Lung cancer diagnostic technology developer LungLife AI Inc (LON: LLAI) says that there has been a positive response to the Early Access Programme for LungLB. Orders have been received. Medicare coverage will be applied for. The MoIDx programme has been used to streamline the evaluation process and has provided guidance. Management is still trying to identify the partner it requires to commercialise the product. There was $1.77m in the bank at the end of October and this should last until the second quarter of 2025. The share price recovered 21.2% to 10p.
More good news from ValiRx (LON: VAL). Its subsidiary Inaphaea BioLabs has gained a further contract with Amply Discovery. This will evaluate formulations of Amply’s developmental siRNA targets in Inaphaea’s Triple Negative Breast Cancer (TNBC) Patient Derived Cells (PDCs) both on their own and in combination with other drugs. There is an upfront payment of £31,000 with a further £21,000 after the first phase. The contract could potentially be worth more than £100,000 over an eight-month period. On Monday, the subsidiary confirmed shipment of the first batch of Patient Derived Cells, which are part of a new range of assay ready reagents. The share price rose 16.1% to 1.8p.
Modular housing supplier Eco Buildings Group (LON: ECOB) has received a letter of intent for the purchase of 10,000 modular homes by a company in the Dominican Republic. Subject to regulatory approvals these would be supplied over five years. The contract would be worth $237m. There could potentially be a manufacturing facility set up in the Dominican Republic. The share price increased 14.8% to 7.75p.
Skin health technology developer SkinBioTherapeutics (LON: SBTX) has finalised the commercial agreement with Croda Beauty Care. The deal covers the active cosmetic sector. Croda is paying tiered royalties based on global sales revenues. Croda is not releasing any forecasts of sales. This agreement will help SkinBioTherapeutics to become cash flow positive in the year to June 2025. The share price improved 7.02% to 15.25p.
FALLERS
Woodbois (LON: WBI) is raising £1m at 0.21p/share via Axis Capital Markets. The cash will be used for working capital. The timber company recently raised £484,00 at 0.28p/share. The share price slipped 25.4% to 0.22p.
UK Oil & Gas (LON: UKOG) is raising £500,000 via a placing at 0.025p/share and more could be raised via a retail offer. The cash will be used to purchase a salt cavern hydrogen storage site in the East Yorkshire salt basin. It is near to the planned Project Union hydrogen pipeline network. Relevant IP will also be acquired. Management is talking to an investor for this project and the Dorset project. The retail offer to existing shareholders closes at 5pm on 21 November. The share price declined by one-quarter to 0.0255p.
Enwell Energy (LON: ENW) shares continue to fall following yesterday’s announcement that the licences on the company’s producing oil and gas wells in Ukraine have been suspended because of its ownership structure. This means that Enwell Energy will have no production. It will still be profitable this year but will lose money in 2025. Net cash is expected to be $88.6m at the end of 2024. The share price dipped a further 16.1% to 14.125p.
Yesterday, Caledonian Trust (LON: CNN) shareholders passed the resolution to leave AIM. The last day of trading is 25 November. The share price fell 14.3% to 60p.