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Celadon Pharmaceuticals PLC ( (GB:CEL) ) has issued an announcement.
Celadon Pharmaceuticals Plc has secured a new £0.5 million unsecured credit facility from a European high net worth individual, which will be used for general corporate purposes. This facility, in addition to an existing £7.0 million credit facility, aims to provide short-term financial stability as the company seeks further funding. Despite recent funding challenges, Celadon remains operationally strong and is committed to delisting its shares from AIM once additional funding is secured.
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 focuses on improving quality of life for chronic pain sufferers and exploring cannabis-based treatments for conditions like autism. Celadon operates a 100,000 sq. ft EU-GMP approved facility in the UK, which includes indoor hydroponic cultivation, GMP extraction, and an R&D laboratory. The company holds a Home Office license for the commercial supply of pharmaceutical-grade cannabis and is involved in clinical trials for treating chronic pain.
Average Trading Volume: 224,508
Technical Sentiment Signal: Sell
Current Market Cap: £6.88M
See more insights into CEL stock on TipRanks’ Stock Analysis page.