Antibody discovery and supply company Fusion Antibodies (LON: FAB) is collaborating with the US-based National Cancer Institute in the use of its OptiMAL technology in the discovery of antibodies for specific cancer targets. Fusion Antibodies will not have to commit significant resources to the collaboration. The share price jumped 29% to 4.45p.
Interims from Supreme (LON: SUP) reported record interim revenues of £105.1m and the growth came from all divisions. Branded distribution and vaping were the strongest divisions. Interim underlying pre-tax profit doubled to £12.6m. Investment in stocks meant that net cash became net debt of £4.8m. Full year pre-tax profit of £28.4m is forecast by Zeus. The share price increased 13.2% to 124.5p.
A positive trading update from mobile work as a service business Crimson Tide (LON: TIDE) has pushed up the share price by 12.3% to 160p. A slightly lower loss is forecast for 2023 and breakeven is still expected in 2024. Cost savings have been reinvested in marketing.
Scancell Holdings (LON: SCLP) has added two responders to the SCOPE study for the treatment of melanoma, taking the total to 11 out of 13 patients. The second stage has started and a further 27 patients will be recruited. The aim is to get at least 18 further responses. That would enable a randomised phase 2/3 study to take place, possibly with a partner. The share price rose 8.8% to 13.6p.
Strong trading in October and November has led to upgrades for transport technology company Journeo (LON: JNEO). This year’s pre-tax profit forecast has been raised from £3.7m to £3.9m, which is nearly quadruple the 2022 figure, helped by acquisitions. Even earnings have doubled. The share price is 6.48% higher at 230p.
FALLERS
Healthcare services provider Totally (LON: TLY) is restructuring its business after a tough first half. Revenues were one-fifth lower at £55.8m due to lower urgent care business levels. Annualised cost savings of £3m have been made and there could be more to come. The share price has fallen by one-quarter to 6.6p.
88 Energy (LON: 88E) is raising A$9.9m (£5.3m) at A$0.0045/share (0.23p). The share price slipped 19.6% to 0.225p. The oil and gas company had A$10.2m in cash at the end of September 2023. The cash will fund flow testing of the Hickory-1 well at Project Phoenix and exploration at the Owambo Basin in Namibia.
Safety and regulatory compliance services provider Marlowe (LON: MRL) achieved organic growth of 6% in the first half, but this did not show through in underlying earnings, which fell 15% to 18.9p/share. A strategic review is underway and non-core businesses could be sold. Full year earnings have been downgraded by 7% to 44.3p/share. The share price is 16.5% lower at 421p.
Crossword Cybersecurity (LON: CCS) says revenues have not grown as fast as expected. Conversion of interest into contracts is slowing down. This means that full year revenues will be between £4.1m and £4.3m and not £6m as previously guided. The loss will be similar to expectations. Next year’s revenues could be around £7m and not £8m. Cash breakeven could happen before the end of 2024. The share price declined 10.5%.
