Pharma & Biotech
Pharma & Biotech
09:28 Tue 20 Sep 2022
PYX Resources Ltd (LSE:PYX, NSX:PYX) has delivered excellent operational results amid continued improvement in financial performance, according to Hong Kong and China-based Cedrus Investments.
Cedrus rates PYX with an ‘overweight’ rating and a 185p (A$3.35) price target suggesting substantial upside to the current market price of 49.33p.
Love Hemp Group PLC (AQSE:LIFE, OTCQB:WRHLF) chair Graham Mullis told investors that it continues to make progress at both corporate and operational levels, as it confirmed that it has now paid a fine from the AQSE exchange.
The company noted that it received a discount for early settlement, paying £70,000 instead of £100,000.
Shore Capital has reiterated its ‘buy’ rating on Curtis Banks Group PLC (AIM:CBP) with a fair value of 300p per share despite lowering its earnings per share (EPS) forecasts by 5% after rebasing Fintech revenue estimates.
The broker said the core business remains resilient, interest income is rising although Fintech has disappointed.
Plexus Holdings PLC (AIM:POS) announced that it has been shortlisted in the ‘Environmental Sustainability Innovation’ and ‘Significant Contribution to the Industry’ categories of the Offshore Network’s OWI Global Awards 2022.
Commenting on the nominations, in a statement, Plexus’ CEO Ben Van Bilderbeek said: “We are absolutely delighted to be included in these two categories and thank the OWI for the nominations. Our proprietary wellhead technology has been supporting the oil and gas industry for many years, particularly with regards to our ‘through the BOP’ and leak-proof ‘HG’ metal-to-metal sealing technology, which can help reduce methane gas emissions, over the lifetime of a well, thereby helping operators meet their ESG goals.”
Likely shortages of lithium to make batteries for electric vehicles (EVs) in the coming decade should drive a transition to hydrogen fuel cells for luxury cars and larger vehicles.
The Advanced Propulsion Centre (APC), which is backed by the UK government with the aim of helping accelerate the automotive industry’s transition to net-zero, today published its quarterly industry demand report.
Arecor Therapeutics PLC (AIM:AREC) has announced positive results from the Phase I clinical trial of its ultra-rapid acting, ultra-concentrated insulin product candidate, AT278, at the European Association for the Study of Diabetes (EASD) Annual Meeting.
AT278 is designed to significantly accelerate insulin absorption post-injection to enable more effective and convenient management of blood glucose levels in people with high daily insulin requirements.
Ondine Biomedical Inc (AIM:OBI) has noted new research that shows photodisinfection successfully eradicates pathogens associated with replacement joint infections.
The company pointed out that a research team in Zurich, Switzerland has presented results from an in vitro study showing that photodisinfection achieved more than 99.99% eradication (4-7 log10 kill) of the key pathogens in biofilms associated with implantable joint infections, with no reported re-growth.
KRM22 PLC (AIM:KRM, OTC:KRMCF) has a story as powerful as ever, said stockbroker finnCap in a note reacting to the company’s interim results.
The software company saw its annualised recurring revenue (ARR) for the six months to June 30, 2022, rise to £4.1mln. up from £3.7mln over the same period last year. Additionally, the group reported a new contracted ARR of £700,000, up from £300,000, while the post-period ARR increased even further to £4.4mln.
Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) said it has received a Competent Person’s Report (CPR) from Calgary, Alberta-based GLJ Limited dated August 19, 2022, which provides an independent resources assessment and evaluation of its material helium assets to date.
Saskatoon-based Royal controls over 1 million acres of prospective helium land across southern Saskatchewan and southeastern Alberta.
Feedback PLC (AIM:FDBK) pleased investors with strong full year numbers which sent the share price up by 3.85%.
Revenues rose 105% to £0.59mln from £0.29mln, its highest ever reported revenue since becoming a medical imaging company in 2014, while sales soared 280% to £0.67mln with Bleepa contributing £0.26mln, up from £0.08mln in 2021.
