BUZZ-Aurinia Pharma drops on plans of private placement

Wed Jun 15, 2016 10:17am EDT
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** Drug developer's U.S-listed shares down 15 pct at $2.90, set for their worst day in a year

** Aurinia plans private placement on unspecified number of units at $2.36/unit and it has received commitments to purchase totaling $7.1 mln

** Each unit to consist of one common share plus 0.35 share purchase warrant

** The company had about 32 mln shares outstanding as of September 2015

** Up to Tuesday's close, stock had fallen about 15 pct this year (RM: