UK's Oxford Cannabinoid Technologies slumps on delisting application

Oxford Cannabinoid Technologies Holdings

08/05/2024 10:52

** Shares of Oxford Cannabinoid Technologies Holdings
 OCTP.L  slump as much as 64% to record low of 0.126p; stock
biggest pct loser across London
    ** The clinical stage biopharmaceutical company focused on
development and commercialisation of cannabinoid medicines
applies for cancellation of listing of shares on LSE main market
    ** OCTP says its directors, after completion of an internal
strategic review, concluded cancellation of listing will be in
best interest of its business
    ** Co says it has no near-term cash flow concerns and
remains debt-free
    ** Stock down 61.4% as of 0938 GMT, pushing YTD losses to
82%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))