25th Sep 2024 10:43
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Ovoca Bio PLC, more than doubled to 1.4 pence, 12-month range 0.55p-1.6p. Pretax loss for first half of 2024 narrowed to EUR1.2 million from EUR2.4 million a year before. Ovoca currently is not revenue-generating. Administrative expenses declined 69% to EUR319,000 from EUR1.0 million. "During the period, our company has maintained the financial resources to assist in a smooth transition to a new phase in corporate development after last year's disappointing top-line results from the phase 2 dose ranging study assessing Orenetide...announced on 31 August 2023," comments Chief Executive Officer Tim McCutcheon. "During the first half of the year we continued to take steps to optimise our corporate structure and patent portfolio...The company's focus presently is reviewing new opportunities and we will keep shareholders updated with relevant updates as appropriate."
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Electric Guitar PLC, up 23% at 0.8 pence, 12-month range 0.6p-2.1p. Announces creation of loyalty app to integrate open banking data, "enhancing consumer engagement and providing personalised financial insights", through strategic collaboration between its primary operating subsidiary 3radical Ltd, its joint venture Marcomms.ai, and financial technology firm Little Birdie.
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AIM - LOSERS
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Directa Plus PLC, down 31% at 11p, 12-month range 11p-48.5p. For first half of 2024 pretax loss widens to GBP2.5 million from GBP1.9 million. Revenue falls to EUR3.4 million from EUR4.6 million. Warns that full-year revenue will be "materially below market expectations" as it is experiencing "shorter term headwinds". "Nevertheless, we believe we are in a strong position to convert new material contracts from our growing pipeline of opportunities, including for Setcar, and benefit from a robust financial platform," CEO Giulio Cesareo says. "In line with our strategic aim of strengthening our commercial capabilities to drive growth, we are also focused on further reducing direct production costs...with the aim of exiting FY2025 at a breakeven Ebitda run rate.
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By Emma Curzon, Alliance News reporter
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