19th Nov 2024 10:39
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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LungLife AI Inc, up 21% at 10 pence, 12-month range 8.25p-94p. Says it has made strong progress towards the commercialisation of its LungLB product. The Thousand Oaks, California-based developer of diagnostic solutions for lung cancer says that its early access programme "has made significant progress with highly positive feedback", with orders already coming in. Expects to complete submission of an application for technical assessment of LungLB for Medicare coverage by the end of this year. Also, LungLife is "actively engaged" in talks with multiple possible strategic partners. Says these are "progressing positively" but notes that " the process is complex and requires careful consideration to ensure alignment on strategy and objectives".
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ValiRx PLC, up 16% at 1.8p, 12-month range 1.225p-11.25p. The Nottingham, England-based life science company's subsidiary Inaphaea BioLabs Ltd has secured a further contract to provide cell-based assays to UK biotech company Amply Discovery Ltd. ValiRx, which is focused on early-stage cancer therapeutics and women's health, says the multiphase deal is potentially worth more than GBP100,000 over eight months and includes an upfront payment to Inaphaea of approximately GBP31,000. An additional GBP21,000 will be due on completion of the first phase after four months, followed by GBP10,500 on completion of the remaining in-vitro phase after a further six weeks.
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AIM - LOSERS
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Woodbois Ltd, down 25% at 0.22p, 12-month range 0.22p-0.98p. The timber company has raised approximately GBP1.3 million through a subscription for 476.2 million new ordinary shares at 0.21p each. Says Axis Capital Markets Ltd has subscribed for the shares on behalf of its clients. Guernsey-registered, Africa-focused Woodbois says the new shares represent 10.08% of its total existing issued ordinary share capital prior to the subscription. Plans to use the proceeds for "general working capital purposes" but also to expand production capacity within its Gabon operations, and improve cost efficiency and profitability through investments in refining its operational processes and technologies.
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By Emma Curzon, Alliance News reporter
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