Shares in Bod Science (ASX:BOD) have coped their hardest hit day since March 2, 2020, due to a discounted placement.

The pharmaceutical retailer affirmed that it has received solid assurances for a A$1.9 million placement.

The company further stated that the raised funds will be employed for the purpose of research and development, and to bolster working capital.

With an issue price of A$0.08 per share, this represents a discount approximating 27.3% to the final close on July 31.

The shares have sunk to their lowest point since July 12.

As of the last close, the stock had shed roughly 26.7% of its value for the year.

Bod Science is a pharmaceutical retailer.