Lung cancer diagnostics developer LungLife AI (LON: LLAI) says that the finalised Local Coverage Determination issued by the Medicare Administrative Contractor Noridian Healthcare Solutions, which has jurisdiction over the company’s California laboratory, enables it to apply for coverage to receive payment. A price of $2,030 has been fixed for each LungLB test. The next step is obtaining coverage from public and private payers. The share price improved 14.3% to 14p.
Commercial property services provider Fletcher King (LON: FLK) increased full year revenues from £3.08m to £3.83m, while pre-tax profit more than trebled to £504,000. The final dividend is trebled to 2.25p/share. There was £3.8m in cash at the end of April 2024. Working on rating appeals helped income to improve. Management says that there are signs of recovery in the commercial property market, particularly at the higher quality end. The share price rose 5.26% to 50p.
Yesterday evening, Zambeef Products (LON: ZAM) says that the Zambian authorities have not bought Chiawa Farm despite media speculation, although it is considering a purchase. If there is a successful offer the market will be informed. The share price moved ahead 4.65% to 5.625p.
SIMEC Atlantis Energy (LON: SAE) has been awarded the Green Economy Mark by the London Stock Exchange. The share price increased 4.65% to 5.625p.
Energy services provider Inspired (LON: INSE) is on course to meet full year forecasts, but it will need to win significant optimisation contracts. The timing of the contracts is uncertain and there should be more information about the progress when the interims are published. There will be no more deferred consideration payable by the end of the year. The ESG and software businesses continue to grow. The share price edged up 1.43% to 71p.
FALLERS
Biome Technologies (LON: BIOM) is raising £950,000 at 5p/share and offering retail shareholders the opportunity to invest up to £80,000 more. The same share price will be used for the conversion of £1.28m of convertible loan notes. The cash is required for short-term working capital for the RF division, plus the financing of additional stock for Bioplastics. Allenby expects revenues to improve from £6.98m to £7.82m in 2024, mainly due to Bioplastics, and a reduced loss of £862,000, from £1.2m. The share price slumped 41.9% to 12.5p.
Diagnostic testing company Abingdon Health (LON: ABDX) completed the acquisition of CS Lifesciences yesterday for up to £3.2m. The company plans to launch a retail offer to shareholders at 9.75p/share. A placing has already raised £5.225m. The share price fell 4.41% to 9.75p.
Berenberg has cut its share price target for ITM Power (LON: ITM) from 60p to 59p. The share price slipped 3.03% to 52.8p.