This contract win still needs performance guarantees, with the distressed debt restructuring situation, in the company, these guarantees will not be available.
The 12 preferential clients would have formulated the lysate into their brands and will have produced the marketing and advertising for when Croda launches the ingredient. These cosmetic giants will compete to be first to market. We then can monitor the reception of the product, which I believe will be marketed very rapidly.
Ignore the PR fluff from Lemming, but the reality is we have a crap CEO, who has no support but is still in post. ? The largest shareholders will sell and move on.