There's a clearer way forward now .. but watch out for the results announcement next week as it's likely to be a shocker. The first half year was bad the second half is likely to be worse. The delays with the MA's will also likely impact the turnaround for 1H 2021 as well. I'd also be concerned about cash and borrowings and whether the balance sheet will need to be strengthened sometime soon. They had cash of $1.6m at end June 2020 and borrowings of $12.3m. I think I'd like to see the results next week, but do admit the MA's are great news
"The delay of the receipt of the final approvals from the MHRA to start the production and saleof Co-Codamol products under the Company’s marketing authorisations into the UK hascaused the Company to generate greater than expected operating losses in the final quarterof 2020 and these losses have continued into the 2021 Year. At present, the business is using approximately $1-2m of cash per month although this number will fluctuate with variationsin API and Contract Manufactured Finished Dosage sales, and domestic poppy straw harvestcommitments "
PAL Price at posting:
72.0¢ Sentiment: None Disclosure: Not Held
