23rd Jun 2020 08:48
(Correcting that Motif Bio became a cash shell after putting iclaprim assets up for sale, but no sale has been completed.)
Motif Bio PLC - AIM cash shell - Says requested and granted extension to filing deadline for 2019 results to September 30 from June 30. Audit process has begun but delayed by change of auditor to Crowe UK LLP from Pricewaterhouse Coopers LLP. Notes that if doesn't make an acquisition that is classified as a reverse takeover, its shares will be suspended from trading on AIM and cancelled six months after that. Motif Bio became a cash shell in January after putting all assets related to antibiotic drug iclaprim up for sale. However, no such sale has so far been completed, with Motif Bio saying in April that no transaction was pending and there was no assurance that it will be able to monetise the assets.
Current stock price: 0.48 pence
Year-to-date change: up 23%
By Tom Waite; [email protected]
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