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Share Price:
Up 42.55p
Change Today:
0.15p
Market Cap:
178.06m
Sector:
Medical Equipment and Services

Adams increases stake in Circassia

By Josh White

Date: Friday 03 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Adams announced on Friday that, on 2 January, it purchased an additional 2,400,000 ordinary shares in Circassia on the AIM market, at an average price of 19p per share, for a total cash consideration of 0.46m.
The AIM-traded firm said its total holding in Circassia now amounted to 3,075,000 ordinary shares, representing 0.82% of Circassia's currently issued share capital.

Following the investment, it said it had cash balances of around 1.0m.

"Circassia is a specialty commercial pharmaceutical company focused on respiratory disease which promotes innovative asthma management products, including the 'NIOX' asthma diagnosis and management products and the chronic obstructive pulmonary disease products 'Tudorza' and 'Duaklir', directly to specialist physicians in a number of key markets," the Adams board explained.

"Circassia is working to expand its portfolio further through in-licensing, partnering or acquisition."

It said Circassia's revenues totalled 27.9m for the six months ended 30 June, which - coupled with continued significant investment in development and marketing - resulted in an operating loss of 19.3m for that period.

Circassia held cash and cash equivalents of 21m as at 30 June.

On 5 December, Circassia reiterated the guidance it had given in its interim financial results, confirming that it anticipated full year 2019 revenues of between 60m and 65m, with a "dramatically reduced" net cash outflow in the second half of 2019 compared with the first half.

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CIR Market Data

Currency UK Pounds
Price 42.55p
Change Today 0.15p
52 Week High 46.05p
52 Week Low 23.90p
Volume 503,593
Shares Issued 418.46m
Market Cap 178.06m
Beta 0.06

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What The Brokers Say

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Neutral 1
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Total 2
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CIR Dividends

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Trades for 26-Jan-2022

Time Volume / Share Price
10:46 10,000 @ 42.81p
10:07 12,000 @ 42.81p
09:55 10,460 @ 42.55p
09:44 50,000 @ 42.82p
09:40 50,000 @ 42.82p

CIR Key Personnel