STOCK WATCH

ANTIBIOTICS developer Motif Bio alarmed investors as it said it would need to raise capital in the near term and ‘aggressively’ manage the money it has available.

The cash-strapped firm said it had amended its agreements with lender Hercules Capital. It has made an early repayment of £5.4m to help lower future interest payments.

Lenders have been worried since US regulators refused to approve its latest drug earlier this month. Shares fell 28pc, or 2.83p, to 7.29p.