Notable News to Watch: Immuron Limited (NASDAQ: IMRN)

Immuron Limited (NASDAQ: IMRN) stock observed trading -74.39% off 52-week high price. On the other end, the stock has been noted -20.61% away from low price over the last 52-weeks. The stock disclosed a move of -37.08% away from 50 day moving average and -53.89% away from 200 day moving average. Moving closer, we can see that shares have been trading -30.42% off 20-day moving average. It has market cap of $522.57M .

Immuron Limited (NASDAQ: IMRN), an Australian biopharmaceutical company focused on developing and commercializing oral immunoglobulin therapeutics for the treatment of gut mediated diseases, declared that it intends to offer and sell American Depositary Shares, or ADSs in an underwritten public offering.  Each ADS represents forty (40) ordinary shares of Immuron.  Immuron expects to grant the underwriters a 45-day option to purchase additional ADSs  offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Immuron intends to use the net proceeds from the proposed offering for expenses associated with the clinical development of its clinical candidates and working capital.

ThinkEquity, a division of Fordham Financial Management, is acting as representative of the underwriters in the offering.

A shelf registration statement on Form F-3 (File No. 333-230762) relating to the ADSs to be issued in the proposed offering was filed with the Securities and Exchange Commission (SEC) and was declared effective on April 17, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Australia based company Immuron Limited moved with change of -27.24% to $3.66 with the total traded volume of 123796 shares in recent session versus to an average volume of 5.51K. The stock was observed in the 5 days activity at -26.66%. The one month performance of stock was -34.05%. IMRN’s shares are at -55.64% for the quarter and driving a -67.35% return over the course of the past year and is now at -36.90% since this point in 2018.  The average volatility for the week and month was at 4.74% and 6.33% respectively. There are 142.78M shares outstanding and 2.06M shares are floated in market.

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