Telecoms equipment manufacturer Filtronic (LON: FTC) has secured a low earth orbit satellite communications market contract worth £3.2m for a European Space Agency programme for 5G/6G sustainable connectivity. The contract is split between this financial year and the next one. Filtronic will develop mmWave products to enable connection between satellite to receiving ground stations. The share price is 9.68% ahead at 17p – the highest level for one year.
OptiBiotix Health (LON: OPTI) and Shield Therapeutics (LON: STX) share prices continue to rise on the back of positive news earlier in the week. OptiBiotix Health updated the market on its SweetBiotix healthy sweetener products. It says manufacturing of the sweetener products range SweetBiotix is being scaled up and it is being tested for consistency and shelf life. OptiBiotix Health says that well-known consumer brands like Kellogg’s, Nestle and Coca Cola are interested in SweetBiotix. These multinational brands would not allow themselves to be mentioned if they were not serious about the potential use of SweetBiotix. The share price rose a further 16.5% to 16.75p, which means it has doubled on the week. This is the highest the share price has been since December. Shield Therapeutics generated 50% more US prescriptions for iron deficiency treatment Accrufer in the second quarter. There was cash of $13.6m at the end of June 2023, while the remaining AOP loan is $5.5m. The share price is 19.6% higher at 9.45p.
The European Bank for Reconstruction and Development is going to invest €6m in the development of the Cinovec lithium project in the Czech Republic operated by acquiring 12.3 million shares in European Metals Holdings (LON: EMH) at 42.3p/share. The share price improved 9.41% to 46.5p. The cash will fund pre-development work up to completion of the definitive feasibility study. Shares in European Metals Holdings 6.5% shareholder Cadence Minerals (LON: KDNC) slipped 1.73% to 8.5p.
Renalytix (LON: RENX) has signed a Middle East distribution agreement with Vector Pharma for the kidneyintelX.dkd test. More than one-fifth of the population in many Middle East countries are diabetic with others pre-diabetic. Chronic kidney disease is a complication of type 2 diabetes. The share price increased 8.33% to 130p.
FALLERS
Oil and gas company Bowleven (LON: BLVN) says that it does not aware of any particular reason for the recent share price rise. It fell 14.3% to 1.5p, but it is still 42.9% higher on the week. The share price is more than one-fifth lower than the start of the year, though. Bowleven has already stated that it is likely to raise money this year, although the share issue is not yet at an advanced stage.
Security technology developer Thruvision (LON: THRU) full year figures were in line with expectations. Revenues were 49% higher at £12.4m and the loss was reduced to £800,000. Net cash was £2.8m at the end of March 2023, although it has subsequently fallen to £2.5m. There should be a further decline in loss to £500,000 this year, with net cash of £2.8m forecast for the end of March 2024. The share price dipped 6.56% to 28.5p.
Jonathan Hicking has reduced his stake in Aeorema Communications (LON: AEO) from 9.75% to 7.54%. The share price declined 3.38% to 71.5p.
Battery technology developer AMTE Power (LON: AMTE) shares continue to fall and are a further 2.86% lower at 4.25p. Discussions with finance providers and investors continue, but there needs to be additional debt or equity finance in the next few days. If no cash is raised then the company will have to go into administration and there is unlikely to be anything left for shareholders.
