Pharma & Biotech
Pharma & Biotech
09:36 Tue 13 Sep 2022
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Analysts at Berenberg have reiterated a ‘Buy’ rating on Greatland Gold PLC (AIM:GGP, OTC:GRLGF) following recent key funding and board strengthening news plus its plans to list on the Australian Stock Exchange (ASX)
The Berenberg analysts, however, cut their share price target for Greatland Gold to 18.00p from 22.00p to reflect higher dilution than previously expected. In late afternoon trade on Tuesday, Greatland shares were trading at 9.05p, up 0.3% on Monday’s close having jumped higher that session when the news was announced.
Goodbody Health Ltd (AQSE:GDBY, OTCQB:GDBYF) chief executive Marc Howells has cheered a new era in which blood testing is increasingly detecting the presence of cancer cells early, allowing earlier diagnosis that can help save lives.
The UK-listed health, wellness and diagnostics firm is presently working to expand its businesses after a period in which COVID testing had dominated its operational attention and revenues during the pandemic years.
SpectrumX said recent changes to its state-of-the-art production facility in Knutsford, Cheshire, have paved the way towards the production of drug substance, SPC-069, for clinical trials.
Upgrades included an ISO Class 8 Cleanroom, which includes a best-in-class air purification, ventilation, and pressure-cascade system to prevent air contaminants during manufacturing processes.
Honeycomb Investment Trust reported a NAV return of 8% in the first half of 2022, in spite of the challenging underlying backdrop.
The trust, which specialises in asset-backed, senior secured loans, said the performance of its underlying credit assets remained consistent throughout the six months, with investment assets broadly stable at £583mln at the end of the half-year against £615mln six months earlier.
ANGLE PLC (AIM:AGL, OTCQX:ANPCY) said it has presented a new poster at the 100th American Society for Clinical Pathology (ASCP) meeting in Chicago.
The poster, which describes the novel use of Papanicolaou (Pap) staining procedures with cells harvested from blood samples using ANGLE’s Parsortix biopsy system, was selected as a finalist for a prestigious Blue Ribbon award for laboratory practice by ASCP judges.
Tlou Energy Limited provided an update on the construction of a power transmission line for its coal bed methane (CBM) extraction and power generation plant at Lesedi, west of Serowe in Botswana.
Tlou said overall progress achieved is currently 11% which is up from 8% reported last month, although the planned target was 17% indicating a slippage of 6%.
Bushveld Minerals returned to profitability in the first half of 2022 helped by higher vanadium prices and a steady rise in production.
Revenues jumped to US$76mln from US$47mln as the average ferrovanadium price rose by 35% and production edged up 4%.
Trident Royalties PLC (AIM:TRR) delivered sales of just over US$3.1mln during the six months to June 2022, up significantly from the US$77,000 a year earlier.
The loss before taxation amounted to US$800,000, a slight reduction on the US$1mln booked previously.
Futura Medical PLC (AIM:FUM, OTC:FAMDF) looks financially well set for the commercial phase of the journey of its lead product, MED3000 for erectile dysfunction.
Interim results for the group showed it had £6.68mln in the bank as of June 30, 2022, the period’s end, with a further £910,000 in research and development tax credits set for payment in the second half.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its five prospecting licences in the Kalahari Suture Zone (KSZ) and one at the Ditau project have been renewed and it has also been awarded a new prospecting licence in the KSZ.
“The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners,” said Kavango chief executive Ben Turney in a statement.
Union Jack Oil PLC (AIM:UJO) has published findings from an expert assessment of the reservoirs at the Wressle field, onshore UK, that indicate the potential for a significant upgrade to resources.
The company noted that consultant Gaffney, Cline & Associates saw potential for an extra 10.12mln barrels of oil-initially-in-place and 2.43mln barrels of potentially recoverable resources, based on its analysis of ‘speculative deeper oil-water contact’ for the Ashover Grit reservoir.
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) posted growth in revenue and profitability well ahead of pre-pandemic levels in the first half as visitors returned to theme parks and other attractions.
The technology provider said it expects the full-year 2022 to be in line with board expectations at the start of the year, excluding costs associated with a US$0.75mln acquisition of technology assets in the food & retail space.
Bradda Head Lithium Ltd said it has completed the first hole of its current 30-hole San Domingo pegmatite exploration programme in Central Arizona.
The company has confirmed significant intersections of spodumene-bearing pegmatite in this first hole.
DeepVerge has been awarded a two-year environmental monitoring and remediation contract with environmental technology company MèreMer for its Blue Carbon Resilience project.
Focused on the coastlines of Georgia and South Carolina, the contract is worth £2.4mln in aggregate and will be conducted on multiple salt-marsh sites owned and managed by the Georgia Ports Authority and the National Oceanic and Atmospheric Administration.
Tungsten West PLC (AIM:TUN) signed a non-binding term sheet for a US$30mln royalty investment.
The agreement comes after refinements were made this summer to its development plan for the Hemerdon tungsten project in the UK.
Faron Pharmaceuticals Oy (AIM:FARN, OTC:FPHAF) said its Traumakine drug has shown early promise as a potential therapeutic for emergency and trauma patients, especially when given early on.
The company said primates were treated intravenously with interferon beta-1a formulation at the time of major inflammation due to ischemia (where blood flow and oxygen are restricted to a part of the body).
Panther Metals PLC (LSE:PALM) said it has defined a new area, in the northeast of its Dotted Lake property in Canada, which is considered a very prospective zone for nickel mineralisation.
The new target was identified using a digitised historical geochemical soil survey report and Panther’s recent airborne geophysics and soil geochemistry surveys.
Deltic Energy is raising up to £17mln in a placing and separate open offer to fund the Selene well and licences offered in the latest North Sea round.
Selene is being drilled in partnership with Shell, which committed to the well in July, and contains an estimated 318 billion cubic feet (bcf) of gas on a P50 basis, worth an estimated US$624mln.
Custodian REIT PLC (LSE:CREI) said it has acquired a distribution facility between Glasgow and Edinburgh for £11.13mln, with the passing rent reflecting a net initial yield of 5.25%.
The temperature-controlled warehouse, which is currently fully let to UK distribution business Gist at £623,160 per year with five more on the lease, is location on the Eurocentral industrial estate, less than 15 miles to the centre of Glasgow and 35 miles from Edinburgh.
Future Metals NL (ASX:FME, AIM:FME) has moved to double the ceiling of a share purchase plan (SPP) intended to raise A$500,000 from existing shareholders after receiving heavily oversubscribed offers.
FME’s board has opted to exercise its discretion under the prospectus to increase the SPP to raise up to A$1 million and following the strong response will still need to scale back the applications.
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Gresham House CEO Tony Dalwood and chief financial officer Kevin Acton speak to Proactive London about its first half results. Assets under management rose by 11% in spite of the challenging backdrop with Dalwood also pleased with the progress being made overseas. Net core income improved…
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