RE: Extra Extra, Read all about it...24 Aug 2020 19:47
OUTLOOK
The world is grappling with the enormous scale and human impact of COVID-19 pandemic, as it continues to spread across the globe at an alarming rate. Stock markets across the world are experiencing significant swings and volatility, and the Group expects that shares will continue to be subject to extraordinary price volatility.
There is a significant risk that the outbreak of COVID-19 could have a significant adverse effect on the Group’s operations, including the manufacturing and distribution capacity of its European partners. Given the complex and constantly evolving situation around COVID-19, it is not possible to predict the possible future impacts, a protracted uncertainty and a lack of containment of the virus could have several negative consequences for the Group, including negatively impacting the Group’s efforts to achieve a timely and successful commercialisation of FortacinTM in the PRC and elsewhere, as well as subsequent impact on the Group’s cash flow, net sales, profitability and prospects. Moreover, should outbreaks continue in the US, completion of the Phase II pivotal study in the US could be delayed due to the inability to recruit the final patients to the study in the event that test centres are required to close their offices.
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Depending on the spread of COVID-19, it is also reasonable to assume that stock exchanges over the world will be very volatile and shares may be subject to extraordinary swings. There is thus a risk that the price of the Company’s shares might follow general market volatility, regardless of results and performance of the Group and decline significantly in value.
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