SpectrumX said it has found a partner to support the design and execution of a Phase I clinical trial for SPX-001, its respiratory infection drug candidate
The therapy, based on SpectrumX’s licensed SPC-069 technology, is a hypochlorous acid (HOCl)-based nebulised treatment with broad-spectrum antipathogenic properties.
Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) announced a follow-on contract with a Chinese broadband network customer worth US$4.6mln.
The supplier of semiconductor technology for networking appliances said it will supply system-on-chip devices to enable fiber-to-the-room (FTTR) deployments, an alternative to wi-fi.
IQGeo Group PLC (AIM:IQG) broke even in the first half of the year as the top line grew more than anticipated, including an increasing proportion of recurring revenues.
The provider of geospatial software to the telecoms and utility industries reported an underlying profit (EBITDA) of £0.2mln for the first six months of the year.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) reported a 66% increase in interim profits and said it expects full-year trading to be in line with market expectations.
The developer and licensor of mobile-focused games posted a pretax profit of £1.3mln for the six months to June 30 with a 10% jump in sales to £8.5mln, driven by growth in its content licensing business
AdEPT Technology Group PLC (AIM:ADT) will return to paying interim dividends even as chip shortages and inflationary pressures weigh on current trading.
In an update ahead of the company’s AGM being held on Tuesday, AdEPT said it will pay a dividend of 2.50p per share for the six months ended September 30, an increase of 150% over the final dividend of 1.00p for the year ended March 31, 2022.
San Leon Energy PLC’s (AIM:SLE, AQSE:SLE, OTC:SLGYF) highligted a statement from 11% owned Deklar Petroleum on progress at the Oza Oil Field in Nigeria toward establishing larger and more stable volumes of crude oil transport.
The statement said a 7,800 barrel shipment of crude previously delivered to the Umugini pipeline handling facilities has now been delivered to the Forcados crude oil export terminal and is now ready for export – subject to the repair of an offshore loading system.
Alternative asset manager Litigation Capital Management Ltd (AIM:LIT) said it is positioned ‘exceptionally well’ for further growth after seeing assets under management increase 23% to A$414mln in the year ended June 30, a figure that jumped to A$452mln by the end of last month.
“Reflecting on the past year navigating the impacts of Covid-related restrictions, I am delighted with the growth achieved and particularly with the significant progress in our asset management business and total assets under management now at A$452mln,” said LCM chief executive Patrick Moloney.
Cambridge Cognition Holdings said revenues climbed by almost a third in the first half of 2022 while orders hit a new high.
The AI-based brain illness specialist reported contracted orders of £18.6mln on 30 June compared to £17.1mln six months earlier. First-half revenues rose to £5.9mln against £4.5mln previously.
Providence Resources PLC (AIM:PVR, OTC:PVDRF) confirmed it will change its name to Barryroe Offshore Energy Plc on Tuesday, September 27.
Providence shares will trade under the ticker ‘BEY’ in London.
Braveheart Investment Group PLC (AIM:BRH) said it raised £750,000 (before expenses) via a placing and subscription for new ordinary shares of 2p each at an issue price of 10.25p per share.
It issued 1.95mln new shares at the issue price pursuant to a placing, raising gross proceeds of £200,000.
Synairgen PLC (AIM:SNG, OTC:SYGGF) will present findings next month that show that its SNG001 drug reduced the relative risk of recognised symptoms of long Covid compared to placebo.
The findings are based on analysis of data from 60- and 90-day follow-up visits to patients hospitalised with Covid-19, some of which were treated with SNG001, an investigational formulation for inhalation containing the broad-spectrum antiviral protein interferon beta.
KRM22 PLC (AIM:KRM, OTC:KRMCF) will focus on driving sales and reducing churn as the technology and software investment company said it is on the right track to achieve internal targets set at the start of the year.
The comments came as it reported annualised recurring revenue (ARR) for the six months to 30 June rose to £4.1mln from £3.7mln at the same time last year.
Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) said it has started its strategy to accelerate growth in the US with a number of key appointments, including Jude O’Connor, who was announced as the group’s new chief revenue officer.
