Celadon Pharmaceuticals PLC (GB:CEL) has released an update.
Celadon Pharmaceuticals PLC, a UK-based pharmaceutical company specializing in cannabis-based medicines, has reported an annual revenue of £75k and a loss before tax of £7,523k for the year ended 31 December 2023. Despite the operating loss, the company achieved regulatory milestones, including MHRA registration and a Home Office licence allowing commercial sales, leading to contracts potentially worth over £10m annually. With Phase 2 facility fit-out in progress and promising data from a chronic pain study, Celadon is optimistic about the future of its medicinal cannabis products.
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