Tiger Brokers

BUZZ-Australia's Percheron Therapeutics plunges on discounted placement

Reuters
Oct 18, 2024

** Shares of Percheron Therapeutics fall as much as 36.3% to A$0.086, on track for their worst day since March 24, 2010, if current losses hold

** Stock hits lowest level since Sept. 13

** Biotech firm says it will raise A$13 mln ($8.71 mln) via institutional placement at A$0.08 per share, a 40.7% discount to stock's last close

** Says proceeds will be used to strengthen its financial position, ahead of planned release of data on clinical trial of avicursen to treat Duchenne muscular dystrophy

** About 17 mln shares change hands, compared with the 30-day average volume of 1.2 mln

($1 = 1.4919 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10