The in-game advertising and video game monetisation platform said it will increase promotion of its full product offering in the US, building on the recent successful implementation in Europe of a US$30mln commercial deal signed with Azerion.
Spectral MD Holdings saw its revenues jump by 76% to US$12.3mln in the six months to June 30, 2022, which was all from research grants for its AI-based product development programmes.
The AIM-listed group was recently awarded a further US$8.2mln by the Biomedical Advanced Research and Development Authority (BARDA) to accelerate the commercialisation of its DeepView technology, taking the amount it has received from the US agency to more than US$125mln.
OptiBiotix Health PLC (AIM:OPTI) said its partner Apollo Hospitals & Pharmacies has launched GoFigure weight management products in India.
With 5,000 outlets, Apollo owns the country’s largest pharmacy chain. It will initially stock meal replacement shakes and powdered shots.
Trident Royalties PLC (AIM:TRR) said it has appointed Richard Hughes as an executive director and chief financial officer, effective immediately.
He succeeds Martin Page who will step down today from the diversified mining royalty company.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said it has identified an off-hole electromagnetic conductor beneath the nickel gossan at the Krona prospect, part of its Ragged Range project in Western Australia.
The company drilled a 174 metre-hole to test a shallow (100m) conductor identified by a ground geophysics survey. Due to the steep slopes around the gossan, the closest achievable drilling position was about 50 metres (m) from the southeast corner of the plate and 130m from the plate’s centre and the reverse circulation drill was unable to explain the source of the conductor.
Faron Pharmaceuticals Limited (AIM:FARN, OTC:FPHAF) said data from its early phase clinical trial showed patients taking its cancer drug enjoyed a significantly higher survival rate than those who didn’t receive it.
Bexmarilimab was used on multiple different tumour types to assess both its safety and efficacy in the MATINS study designed to assess different dosing regimens.
i3 Energy PLC said operations for the drilling of the Serenity appraisal well on P.2358, Block 13/23c in the North Sea have now started.
The Stena Don semi-submersible drilling unit is now on contract to i3 and preparing for the spudding of the well, which is expected to occur later this week, said the statement.
Chaarat Gold Holdings Ltd (AIM:CGH) noted transactions to the stock exchange in which chairman Martin Andersson, via the Labro Investments Limited vehicle, saw his interest in the company. Labro acquired around 295,000 additional Chaarat shares, taking its interest in the company to 307.81mln shares or 44.63% of the company.
Xpediator PLC (AIM:XPD) gave notice that its interim results, for the six months ended June 30, will be released on Monday 26 September.
ATOME Energy PLC (AIM:ATOM) gave notice that its interim results, for the six months ended June 30, will be released on Monday 26 September.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) noted that three directors have sold shares in the company that were issued as following the exercise of company share options. Chief executive Jay Cheatham sold 1.3mln shares, Justin Hondris director for finance and corporate development sold 2mln shares, and Robert Rosenthal technical director sold 900,000 shares. The transactions had an averaged price of 123.4p.
In a statement, Pantheon chair Phillip Gobe told investors that the shares sales precede an extended flow test of a key well in Alaska, due to take place next month, and therefore the company could see a prolonged ‘closed period’ for director dealing.
“Today’s announcement represents only the second occasion since the Company’s IPO in 2006 that any director has sold shares in the company,” Gobe said.
Tlou Energy Ltd (AIM:TLOU, ASX:TOU, BSE:TLOU) managing director Tony Gilby said the company hit several significant targets over the past year. “Signing the PPA and being the first Independent Power Producer (IPP) in Botswana to do so was a major accomplishment. “Starting work on the transmission line grid connection was another notable success and we are grateful for the continued support of BPOPF. Losses for the year to end-June 2022 were A$4.3mln (A$2.5mln).
UK self-invested personal pension (SIPP) provider Curtis Banks Group PLC (AIM:CBP) has announced the payment schedule of its 2.5p interim dividend declaration. Ex-dividend date will be October 6 with an October 7 record date, while payment is pegged for November 11
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