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Celadon Pharmaceuticals PLC ( (GB:CEL) ) has issued an announcement.
Celadon Pharmaceuticals Plc has announced a finance update, confirming ongoing correspondence with its credit facility provider regarding the remaining £250k balance of a £500k due amount, which is expected to be paid by the end of December 2024. This, combined with recent subscription proceeds and anticipated customer receipts, ensures the company has sufficient working capital through February 2025, potentially extending to March 2025 with the receipt of the full amount. The financial update underscores Celadon’s stable financial position, enabling continued operations and potential growth in the cannabis-based medicine sector.
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 is primarily focused on improving the quality of life for chronic pain sufferers and exploring the potential of cannabis-based treatments for conditions such as autism. Celadon operates a 100,000 sq. ft EU-GMP approved facility for cultivation, extraction, and research and development. The company holds a Home Office license for the commercial supply of pharmaceutical-grade cannabis products and owns a clinical trial in the UK for treating chronic pain. Additionally, Celadon has a minority stake in Kingdom Therapeutics, a biopharma developing cannabinoid medicine for Autism Spectrum Disorder.
YTD Price Performance: -83.48%
Average Trading Volume: 93,511
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £13.08M
See more data about CEL stock on TipRanks’ Stock Analysis page.
