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ICP Biotechnology today requested a trading halt in its securities today pending a material announcement in the next 24 hours.
Shares in the Auckland protein biologics manufacturer last traded at 1.5 cents. They have slumped from around 20c just over two years ago.
Income increased 165 per cent to $4.7 million and the loss halved to $3.2m in the half year to December. The operating loss fell to $2.0m from $5.1m.
While equity improved to a $5.1m credit from an $8.7m deficit, cashflow deteriorated to negative $8.85m from negative $5.95m a year earlier.
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Viking Capital, the listed investment vehicle of Brent King and major ICP shareholder, also requested a trading halt.
Its shares have slumped from 33 cents a year ago to 14 cents.
- NZPA
