Extending cash runway to evaluate options
Nanoco has announced that it has terminated the formal sale process of the company. It has taken actions to extend the cash runway from July this year to calendar Q2 2021. This is valuable as it creates time to progress active commercial opportunities delivering nano-materials for sensing and display applications, to pursue the IP infringement lawsuit against Samsung and secure medium-term funding. Given the uncertainty regarding future revenues we are not reinstating estimates even though the Takeover Panel restrictions are no longer in force.