Celadon Pharmaceuticals PLC ( (GB:CEL) ) just unveiled an update.
Celadon Pharmaceuticals Plc is currently experiencing financial challenges as it has not yet received funds from its secured or committed credit facilities. The company is exploring alternative financing options but faces uncertainty regarding the timing and success of securing additional funding. With limited working capital, Celadon is reliant on creditor support to continue operations into April 2025. If funding is not secured promptly, the company may enter administration. The directors plan to propose the cancellation of trading of the company’s ordinary shares on AIM once funding is secured.
More about Celadon Pharmaceuticals PLC
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company specializing in the development, production, and sale of cannabis-based medicines. The company focuses on improving the quality of life for chronic pain sufferers and exploring cannabis-based treatments for conditions like autism. Celadon operates a 100,000 sq. ft EU-GMP approved facility in the UK, which includes indoor hydroponic cultivation, GMP extraction, and an R&D laboratory. It holds a Home Office license for the commercial supply of pharmaceutical-grade cannabis and is involved in clinical trials for chronic pain treatment. Additionally, Celadon has a minority interest in Kingdom Therapeutics, which is developing a cannabinoid medicine for Autism Spectrum Disorder.
YTD Price Performance: -46.67%
Average Trading Volume: 236,176
Technical Sentiment Signal: Buy
Current Market Cap: £5.51M
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