Circassia said it had carried out a strategic review of the business and two drugs and concluded that it was ‘highly unlikely’ that it would be able to refinance the loan from Astra.

The company says its remaining events are currently expected to go ahead as planned in the third or fourth quarter 2020.

£15m raised to progress the assembly of the 1st LIGHT Proton Bean Therapy system. Whilst the Harley Street installation has been temporarily closed, management have focussed on finalising the documentation required for the LIGHT System to gain regulatory approval

88E said it was also continuing talks over the Yukon leases, located near the Charlie-1 well, which contains the 86 million barrel Cascade Prospect.