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An announcement from Celadon Pharmaceuticals PLC ( (GB:CEL) ) is now available.
Celadon Pharmaceuticals Plc announced a delay in receiving funds from its new secured credit facility due to additional due diligence checks required by the institutions responsible for transferring the funds. To mitigate the uncertainty and ensure sufficient working capital, the company has decided to draw down an additional £2 million from its existing committed credit facility. This move is aimed at maintaining operational stability and securing cash flow until the new funds are available, expected within two weeks. The company continues to work with creditors to manage cash flow effectively, with the new facility funds anticipated to support operations through Q3 2025.
More about Celadon Pharmaceuticals PLC
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company specializing in the development, production, and sale of innovative 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’s operations include a 100,000 sq. ft EU-GMP approved facility for cultivation, extraction, and research, and it holds a Home Office license for commercial supply of pharmaceutical-grade cannabis products. The company also has a minority stake in Kingdom Therapeutics, which is developing cannabinoid medicine for Autism Spectrum Disorder.
YTD Price Performance: -10.0%
Average Trading Volume: 198,878
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £9.29M
Find detailed analytics on CEL stock on TipRanks’ Stock Analysis page.