Cancer diagnostics developer Angle (LON: AGL) technology is being showcased at an American Association for Cancer Research special conference. Angle is presenting a talk on PD-L1 status in circulating tumour cells isolated by its Parsortix diagnostics technology from blood samples of lung cancer patients. Data produced has high analytical sensitivity and specificity and suggests that this technology can be used for personalised treatment of lung cancer patients. Additionally, there is a report on progress of developing a system to classify HER2 protein expression for breast cancer. This is being developed with BioView. The share price recovered 15% to 11.5p.
GreenRoc Strategic Minerals (LON: GROC) says the Greenland authorities has confirmed that its application for an exploitation licence for the Amitsoq graphite project fulfils requirements. A recommendation will be mad to the government on whether to approve the project for public pre-consultation, which takes a minimum of 35 days. Management has been invited to visit General Motors as part of a group of potential suppliers. The share price improved 14.8% to 1.55p.
Rosslyn Data Technologies (LON: RDT) has been awarded a contract by a leading global consulting firm. A centre of excellence will be set up so that the consulting group can offer the data analytics technology as its preferred solution. The first customer has been secured and that is worth £500,000 over three years. The share price rose 9.04% to 5.125p.
Programmatic advertising services provider Nexxen International (LON: NEXN) plans ask shareholder permission at its AGM for a departure from AIM and change its Nasdaq listing from ADRs to ordinary shares. Third quarter figures show 12% growth in revenues, while EBITDA is 49% ahead at $31.6m. The 2024 EBITDA forecast has been raised by 7% to $107m, which is still well below the 2022 level. The share price is 7.36% ahead at 313.5p.
Steppe Cement (LON: STCM) plans to reduce the share capital in the balance sheet so that it can pay a 1.5p/share dividend, equivalent to $4.2m. The share price increased 7.14% to 0.075p.
FALLERS
Delays to defence orders have hit Solid State (LON: SOLI) and profit will be much lower than expected this year. Cavendish has downgraded 2024-25 earnings by 58% to 5.5p/share and next year’s by 48% to 7.9p/share because it is uncertain when the order will come through. The UK government has paused spending on a major defence order ahead of a strategic defence review next summer. The dividend could be maintained at 4.3p/share. The share price dived 32.9% to 142.5p.
Tekcapital (LON: TEK) has raised £1m at 7.5p/share. The technology company developer will invest £400,000 in Guident’s remote monitor and control centre and a further £200,000 for a planned flotation in 2025. The share price dipped 21.5% to 7.85p.
Altitude Group (LON: ALT) has published an interim trading statement saying that trading is in line with expectations. A new contract has been won by its University Gear Shops business, taking its annualised average revenues to $9.5m. Zeus has maintained its full year pre-tax profit forecast at £1.9m. Even so, the share price fell 16.2% to 28.5p.
Electrical accessories Volex (LON: VLX) has approached TT Electronics (LON: TTG) about a cash and shares bid. It has made two offers. The second offer was 62.9p/share and 0.233 of a Volex share, implies an offer of 139.6p/share at yester day’s closing share price. TT Electronics does not want to enter discussions and has rejected the approach. Volex is critical of recent acquisition by TT Electronics. Volex reported interim revenues 30% higher at $518.2m – organic growth was 10% – and underlying pre-tax profit 12% ahead at $37.5m. The interim dividend is 7% higher at 1.5p/share. The strongest organic growth was in the electric vehicles division, although all divisions grew. The share price slipped 14% to 295.5p.