Cancer diagnostics firm Angle (LON: AGL) has made its second positive announcement of the week. There are breakthrough results from DNA molecular analysis of cancer patient blood samples, and this covers many types of cancer. This proves the effectiveness of the Parsortix system combined with DNA analysis. Angle believes that using CTC-DNA testing of living cancer cells alongside ctDNA (DNA fragments released from dead cancer cells into the blood) will improve the way cancer is treated. It may enable doctors to track the clonal evolution of a patient’s cancer. Earlier in the week, a $250,000 pilot study to assess breast cancer patients was secured. The share price jumped 66% to 22p.
Offshore products and services provider Tekmar Group (LON: TGP) has been awarded a contract to supply its Generation 10 cable protection system. The contract is worth an initial £3.5m and production will commence this year for delivery in 2025. The share price increased 17.1% to 12p.
Floorcoverings distributor Likewise (LON: LIKE) grew 2023 revenues by 13% to £139.5m, which is better than expected. The overall market declined. Pre-tax profit is forecast to slip from £2.6m to £2.5m. The profit is expected to rise to £3.4m in 2024 because of the operational gearing of the business. The share price improved 12.5% to 22.5p.
Tavistock Investments (LON: TAVI) chief executive Brian Raven has bought 753,000 shares at 4.27p each. That takes his stake to 12.6%. The share price recovered 10.5% to 5.25p.
Oil and gas producer Trinity Exploration & Production (LON: TRIN) says the Trinidad and Tobago Finance Act 2023, which reforms Supplemental Petroleum Tax, will positively affect cash flow and help to fund further investment. The share price rose 9.76% to 45p.
Cybersecurity services provider Shearwater Group (LON: SWG) has gained a three-year contract with a global bank valued at $3.15m. This includes spending that was previously deferred. It has also won a second government contract worth £840,000 over three years. Both contracts will contribute to the 2023-24 figures. The share price is 10.3% ahead at 50.75p.
FALLERS
Landore Resources Ltd (LON: LND) has raised £600,000 at 2.4p/share. This will help to fund the early development of the BAM gold project in Northwestern Ontario. Results from last year’s infill core sampling work will be reported during the first quarter of 2024. There will be a drilling programme this year. The postponement of the TSX Venture Exchange listing and he related fundraising has led to cost savings including the stepping down of chief executive Claude Lemasson and non-exec Larry Strauss. Glenn Featherby becomes interim chief executive. The share price fell 12.9% to 2.7p.
Full year revenues of fintech company TruFin (LON: TRU) were lower than expected due to a project delay, although the loss was in line with expectations. The loss is around £7.6m, including a £1.3m loss on sale of Vertus Capital, and this should reduce in 2024, but TruFin is set to move into net debt. The share price was 3% lower at 48.5p.
Antibiotics developer Destiny Pharma (LON: DEST) confirmed that it is funded until the beginning of 2025. Partnering activity continues and there are discussions with multiple parties. The share price declined 2.9% to 67p.
Ex-dividends
Cohort (LON: CHRT) is paying an interim dividend of 4.7p/share and the share price fell 6p to 554p.
Iomart (LON: IOM) is paying an interim dividend of 1.94p/share and the share price rose 0.3p to 153.7p.
James Latham (LON: LTHM) is paying an interim dividend of 7.75p/share and the share price is 20p lower at 1175p.
Smart Metering Systems (LON: SMS) is paying a dividend of 8.32p/share and the share price slipped 1p to 946p.
