CeNeS in takeover talks
CeNeS Pharmaceuticals Plc saw its shares rise today after it announced discussions which could lead to a takeover of the company. At 1:25pm shares in the company had gone up 57.81 per cent.
Liverpool fans may bid to buy clubThe company's shares have steadily been declining until the surprise announcement today.
Analyst Navid Malik of Collins Stewart said, "They have been struggling to get their products to the market because they have had a bit of a torrid time getting through the evaluation stage,"
Malik continued, "Who could be interested in CeNes is difficult to say, but given the fact that they are in the pain market with their morphine substitute, it could be a pain company," reports Reuters.
In December CeNeS said that it was about to begin the third phase programme in the US for post-operative pain drug M6G. The company said it expected a licensing drug for M6G in 2008.
The company also launched second phase trials in September for CNS 5161, a drug to combat chronic pain from nerve damage.
CeNeS said that Nomura Code Securities Limited was acting as its financial advisor and that Finn Capital Markets was still their Nominated Advisor and Broker.
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