Australia's Radiopharm Theranostics hits 2-month low on discounted raise

Radiopharm Theranostics

30/10/2023 23:47

** Shares of Radiopharm Theranostics  RAD.AX  slump as much
as 20% to A$0.089, set for worst day since Oct 20, 2022, if
losses hold 
    ** Shares hit lowest since Aug 28 
    ** The radiopharmaceutical product maker says it intends to
raise up to A$10 mln ($6.37 mln) via an entitlement offer
 urn:newsml:reuters.com:*:nFWN3C04BC
    ** Co says funds raised will be used to progress four
clinical trials and apply to ongoing working capital 
    ** Issue price of A$0.07 per share is at a 30% discount to
the last traded price on Oct 30 
    ** About 590,095 shares change hands, 1.5 times compared
with the 30-day average volume of 405,741
    ** Stock down ~4.8% this year, as of last close


    ($1 = 1.5706 Australian dollars)

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