Belluscura PLC (AIM:BELL) shares fell sharply as uncertainty continued to dog the healthcare specialist.
While it reported ‘record’ sales for the month of April, it also launched a strategic review, never a 'buy' signal to investors.
The review will consider options including potential strategic investment, partnerships, and alternative funding structures.
Belluscura noted that it is not intended as an offer process.
Friday’s trading update reported $0.52 million of sales in April for its X-PLOR portable oxygen product. And, the company said that the US import tariff on its oxygen containers remains at zero.
The full commercial launch of Belluscura’s DISCOV-R product remains on track and is expected by the end of the third quarter.
Belluscura at the end of April had $1 million in cash, with working capital bank debt of $0.79 million.
In London, Belluscura shares fell 24% to change hands at 0.51p.