Quintis goes into trading halt
You have no credits left. To view this article subscribe to Business News.
You have used {{points}} and have {{current_points}} remaining. Your credits will reset on {{reset_date}}.
This article is part of a special report and is available to paid Business News subscribers only.
You can purchase access to this special report or subscribe to Business News.
You can purchase access to this special report or subscribe to Business News.
This article is premium content and is available to paid Business News subscribers only.
Subscribe to Business News.
Subscribe to Business News.
Monday, 15 May, 2017 - 15:45
Category:
Shares in sandalwood company Quintis have gone into a trading halt, after horrific losses last week including a nearly 36 per cent fall on Friday.
The company told the ASX it expects the trading halt to be in place until Wednesday when it plans to release a statement.
Quintis’s share price slumped to 29.5 cents before the halt, having crashed from $1.07 each earlier in the week after it revealed its Santalis Pharmaceuticals business had lost a contract supplying Galderma, a subsidiary of Nestle.
The company has been under assault for weeks following a negative report by US-based short seller Glaucus Research accusing the company of being a Ponzi scheme. Founder Frank Wilson left the business to participate in a potential takeover.
Companies:
People: