Josh White Sharecast News
31 Jan, 2025 12:14 31 Jan, 2025 11:38

Celadon still seeking finance as it draws down most of facility

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Celadon PharmaceuticalsSharecast graphic / Josh White

Celadon Pharmaceuticals

19.00p

16:55 28/02/25
-8.65%
-1.80p

Celadon Pharmaceuticals reported on Friday that it has received £0.897m of a £1m drawdown request from its committed credit facility, with the remaining £0.1m now expected in February.

FTSE AIM All-Share

703.83

17:14 28/02/25
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Nonequity Investment Instruments

0.00

17:17 25/09/06
0.00%
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The AIM-traded company said it has sufficient working capital to operate until March, assuming expected cash receipts and continued creditor support.

Celadon said it was still seeking alternative financing options to replace its current credit facility, confirming that it was no longer in discussions with the finance provider referenced in its November update.

The firm said it was in talks with other potential lenders, adding that it would provide further updates as appropriate.

At 1138 GMT, shares in Celadon Pharmaceuticals were down 23.61% at 13.75p.

Reporting by Josh White for Sharecast.com.

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