** Shares of Recce Pharmaceuticals RCE.AX fall 7.7% to A$0.300, their lowest levels since April 2, 2020

** The pharmaceutical co announces a placement of A$5 million ($3.06 million) and an entitlement offer of A$10.8 million to fund clinical trials in Indonesia and Australia

** Issue price of A$0.28 for the placement represents a 13.8% discount to co's last close

** Stock down ~38% YTD, including current session's moves

($1 = 1.6332 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))