Celadon Pharmaceuticals PLC ( (GB:CEL) ) has provided an update.
Celadon Pharmaceuticals Plc announced a financial update, revealing it has received £897k from a £1m draw down request under its Committed Credit Facility, with the remaining £103k expected in February 2025. The company has enough working capital until March 2025, given anticipated customer cash receipts and creditor support. Celadon is exploring alternative lending options and has ceased discussions with one previous provider; updates will follow as necessary. Additionally, the company has relocated its registered office to comply with statutory requirements after the sale of its former premises.
More about Celadon Pharmaceuticals PLC
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company specializing in cannabis-based medicines aimed at improving the quality of life for chronic pain sufferers and exploring treatments for conditions such as autism. The company operates a 100,000 sq. ft EU-GMP approved facility in the UK, featuring indoor hydroponic cultivation, proprietary GMP extraction, and an R&D laboratory. They hold a Home Office license for commercial supply and own an approved clinical trial for chronic pain treatments. Celadon also holds a minority interest in Kingdom Therapeutics, focusing on cannabinoid medicines for Autism Spectrum Disorder.
YTD Price Performance: 36.00%
Average Trading Volume: 148,152
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £13.42M
For detailed information about CEL stock, go to TipRanks’ Stock Analysis page.