EiRx requests share suspension

EiRx Therapeutics, based in Cork, said it has requested a suspension of trading in its shares on AIM, pending clarification of its financial position.

It said its bankers have declined to provide the replacement £350,000-pound facility, despite Billam AG having agreed to extend its guarantee to £350,000.

EiRx said as it has paid back £200,000, it is facing a “substantial” shortfall of £350,000, and cannot say if it will be able to secure alternative funding before September, when the £300,000-loan facility from Billam becomes available.

With Billiam’s help, EiRx said it is seeking to put replacement funding in place.