SkinBioTherapeutics faces April trading suspension until review ends

(Alliance News) - SkinBioTherapeutics PLC shares slid on Friday after the firm said it will be suspended from trading on the AIM market at the start of April until the review of its former chief executive's conduct concludes.

Shares in SkinBioTherapeutics slid 33% to 6.45 pence on Friday afternoon in London.

Last month, the Newcastle Upon Tyne, England-based life sciences firm appointed FRP Advisory to undertake an independent, forensic review.

This relates to the earlier resignation of Chief Executive Officer Stuart Ashman for "matters relating to his conduct".

At the time, the firm said it was "urgently conducting an investigation" into Ashman's conduct and said it now has reason to believe that he "misrepresented material information to the board, senior management, auditors and advisors".

This "has cast significant doubt on the validity of the accrued royalty income" reported in its results for the year ended June 30, 2025, SkinBioTherapeutics said.

On Friday, SkinBioTherapeutics said while progress with the review is being made, it will not be able to release its interim results by the end of March, as required by AIM regulations.

As a result, it said its shares will be suspended on April 1.

"Trading in the shares is anticipated to resume upon the finalisation of the board investigation and the publication of the interim results," SkinBioTherapeutics said.

The firm said it had a cash position of GBP2.4 million on Thursday, and its businesses are "trading on a 'business as usual' basis".

By Michael Hennessey, Alliance News reporter

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