Redx Pharma (LON: REDX) says zelasudil (RXC007), an oral, selective Rho Associated Coiled-Coil Containing Protein Kinase 2 (ROCK2) inhibitor, has received Orphan Drug Designation from the FDA for the potential treatment of Idiopathic Pulmonary Fibrosis (IPF). The treatment is being used in a phase 2a clinical study for IPF and data is expected in the first quarter of next year. IPF is a disease of the lungs which progressively causes scarring and a reduction in lung function. The share price is 12.8% ahead at 26.5p. This is a recovery from the recent low.
Deltic Energy (LON: DELT) says that Shell has commenced site survey works on the Selene exploration well in the southern North Sea. Seismic data will be acquired and used to determine the exact location and placement of the drilling rig. Drilling is expected to start in mid-2024. Deltic Energy holds 50% of the licence but will be carried on 75% of costs up to $25m. The share price increased 6.14% to 30.25p.
Oracle Power (LON: ORCP) says Riversgold has completed maiden drilling programme on the Northern Zone gold project in Kalgoorlie. Oracle Power is farming-in to the licence. Drill cores are being taken to Perth for cutting and assay. The share price rose 5.71% to 0.0925p.
Shares in Itaconix (LON: ITX) improved 5.06% to 4.15p ahead of the 50-for-one share consolidation on Tuesday.
FALLERS
Fulcrum Utility Services (LON: FCRM) intends to leave AIM and the share price dived by two-thirds to 0.275p. This announcement followed the release of full year figures showing an increased loss. The utility infrastructure business reported a £25.7m loss on a 18% decrease in revenues to £50.6m. Even excluding write-downs and restructuring charges there was a loss.
Fire Angel Technology (LON: FA.) has awarded chief executive Neil Radley options over 7.26 million shares and finance director Zoe Fox options over 4.26 million shares. The share price has to be greater than 15p for all the share options to be taken up. If there is an acquisition, then the share price has to be above 8p for 100% to be taken up. The share price fell 5.03% to 3.4p.
Audioboom (LON: BOOM) has been ranked as the fifth largest US podcast publisher based on audience reach and average weekly downloads. There were recently 135 million downloads in one month. The share price declined 3.75% to 192.5p.
