Ovoca Bio (LON: OVB) reported a halved loss of €1.2m due to lower overheads. Cash was €2.9m at the end of June 2024 and cash refunds from the Australian government of €650,000 are anticipated. The share price rebounded 92.6% to 1.3p.
Further contract news from Electric Guitar (LON: ELEG) has boosted the share price 30.8% to 0.85p. It has developed a loyalty app alongside joint venture Marcomms.ai and Little Birdie. This is focused on integrating Open Banking, customer engagement and personalised insights. This follows a campaign win with Singapore-based media network Mediacorp, which is using the Voco engagement platform was used to capture customer data on its website.
Technology companies developer Tekcapital (LON: TEK) increased its NAV from 27 cents/share to 35 cents/share in the six months to June 2024. This is due to rises in the valuation of unquoted portfolio companies and the flotation of Microsalt (LON: SALT). There are plans to float generative AI business GenIP, so that could provide a further boost. The Tekcapital share price rose 10.8% to 7p.
Shield Therapeutics (LON: STX) has revealed phase 3 paediatric study results for ACCRUFeR, its iron deficiency anaemia treatment, that show highly clinically relevant effectiveness. This will support filings with the FDA and the European authorities for children older than one month. The FDA filing should be in the first quarter of 2025. The share price increased 9.72% to 3.95p.
FALLERS
Energy services supplier Enteq Technologies (LON: NTQ) has raised £1.5m from a placing and subscription at 5p/share. A retail offer could raise up to £500,000 and it closes on 30 September. The cash will help to finance the commercial launch of the SABER (Steer-at-Bit Enteq Rotary) tool. Testing with the first customer is ongoing. The fleet of SABER tools will be raised to ten. The share price slumped 41.7% to 5.25p.
Graphene technology developer Directa Plus (LON: DCTA) is taking a cautious approach to the environmental remediation tenders that it has been expecting to be awarded. These have been removed from forecasts and full year revenues are estimated at €7.3m, down from €10.5m, with a loss of €5.1m. The interim revenues declined 27% to €3.45m, although this was partly offset by the concentration on higher margin business. If Directa Plus wins one of the tenders, then revenues could rise significantly over the next year. There should still be net cash of €5.2m at the end of 2024, so Directa Plus can wait for the tenders to come through. The share price dipped 28.1% to 11.5p.
Anglesey Mining (LON: AYM) has raised £220,000 at 1p/share. This will finance development work at Parys Mountain and further assessment of the Grangesberg iron ore mine. The share price fell 22.2% to 1.05p.
Data analytics technology developer Cirata (LON: CRTA) says finance director Ijoma Maluza will step down at the end of 2024. He was involved in the turnaround of the company. Ricardo Moura will join the board at the end of September and take on the role of interim finance director. The share price declined 20.3% to 23.025p.