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CIP Merchant Capital acquires 3.72% stake in Ixico for £1.2m
StockMarketWire.com
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Investment management company CIP Merchant Capital said it had invested £1.2 million in analytics company Ixico, acquiring a 3.72% stake in the company.
The investment comes after the fall in Ixico's share price.
'The CIP board notes the contract update released by Ixico on 23 March 2021 in respect of the Huntingdon's disease phase III trial and open-label extension studies by its largest pharma customer and the subsequent adverse movement in its share price,' the company said.
'The company's board believes that, regardless of such update's potential short term impact on Ixico's financial performance, Ixico nevertheless maintains a solid pipeline with a contracted order book underpinned by its advanced data analytics capability in neuroscience,' it added.
At 8:01am: (LON:CIP) Cip Merchant Capital Limited Ord Npv share price was 0p at 45.5p
Story provided by StockMarketWire.com
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