UK's Celadon Pharma slumps amid cash concerns
12/08/2024 09:16
** Shares of Celadon Pharmaceuticals CEL.L slump 47.7% to
27.50p
** The UK-based pharmaceutical company, focused on the
development, production and sale of cannabis-based medicines,
says co is managing its cash position tightly and reiterates
that the firm's going concern is dependent on receipt of funds
under the equity fundraise and the committed credit facility
** Co says its operations continue to perform in line with
management expectations
** Including session's losses, stock down about 76% YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))