Redx Pharmas transition from administration
back to trading on AIM is an unprecedented move for a UK
company.
The UK-based drug R&D company was declared insolvent in
May after missing a repayment deadline for a £2 million
($2.62 million) secured loan from Liverpool City Council dating
from 2012.
It was put into the care of joint administrators FRP
Advisory shortly after, and sold off one of its units to US
pharmaceutical company Loxo for $40 million to clear its
liabilities. Its shares resumed trading on AIMs
junior market on November 6.
Unusual rescue
Its unusual for a company that enters
administration proceedings to emerge re…
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