Australia's Prescient Therapeutics slumps on discounted capital raise

Prescient Therapeutics

24/08/2022 06:31

** Shares of Prescient Therapeutics  PTX.AX  slump as much
as 16.7% to A$0.175, their worst day since June 14 
    ** Clinical-stage oncology co says it is targeting to raise
A$8.0 mln ($5.53 mln) via share purchase plan  urn:newsml:reuters.com:*:nASM000OGZ
    ** Co says funds raised will be used to progress ongoing
clinical development of its targeted cancer therapies, among
others 
    ** Issue price of A$0.175 per share is at 16.7% discount to
last trading price on Aug 23 
    ** Shares hit lowest since Aug 18
    ** Stock has fallen 8.7% this year, as of last close

($1 = 1.4468 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))