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Results: CEL

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Celadon Pharma is on a nutso valuation, it is dangerous but surely it is a short

Back on March 23 I did a bearcast on Celadon Pharma (CEL) HERE which initially saw the shares marked lower from 125p to c105p. But the company fought back with private briefings. It did not draw attention to my well founded misgivings by issuing an RNS “refuting” what I said. That was a smart move. Instead someone roped in the serial liar John Story to do a mass new media spam pushing the shares, the CEO also did a Proactive interview and, for a while it worked. The shares hit 180p. Ouch. But then they started slipping.

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