News blog
York Pharma
- BY: Andrew Hore |
- POSTED: 24/06/2009 |
York Pharma has ended takeover talks with ULURU which means that it will have to pay ULURU $1m line of credit it provided in April.
York has 30 days to repay the line of credit plus accrued interest. The skin treatments developer is attempting to find an alternative source of funds. If it does not find additional cash it will be difficult to keep the business running for a significant time.
ULURU is still considering its position.
The shares were suspended at 3.25p each at the end of March 2009, which values York at £2m.
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