.24 apiece, a discount of 18.6%
to stock's last close on Oct. 27, after which company went on
trading halt
    ** Company to also undertake non-underwritten 1 for 9.4
non-renounceable entitlement offer to raise about A$16.8 mln
    ** Stock at lowest since Oct. 13; about 5.8 mln shares
change hands, vs 30-day avg volume of 1.9 mln
    ** Company's shares have more than doubled in value this
year, as of last close

 ($1 = 1.3314 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com))