9th Jul 2021 10:52
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Cambridge Cognition Holdings PLC, up 8.1% at 177.8 pence, 12-month range 35.1p-188p. Wins GBP1 million contract as cognitive assessment partner for a late phase cancer trial. Revenue from the contract is expected to be recognised over the next six years. "This is the second contract for a top ten pharmaceutical company with a strong pipeline of oncology products," the digital neuroscience company notes.
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Open Orphan, up 7.4% at 26.85p, 12-month range 11.5p-48p. Subsidiary hVIVO signs "significant" contract with AIM ImmunoTech Inc to test its antiviral candidate, Ampligen, using both the human Rhinovirus HRV and Influenza human challenge study models as part of a single study. This antiviral study will be conducted by hVIVO. The pharmaceutical services firm expects majority of revenue from the contract to be recognised in the current financial year. "As previously confirmed to the market, our London facilities are comprehensively prebooked throughout this year and into next year. As such, I am also delighted to confirm that we were solidly Ebitda profitable in H1 2021 and we remain on target for a profitable and successful 2021," says Open Orphan Executive Chair Cathal Friel.
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AIM - LOSERS
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Evgen Pharma PLC, down 30% at 5.19p, 12-month range 4.22p-15.76p. The clinical stage drug development company is "surprised and disappointed" after being informed that independent data management committee concludes analyses of SFX-01 in Star Covid-19 study did not meet the interim futility hurdle required to continue the study, and that active treatment would not be likely to show an overall statistically significant improvement. Recruitment into trial to be halted. "We are surprised and disappointed by these findings given the strong preclinical hypothesis surrounding sulforaphane as an Nrf2 activator with potential direct antiviral properties," says Chief Executive Huw Jones.
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Empyrean Energy PLC, down 24% at 6.43p, 12-month range 3.05p-9p. The oil and gas development company raises GBP5.0 million via placing of 83.7 million shares at price of 6.0p each. "Funds raised under this placing will primarily be used to secure a suitable drilling rig and order long lead items and for the Company's general working capital requirements as it prepares to drill the Jade prospect at its 100% owned Block 29/11 license in China, scheduled for late 2021," it says.
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Ilika PLC, down 24% at 153p, 12-month range 56.4p-285p. The advanced solid-state battery company plans placing of up to 12.8 million shares at price of 140p each to raise GBP18.0 million. Also intends to raise up to further GBP3.7 million through open offer, and will also make retail offer for up to GBP3.0 million via PrimaryBid. In total, eyes raising total gross proceeds of GBP24.7 million. "The net proceeds of the capital raising are expected to support the development of Ilika's solid-state electric vehicle pouch cells through its Goliath programme until the programme reaches and exceeds Lithium Ion Battery equivalence," it says.
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By Lucy Heming;Â [email protected]
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