31st Dec 2024 10:58
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
----------
AIM - WINNERS
----------
ValiRx PLC, up 28% at 0.80 pence, 12-month range 0.61p-6.20p. The life science company, with a focus on early-stage cancer therapeutics, says an exclusivity period with TheoremRx has been extended for a final time to May 31. "This final, time limited, extension has been granted to allow TheoremRx to complete their M&A transaction with a NASDAQ-listed company, which is required to enable execution of the sub-license of VAL201 to TheoremRx. Further details on the transaction will be made public in due course and we remain supportive of the TheoremRx team and continue to closely monitor their progress," Chief Executive Officer Mark Eccleston says.
----------
Quadrise PLC, up 3.2% at 7.18 pence, 12-month range 1.14p-7.38p. The energy technology company and supplier of MSAR emulsion technology fuel hits this 12-month high on Tuesday, rounding off a strong year for the stock which has risen by more than double.
----------
Rosebank Industries PLC, up 1.1% at 879.50 pence, 12-month range 345.00p-879.50p. One of only a handful of new listings on AIM this year, shares in the company have shone on the stock market so far. Shares have more than doubled from its 434.00p initial public offering price. Rosebank is run by founders and former senior managers of Melrose Industries PLC and will follow a similar strategy of buying and improving industrial companies. It floated in July.
----------
AIM - LOSERS
----------
Sareum Holdings PLC, down 7.4% at 25.00p, 12-month range 10.00p-78.00p. A biopharma company in the US has served notice to end a development and commercialisation deal for the SRA737 clinical-stage cancer treatment. The Cambridge, England-based pharmaceutical company back in January said co-development partner CRT Pioneer Fund entered into a development and commercialisation pact for SRA737 with the unnamed US biopharmaceutical company. However, CPF has informed Sareum that the US-based firm served a notice of termination of the SRA737 licence. Sareum adds: "The notice period runs for 90 days and Sareum will meet the team from CPF to discuss what steps, if any, are appropriate to seek an alternative licensee once the asset has returned to CPF on March 27, 2025."
Sareum Executive Chair Stephen Parker says the firm is "clearly disappointed by this outcome" but is now "fully focused on its pipeline of TYK2/JAK1 inhibitors and our priority is to drive our lead programme, SDC-1801, towards Phase 2 development."
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.