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Biotech firm Redx Pharma comes out of administration

The company said in a statement that the administrators filed their final report in court and with the Registrar of Companies, bringing the administration to a close

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AIM-listed Redx has been in administration since May

Biotech firm, Redx Pharma PLC (LON:REDX) has come out of administration.

AIM-listed Redx has been in administration since May after a £2mln loan from Liverpool City Council made to its subsidiary, Redx Oncology, fell due.

READ: Redx Pharma inches closer to coming out of administration

The company said in a statement that the administrators yesterday filed their final report in court and with the Registrar of Companies, bringing the administration to a close. 

"With effect from the time of filing the Final Report, the joint administrators vacated office, and the Companies have now resumed trading under the control of their respective directors," Redx said.

The company's board expects to make a further announcement shortly on the company's strategy for the future

READ: Redx Pharma set to exit administration after US$40mln sale

In July, the administrators, FRP Advisory, sold Redx’s BTK inhibitors business to US firm Loxo for US$40mln.

 

Quick facts: Redx Pharma Plc

Price: 7 GBX

AIM:REDX
Market: AIM
Market Cap: £8.85 m
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