Imugene’s share prices have fallen by 14.9% to A$0.080, marking a near three-year low for the Australian biopharma company.

This fall has occurred in conjunction with the completion of a A$35 million share placement, with shares issued at A$0.084 each.

The stock, which has already fallen by 35.2% this year, is now set for its worst trading day since October 2022 due to this share issue price, which reflects a 10.6% discount to the last closing price.

Imugene is a clinical-stage immune-oncology firm, focused on creating high-performing immuno therapies for cancer patients.