AIM movers: Fevertree Drinks goes flat and Ncondezi Energy feasibility study for solar power plant

Fevertree Drinks (LON: FEVR) was already one of the worst performing large AIM companies this year before the latest 27.6% sump to 867.75p. The share price has fallen by two-thirds during 2022 and, because of its size, this is one of the major reasons why AIM has underperformed so hugely this year. The mixer drinks supplier says first half sales were 14% higher at £160.9m and full year revenues are still expected to be £355m-£365m. However, margins are under pressure from higher freight and glass costs. Glass is 30% of cost and its price has doubled. This means EBITDA guidance has been slashed from £63m-£66m to £37.5m-£45m. Chief executive and co-founder Tim Warrilow has bought 115,000 shares at 870.887p each. In September 2020, he exercised options and made a profit of £3.46m selling the shares at 2019p each. In the previous five years he sold £34.3m worth of shares – the majority at 1925p a share.

Ncondezi Energy Ltd (LON: NCCL) has launched a feasibility study for its solar photovoltaic and battery energy storage system project in Tete. Mozambique. The study will assess a solar photovoltaic power plant of up to 300MW and will take four months. Pre-money NPV is estimated at between $60m and $65m. The share price more than doubled in early trading and it is still 77.4% higher at 1.375p.

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Positive analysis of blood and tissue samples from a study of TNF-alpha using Nuvec as a delivery mechanism has helped the N4 Pharma (LON: N4P) share price to add 14.9% to 2.7p. Nuvec is a delivery mechanism developed by N4 Pharma that drug companies can use to get the antigens they have developed into cells to express the required protein. The study shows that the treatment resulted in an increase in circulating plasma TNF-alpha levels. This helps to better understand how the mechanism works.

Novacyt (LON: NCYT) says that its exsig Covid-19 Direct Real-Time PCR test has been approved by the UK regulator. The test can be used with rival systems, as well as Novacyt systems. The share price is 8.53% higher at 117p.

Shares in Angle (LON: AGL) have fallen 12.6% to 81.75p following yesterday’s £20m fundraising at 80p a share. The cash will be used to take full advantage of the recent FDA approval for the use of its Parsortix diagnostic technology in harvesting breast cancer cells for analysis. Discussions are ongoing with medtech and pharma companies. The pharma services operation will be expanded, and laboratory developed tests launched. The liquid biopsy market could be worth up to $100bn in the US.

Allergy Therapeutics (LON: AGY) is down 6.85% to 17p following its full year trading statement. In the year to June 2022, revenues were £4.7m lower than forecast at £72.8m and cash was £4m lower than forecast at £20.5m. The phase III Grass MATAMPL trial and phase I VLP peanut allergy vaccine trial will start recruiting in the second half of 2022.  Debt will be required to finance the completion of these trials.

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