RE: Why the rise22 May 2018 14:31
Alternatively, from the 6 months report to Dec 31 2017 Ian Garland, Chief Executive Officer, commented,
"The Board deeply regret having to implement the wide-reaching restructuring recently announced but given the Tuzistra� XR performance and slower than hoped for progress with the cough cold pipeline, it is no longer viable to sustain our US commercial operations or continue to pursue our current strategy."
"The decision to close the US commercial business will significantly reduce the ongoing cash burn of the Group, after the closure costs have been incurred. Whilst there is a need to exit or renegotiate contracts on reasonable terms, the directors have a reasonable expectation that the Group will have adequate financial resources to continue in operation for the foreseeable future. The unaudited cash resources at 28 February 2018 was �45.5 million."
"Alongside the closure of the US commercial operations, our focus in the next few months will be on exploring alternative ways in which to realise value for shareholders, including potentially the sale of the Company as a whole. The Board has set a target date for concluding this activity of 30 September 2018 and we will provide updates to the market where possible."
So it looks like the best option is putting the Company up for sale.......with an uncertain outcome