Futura Medical (LON: FUM) says that its Eroxon erectile dysfunction treatment is available for pre-order in the US. This is part of Haleon’s launch strategy and deliveries will be in October, the same month that it will be available in US stores. The launch was expected by February next year. A launch this year was not included in forecasts for Futura Medical, which was expected to generate £10m in revenues in 2024. Initial income from the launch will probably be small this year, but there will be an earlier launch milestone payment. That could mean a 2024 profit instead of a loss. The share price jumped 18.7% to 39.75p.
Timber company Woodbois (LON: WBI) says that it believes that CHCH Ventures FZ has reduced its stake below 3%. The shareholder has not informed the company, though. The stake was as large as 20% in the past. The latest buyer of the shares has sold them, and this will eliminate a share overhang. The share price recovered 14.6% to 0.47p.
Oncimmune (LON: ONC) has won a $700,000 order from a top ten global pharma company, where it was already a preferred supplier. It involves work on identifying biomarkers of disease in a rare auto-immune disorder using the ImmunoINSIGHTS auto anti-body profiling system. This will help Oncimmune to move into profit in the year to August 2025. The share price is 8.8% higher at 19.1p.
SRT Marine Systems (LON: SRT) has signed two follow-on system support contracts with clients in Asia worth a total of $4.6m. This should be recognised over the next 12 months. The share price improved 11.8% to 28.5p.
FALLERS
A new UK government consultation on environmental guidance will delay the Buchan project in the North Sea, where Jersey Oil & Gas (LON: JOG) owns 20%. The consultation is expected to conclude next spring. The Buchan project was expected to produce oil in late 2027, but it will be later than that. Jersey Oil & Gas had £13m at the end of June 2024 and has no further cash exposure to the Buchan project. The share price slumped 19.1% to 59.5p.
Ashtead Technology (LON: AT.) increased interim revenues by 61% to £80.5m and underlying pre-tax profit by 39% to £19.6m. Organic growth was 16%, which was better than the market figure. The subsea equipment rental company has increased net debt to £72m as it invests in its rental fleet and makes acquisitions. Expectations for the full year are unchanged with pre-tax profit of £39.5m forecast. The share price has risen strongly since joining AIM, but it declined 11.7% to 689p – that is still 12% higher than at the beginning of the year.
Tern (LON: TERN) investee company Wyld Networks is planning a rights issue. Tern has a 19.9% stake and is considering its position. The Tern share price fell 10.5% to 1.7p.
Data processing technology supplier Ethernity Networks (LON: ENET) says the $1.05m contract with a tier 1 aerospace company is still contingent on government approval, which has been delayed. Some of the milestones have been achieved. Once approved, there will be a payment of 40% of the contract value. The share price slipped 9.52% to 0.475p.