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Celadon Pharmaceuticals Plc announced on 12 February 2025 that it received the final £103k from its £1.0m Committed Credit Facility draw down request. The company also received a £389k tax credit from an R&D claim for the year ended December 2022, which was previously held as a deferred tax asset.
| Date | 12 Feb 2025 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 7521W |
Celadon Pharmaceuticals Plc
("Celadon", the "Group" or the "Company")
Finance Update
London, 12 February 2025 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, provides an update on its financial position.
The Company is pleased to announce that it has received the final £103k from its £1.0m draw down request, under its Committed Credit Facility. The Company has also received a £389k tax credit from a R&D claim for the year ended December 2022. The tax credit was held on balance sheet as a deferred tax asset.
The Company continue to explore further capital opportunities.
Enquiries:
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Celadon Pharmaceuticals Plc |
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James Short
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Via Canaccord Genuity Limited |
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Canaccord Genuity Limited (Nominated Adviser and Broker) |
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Bobbie Hilliam / Andrew Potts |
+44 (0)20 7523 8000 |
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Global Investment Strategy UK Limited (Joint Broker) James Sheehan
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+44 (0)20 7048 9400
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About Celadon Pharmaceuticals Plc
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines. Its primary focus is on improving quality of life for chronic pain sufferers, as well as exploring the potential of cannabis-based medicines for other conditions such as autism. Its 100,000 sq. ft UK facility is EU-GMP approved and comprises indoor hydroponic cultivation, proprietary GMP extraction and an analytical and R&D laboratory. Celadon's Home Office licence allows for the commercial supply of its pharmaceutical-grade cannabis product. The Group owns an approved clinical trial using cannabis-based medicinal products to treat chronic pain in the UK. Celadon also has a minority interest in early-stage biopharma Kingdom Therapeutics, which is developing a licensed cannabinoid medicine to treat children with Autism Spectrum Disorder.
For further information please visit our website www.celadonpharma.com
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.