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AIM WINNERS & LOSERS: Titon falls amid subdued housing market demand

11th Jul 2024 10:08

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.

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AIM - WINNERS

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Totally PLC, up 3.5% at 7.50 pence, 12-month range 3.73p-13.50p. The Derby, England-based healthcare services provider announces three elective care contracts valued at about GBP8 million. Chief Executive Wendy Lawrence says: "We are delighted to confirm these contract extensions, many of which have been in review over the election period. There are now encouraging signs that the temporary election hiatus has lifted."

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Faron Pharmaceuticals Ltd, up 21% at 119.90p, 12-month range 85.00p-307.38p. Faron says it had a formal meeting with the US Food & Drug Administration to discuss the registrational clinical development plan for bexmarilimab in the treatment myelodysplastic syndrome. It says the FDA acknowledged the difficulties of running a randomized study with a comparator in the relapsed/refractory setting and instead proposed that Faron conduct a confirmatory Phase III study in frontline high-risk MDS, that would not require a separate Phase III in r/r MDS. "The phase III suggested by the FDA targets a significantly larger patient population with potential for faster approval earlier than anticipated, speeding up and increasing our sales forecast for bexmarilimab," Faron says.

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AIM - LOSERS

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Titon Holdings PLC, down 10% at 72.00p, 12-month range 60.00p-91.50p. Titon makes ventilation systems, as well as window and door hardware. It notes continued subdued market demand in the housing market and construction delays, leading to slow conversion of orders into sales. As a result, trading in the UK and Europe in the year ending September 30 is expected to be below the company's prior expectations. CEO Tom Carpenter says: "It is well known that the UK and European new-build market has been depressed which has affected many of Titon's customers and industry peers. As a result, the company continues to face challenges with lower sales than last anticipated."

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By Sophie Rose, Alliance News senior reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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