Physiomics issues shares at discount

6th Apr 2011 15:13

Penny stock Physiomics fell sharply Wednesday, giving back some of last week's heavy gains, after announcing a share issue at a discount to the prevailing market price.The company has issued 120m shares at a price of 0.5p per share by way of a placing, to raise £0.6m to boost working capital. Following the placing, the number of Ordinary Shares in issue will increase to 1,122m ordinary shares. Shares in the Oxford based systems biology company hit a 52-week high on Friday, 1 April, after the company announced positive results had been generated in a pre-clinical study into breast cancer based on the company's "Virtual Tumour" model predictions. ab