Roquefort Therapeutics PLC (LSE:ROQ, OTCQB:ROQAF) said it has decided not to go ahead with a placing after comments on bulletin boards sent its shares sharply lower.
Shares in the Main market-listed group closed last night at 4.5p or around half the level of the start of last week.
In a statement, the oncology drugs specialist said that it had asked its advisers to sound out the potential for a fundraising but “in response to incorrect bulletin board comments regarding a speculative placing price and resulting unusual share price movements, the board has decided to not proceed with any potential placing at this time”.
Roquefort added that it remains focused on completing an out-licensing agreement during 2024 with potential Big Pharma partners and will update the market when a binding agreement has been signed.