Poor old Neil Woodford. The investing public have really got it in for him now. He’s an example of the longstanding observation that first they put you on a pedestal and then they knock you down. His investment in Circassia (CIR) seems to be another example. Anyway, it seems that there is nothing in this company whatsoever. At 315p it is capitalised at £900m as against ntav of £169m at 30th June 2015. This figure is falling since losses are running at around £50m p.a.!
There is circa £200m of cash. Which is a lot for a deadbeat proposition. However, the end result is the same.