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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Reports revenue in 2022 rose 45% to £286,144 from £197,671 the year prior. Pretax loss narrowed to £704,891 from £2.5 million and loss per share was £0.093 compared to £0.462. Remains committed to advancing pipeline of innovative natural biologic products, expanding its global footprint, and delivering sustainable long-term growth. Draws attention to note 2 in the financial statements under the heading ’going concern.’ Explains forecasts and projections indicate that the group does not have sufficient cash reserves and is highly dependent on its ability to raise additional funds through equity or debt finance or the expected sale proceeds from a highly probable sale of certain assets of the group. Says the fund raise or highly probable sale is expected to happen within twelve months.
Current stock price: 0.14 pence
12-month change: down 88%
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