(AOF) – Genomic Vision announces that it has today filed a declaration of cessation of payments with the Nanterre Commercial Court, and requested the opening of a judicial recovery procedure. The Euronext-listed biotech developing products and services for the precise characterization of DNA sequences claims that given the evolution of its stock price and the liquidity of shares on the market, it “was no longer in a position to able to cover all of its cash flow needs.
To date, Genomic Vision “reports a liability due and does not have sufficient available resources to meet it”. This will involve “evaluating all solutions to perpetuate the activity, maintaining jobs as well as seeking investors as part of a recovery plan, through continuation or a sale plan”.
The Nanterre Commercial Court will rule on this request to open a judicial recovery procedure during a hearing to be held on November 15, 2023. It “could choose to open a procedure liquidation” if he considers that the financing of an observation period is not assured.
Genomic Vision has asked Euronext to suspend its share price from November 6 before the market opens.
The company warned at the end of September that the financial resources available in the short term should only allow it to finance its activities “until the end of October 2023”.
© 2023 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
