AIM movers: Physiomics completes study for dosing tool and poor Christmans for Frontier Developments

Physiomics (LON: PYC) has completed a grant-funded PARTNER study. This was an observational trial run by the University of Portsmouth that collected data from prostate cancer patients treated with docetaxel. The data will help clinicians make decisions about dosage. Physiomics is exploring other uses for its personalised dosing tool. The share price jumped by 88.7% to 5.85p.

musicMagpie (LON: MMAG) subsidiary decluttr has secured a partnership with to supply it with pre-owned DVDs and games. The website has 120 million visitors/month. Refurbished technology will be added later. The share price is 14.7% higher at 32.7p.

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Renalytix (LON: RENX) is installing its KidneyIntelX diagnostic tool inside the Veterans Health Administration cloud infrastructure. That will take 18 months and should accelerate take up. There are 960,000 veterans with chronic kidney disease and the cost of managing the patients is $19bn/year. The share price recovered by 13.5% to 105p.

GCM Resources (LON: GCM) has secured a joint development agreement with PowerChina International and Dyani Corporation for a greenfield solar project, which would be an adjunct to the proposed Phulbari coal and power project in Bangladesh. The share price increased by 13.2% to 5.15p.  

Poolbeg Pharma (LON: POLB) has published a further update on the Lipopolysaccharide human challenge clinical trial for influenza treatment POLB 001. There was a material reduction in systemic and localised inflammatory response compared to the placebo. The full results will be published in the second quarter. The share price moved 10.3% higher at 8.05p.

Video games publisher Frontier Developments (LON: FDEV) had a poor end to 2022 and it has downgraded guidance for the year to May 2023. This is down to a poor performance by F1 Manager 2022. The share price dived 39.7% to 602.5p. Full year revenues guidance has been reduced from £135m to £100m-£114m. Interim revenues will be 16% higher at £57m and second half revenues will be lower than the corresponding period last year. Cash was £42.6m at the end of November 2022. Management is considering the future of the Frontier Foundry games label.

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Frontier Developments is not alone in its sector because Devolver Digital (LON: DEVO) sales were also disappointing at the end of 2022. Although revenues were within the guidance range, Zeus has cut its underlying 2022 EBITDA forecast by 28% to $21.7m. There will also be an impairment of capitalised development spending in the accounts. The 2023 forecast EBITDA has been cut by one-third to $22.8m. The share price fell 12.6% to 55.5p, which is a new low. Other video games companies also have falling share prices. Team17 (LON:TM17) slipped 8% to 430p and tinyBuild (LON: TBLD) is down 4.62% to 99.2p.

It is not just video games companies that had a weak end to the year. Animal feed additives supplier Anpario (LON: ANP) had a bad December. Shipping problems and China lockdowns hampered progress. Peel Hunt forecasts a fall in pre-tax profit from £5.8m to £3.9m in 2022. Net cash is £13.6m. Trading is likely to remain difficult, but profit should recover as raw material costs reduce. The share price is 11.6% lower at 420p.

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