Ondine Biomedical Inc (LON: OBI) has raised £2.8m at 12.5p/share, although the transaction is not expected to be completed until early November. This follows a partnership with Sweden-based Molnlycke Health Care that will take the Steriwave nasal antimicrobial treatment in the European and Middle East markets. The UK is the initial focus. The addressable market is $300m. The share price improved 26.7% to 7.125p.
Retail software developer Itim Group (LON: ITIM) managed to breakeven in the first half of 2024 on a 19% increase in revenues to £8.8m. Net cash is £3m. Zeus upgraded its 2024 expectations to a loss of £700,000, down from £1m. Net cash should be £2.1m at the end of 2024. The share price rose 18.6% to 41.5p.
Mortgage Advice Bureau (LON: MAB1) improved interim revenues by 5% to £123.9m, while underlying pre-tax profit was two-fifths ahead to £12.3m. The interim dividend is maintained at 13.4p/share. The market share for new mortgage lending edged up from 8.2%. Revenue per adviser was 9% higher. After a weak second quarter there are signs of demand gradually building. New case numbers are 11% ahead in July and August. The share price increased 6.43% to 579p.
Investment company Seed Innovations (LON: SEED) says it is optimistic about its investment portfolio and it had £3.5m in cash at the end of August. Cash alone covers the market capitalisation, while estimated NAV is £10.8m. The share price is 10.3% higher at 64p.
FALLERS
Corcel (LON: CRCL) says 90%-owned Atlas Petroleum Exploration Worldwide has authorisation for the assignment of an additional 20% interest in operated block KON-16, onshore Angola. Apex will have a 55% interest. Corcel has raised £1.22m at 0.1p/share. The share price slipped 21.2% to 0.1025p.
Clontarf Energy (LON: CLON) has raised £450,000 at 0.045p/share. The cash will be invested in the Bolivian lithium interests. The share price fell 12.2% to 0.0505p.
Scancell (LON: SCLP) reported a pre-tax loss of £9.1m in the year to April 2024 following an increase in research and development spending. Net cash is £14.8m and that could fall to £4.7m by the end of April 2025. Scancell is expected to release data on three different cancer vaccines in the next nine months. The share price declined 6.67% to 14p.
Manx Financial (LON: MFX) reported interims showing a 16% increase in pre-tax profit to £3.5m. The net loan book grew and that offset lower net interest income. The board believes that the second half will be less positive than the first half. The share price dipped 3.13% to 15.5p.