Celadon Pharmaceuticals PLC ( (GB:CEL) ) has shared an update.
Celadon Pharmaceuticals Plc has announced its decision to terminate a recently established credit facility, as the company no longer anticipates receiving funds from it. This move involves applying for the removal of a floating charge over its assets. Despite this termination, Celadon continues to engage with alternative finance providers to secure working capital, ensuring its ongoing operations and strategic initiatives remain unaffected.
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 like autism. The company operates a 100,000 sq. ft EU-GMP approved facility in the UK, which includes indoor hydroponic cultivation, proprietary GMP extraction, and an R&D laboratory. Celadon holds a Home Office license for the commercial supply of pharmaceutical-grade cannabis and is involved in a clinical trial for treating chronic pain with cannabis-based products. Additionally, Celadon has a minority stake in Kingdom Therapeutics, which is developing a cannabinoid medicine for Autism Spectrum Disorder.
YTD Price Performance: -53.33%
Average Trading Volume: 303,470
Technical Sentiment Signal: Strong Buy
Current Market Cap: £3.1M
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