LONDON (Alliance News) - Shares in WideCells Group PLC fell sharply on Tuesday as the firm said talks over a fundraising needed for it to keep going have taken longer than hoped.
Shares were down 48% on Tuesday at a price of 5.00 each.
The delay in securing funding, the compay added, means it was not been able to publish its 2017 results in time for the Monday deadline, as the audit process has been delayed as a result.
WideCells, a healthcare firm which provides stem cell services and insurance for stem cell treatment, said it has been talking with financial advisers over a possible fundraise.
In the absence of any cash being raised, it said, "the group is at risk of not being able to continue trading as a going concern".
The company also said it received loans from directors in April totalling GBP115,000.