16th Aug 2024 10:53
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Lunglife AI Inc, up 8.2% at 13.26 pence, 12-month range 12p-142.1p. The developer of clinical diagnostic solutions for lung cancer shares positive news. Wins a 'local coverage determination' for risk stratification testing of indeterminate lung nodules. "It enables us to progress to the next stage of commercialisation by providing a clear pathway to make our innovative LungLB test more accessible and reimbursable under Medicare," says CEO Paul Pagano.
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PipeHawk PLC, up 67% at 2.25p, 12-month range 1.2p-11.75p. The stock jumps despite no official news from the company. PipeHawk offers engineering solutions and owns QM Systems Ltd, a turnkey provider of automation, test, and manufacturing systems. It last communicated with the market in July, announcing that it had appointed RSM UK Restructuring Advisory LLP as administrators to QM. This follows the subsidiary seeing various challenges, such as a reduction in the number of orders and fair value.
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AIM - LOSERS
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Biome Technologies PLC, down 33% at 14.35p, 12-month range 8p-180p. The Southampton, England-based bioplastics and radio frequency technology business says revenue fell 36% to GBP2.3 million in the half year that ended June 30 from GBP3.6 million a year previous. Looking ahead, full-year revenue is expected to be "significantly below" expectations, albeit still ahead of GBP7.0 million reported in the previous year. In addition, Biome proposes a fundraise of GBP1.0 million for working capital purposes. A subscription of 19.0 million new shares at 5p split across two tranches will raise a total of GBP950,000 before expenses. The first tranche will consist of 200,000 shares followed by a second for 18.8 million shares. Retail offer will raise further GBP80,000 via the placing of 1.6 million shares. The price represents a 77% discount to Thursday's closing price of 21.5p.
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By Elizabeth Winter, Alliance News deputy news editor, Global services
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