IN BRIEF: Advanced Oncotherapy financing talks continue, funds delayed
Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Provides update in relation to financing discussions and financial position. Says talks on the proposed financing have continued to make good progress. However, notes there have been further delays and the initial tranche of funding, which is still expected to be around USD15 million, has not yet been received. Hopes this will be received by the end of May but stresses there is no guarantee. Continues to expect the financing to require a restructuring of financial liabilities with a view to providing a long-term financing solution for the company to continue as a going concern. Warns that without additional funding the company is unlikely to be able to continue to trade and would very likely become insolvent and be placed into administration. Read More