Drug discovery company BiVictriX Therapeutics (LON: BVX) shares rose 9.68% to 17p after it identified a development lead for its BVX001 programme. This was developed using BiVictriX’s Bi-Cygni approach. The candidate and other backup candidates will be tested in a panel of in vivo models.
In the six months to October 2022, MS International (LON: MSI) moved back into profit and net cash increased from £15.5m to £23.9m. The defence and signage divisions are still loss making, but forgings and petrol station superstructures profit was increased significantly. The share price jumped 11.3% to 385p.
88 Energy Ltd (LON: 88E) has secured a rig to drill the Hickory-1 exploration well on the Alaskan North Slope. This will appraise six key reservoir targets. The share price rose by 5% to 0.525p.
The N Brown (LON: BWNG) share price continues to rise following yesterday afternoon’s announcement that Lady Homa Alliance acquired 725,000 shares at 23.51p each. There was a recovery in the shares at the end of Tuesday trading and the price has risen a further 7.69% to 28p today.
Recycled technology and second-hand media supplier musicMagpie (LON: MMAG) had a positive Black Friday trading period but the share price still fell 10.1% to 23.2p. Revenues were flat at £144.8m in the year to November 2022 after strong trading in the final month and lower marketing spend helped EBITDA reach £6.6m, down from £12.2m last year. Mobile phone rental is growing faster than expected. There will still be a pre-tax loss. Net cash is higher than expected at £8.2m.
Oi and gas company Molecular Energy (LON: MEN) says the drilling of a Paraguay exploration well has been delayed until the first quarter of 2023. The well is being drilled on the Delray complex of prospects that extends from the proven Olmeda sub-basin across the border in Argentina. CPC will pay 60% of the $10m-$15m cost of the well, plus a further $4m. The share price declined by 8.57% to 144p.
Scientific instruments manufacturer SDI Group (LON: SDI) increased interim revenues by 28% to £31.7m, while pre-tax profit improved by 14% to £6.5m. Following two acquisitions there was net debt of £15.4m at the end of October 2022. The full year pre-tax profit forecast has been trimmed by 3% to £11.9m due to higher interest rate costs on debt. The share price slipped 8.96% to 157.5p.
Power Metal Resources (LON: POW) says that it has discovered targeted nickel sulphides at the Molopo Farms Complex project. At target T1-3, visible nickel sulphides were identified at 327 metres and within the interval from 348-354 metres. Assay testing will determine the grade. The share prie slid 5.17% to 1.375p.