Shares in Cellmid closed down 4 per cent to 9.6 cents on Wednesday after shareholders gave a thumbs down to its plan to try to find a buyer for its biotech asset Midkine.
Management have appointed two advisers to search for potential buyers, apparently not keen on looking themselves, with fees payable to the consultants on completion of any deal.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
