Australia's Zelira Therapeutics climbs on raising funds to speed up clinical trials

Zelira Therapeutics

20/10/2021 04:45

** Shares of Zelira Therapeutics  ZLD.AX  rise as much as
28.2% to A$0.050, marking their biggest intraday pct gain since
Dec. 14, 2020
    ** Cannabis-focused biopharma co raises $5 mln from
U.S.-based family office fund Quincy Street Capital LLC
 urn:newsml:reuters.com:*:nASX970350
    ** Says funds will be used to accelerate its ongoing
clinical trials in Australia and the United States
    ** Funds will also be used to obtain additional licensing
for products, and expand footprint in emerging cannabidiol
markets
    ** Says capital raise includes A$4.79 mln ($3.6 mln) via
placement at A$0.06 per share, a 53.8% premium to ZLD's last
closing price
    ** Stock hits highest since July 19
    ** About 14.3 mln shares trade hands, 12.9 times the 30-day
average volume of 1.1 mln shares
    ** As of last close, stock down 57.6% YTD   

($1 = 1.3371 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))