** Shares of Inhalerx IRX.AX fall as much as 22.2% to A$0.028, their lowest level since November 14

** Stock on track for its steepest fall since November 4

** Medical device maker receives firm commitments to raise A$750,000 ($486,825.00) in a placement

** Issue price of A$0.025 per share represents a discount of 30.6% to the stock's last close

** Proceeds will be used for non-clinical working capital, others

** About 312,000 shares change hands, 1.2 times the 30-day avg

** Stock down 20% YTD, including the session's moves

($1 = 1.5406 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))