PATEO's stock plummeted 5.13% during intraday trading on Thursday.

The decline is attributed to a recently announced discounted share placement and the company's latest annual results showing a significant widening of losses. The company entered into a subscription agreement to issue new shares at a price representing an approximately 10% discount to the pre-announcement closing price, which is dilutive to existing shareholders. Concurrently, its annual financial report revealed that while revenue grew year-over-year, its net loss more than doubled, with research and development expenses surging sharply.

The combined effect of the dilutive capital raising and deteriorating profitability continues to weigh heavily on investor sentiment toward the stock.