AIM movers: Hutchmed’s positive trial and Tremor International disappoints

Hutchmed (China) (LON: HCM) says there were positive results from a phase 3 clinical trial that combined its gastric cancer treatment fruquintinib combined with paclitaxel. There was a statistically significant improvement in progression-free survival. The share price jumped 11.6% to 183.2p on the news, but it is still two-thirds down on the start of the year.

Small company finance provider Time Finance (LON: TIME) rose 7.69% to 17.5p after non-executive director Ron Russell bought 344,821 shares at 17.4p each. He owns 12.2% of the company.  

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Final results from communications and events services provider Aeorema Communications (LON: AEO) show a return to profit on a 140% jump in revenues to £12.2m. Net cash inflow from operations was £922,000. The share price moved 5.26% higher at 80p, which values the company at £7.36m.

Shares in Alba Mineral Resources (LON: ALBA) rose 6.52% to 0.1225p after its 54%-owned investee company GreenRoc Mining (LON: GROC) said that the latest drilling results at the Amitsoq graphite project in Greenland confirm exceptional grades. GreenRoc Mining shares improved 6.02% to 4.4p.

Maritime location systems developer SRT Marine (LON: SRT) interim revenues soared on the back of two major systems contracts getting underway. There will be a further large increase in the second half and SRT Marine is on course to return to profit. A small contract won last week could lead to a much larger one in the future. There is a pipeline of potential contracts. The share price has been strong recently and rose a further 6.04% to 48.25p

Trading in Joules Group (LON: JOUL) shares was suspended at 9.22p this morning. Interpath Advisory will be appointed as administrator to the group. Attempts to secure bridging finance were unsuccessful.

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Third quarter revenues of programmatic advertising services provider Tremor International (LON: TRMR) were below expectations and finnCap has reduced its full year forecast. Forecast 2022 earnings have been cut from 65.3 cents a share to 53.9 cents a share. Expected cost savings have been increased from $50m to $65m a year. The share price slumped 26.3% to 279.2p.

Tanzania-focused Shanta Gold Ltd (LON: SHG) has decided not to continue merger discussions because the potential deals did not work for the company. Shanta believes it can achieve gold production of 100,000 ounces in 2023. The share price has fallen back 12.6% to 9.4p.

Mobile Streams (LON: MOS) has signed a 5-year contract to provide NFTs for LPGA golfer Gaby Lopez, who will receive an initial cash payment and $10,000 of shares. The target revenues over the length of the contract are $3.6m. The shares declined by 6.06% to 0.155p.

Arkle Resources (LON: ARK) raised £200,000 at 0.4p a share and the cash will fund the drilling programme for the Stonepark zinc joint venture in Limerick. The share price fell 4.55% to 0.525p.

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