Better news from automotive interior components supplier CT Automotive (LON: CTA) with its 2022 results. Last December, the company warned that the 2022 figures would be disappointing, and the loss was $14.5m. The new manufacturing plant in Mexico has opened. The order book and demand are strong, and the semiconductor shortages are easing. Pre-tax profit margin is currently 7.6%. The share price recovered 28.6% to 45p, although it has still halved so far this year.
Regulatory services provider Marlowe (LON: MRL) is believed to be considering the sale of its testing, inspection and certification division. It has been speculated that the division, which is Marlowe’s largest, could be worth £650m. That is similar to the market capitalisation of the company, which also has net debt of around £170m. The share price is 14.4% ahead at 677p.
Molecular diagnostics company genedrive (LON: GDR) is involved in a multi-partner grant award that will help to finance the validation and implementation of the Genedrive CYP2C19 ID kit pharmacogenetic test in emergency care. The overall programme is being led by the University of Manchester. The share price increased 8.7% to 18.75p.
Hutchmed (China) (LON: HCM) and its partner Takeda has published the results of the Phase III FRESCO-2 evaluating fruquintinib in patients with previously treated metastatic colorectal cancer in the Lancet. The treatment reduces the risk of death by one-third. The share price rose 3.99% to 215.25p.
Mirada (LON: MIRA) has fallen a further 48.3% to 1.55p ahead of the cancellation of the AIM quotation on Monday.
ValiRx (LON: VAL) has ended the evaluation of potential pancreatic and endometrial cancer drug. The profile was unsuitable for further development at this stage. The share price slumped 12.4% to 8.1p.
Red Rock Resources (LON: RRR) lost some of the gain after the announcement on Thursday that it had been granted an environmental certificate for a lithium project in Zimbabwe. The share price slipped 6% to 0.235p, but the share price is still 84.3% higher over the week.
Energy storage technology company Invinity Energy Systems (LON: IES) has reassured the market that its 2022 accounts will be published by the end of June and there is likely to be a reduction in provisions for contract losses. That means the overall loss will be lower. Revenues will be around £3.6m. There was cash of £15.4m at the end of May. The share price fell 5.68% to 41.5p.
Tower Resources (LON: TRP) says a study of its Namibian oil and gas exploration blocks shows evidence of a working petroleum system within the Dolphin Graben in PEL 96. An oil seep analysis is being undertaken, as well as a review of existing data on prospects. The share price dipped 5.38% to 0.044p.
