** Shares of Cyclopharm CYC.AX fall as much as 19.7% to A$0.94, their lowest level since January 27

** The radiopharmaceutical co to raise A$14 million ($9.83 million) via placement

** Issue price of A$0.95 per share represents a discount of 18.8% to stock's last close

** Proceeds will be used to accelerate commercialisation of Technegas in the United States, others, adds co

** About 206,432 shares change hands, 3.8x the 30-day average

** YTD, stock down 1% this year, including the day's move

($1 = 1.4241 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))