AIM movers: Scancell trial expansion and Aptamer raises much-needed cash

Scancell Holdings (LON: SCLP) says that the Modi-1 trial has been expanded into renal and head and neck patients who receive checkpoint inhibitors as standard of care alone and in the neoadjuvant setting. There have been no safety concerns for the treatment. There are approvals to treat patients with four different tumour types. Further data will be available later this year. The share price is 23% higher at 11.375p.

Harland & Wolff (LON: HARL) has received a letter of intent for the upgrading and dry docking of a large vessel. The contract should be worth between £60m and £70m in 2024. Forecast 2024 revenues are £200m. The contract has not been formally signed, but £5m has been made available by the customer. The group order book is worth £900m. The share price rose 16.7% to 13.25p.

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Three Safestyle UK (LON: SFE) directors have bought shares in the company following last week’s trading statement. They have bought a total of 430,000 shares between them at prices between 10.625p and 10.805p each. The current share price is 11.45p, up 12.8%.

Tertiary Minerals (LON: TYM) has been granted permission from the Forest Department in Zambia to carry out soil sampling programmes within the Mukai and Mushima North licences. This will enable the company to select targets on the projects. The share price improved 8.11% to 0.1p.

Aptamer Group (LON: APTA) raising £3.6m at 1p/share to provide working capital to cover losses. The share price slumped 42.1% to 2.75p. The annual costs will be reduced from £6.4m to £3.5m. Cash breakeven is anticipated in the year to June 2025. Four directors have resigned, and four new directors appointed, including the return to the board of former chief executive Dr Arron Tolley. Dr David Bunka will switch to chief scientific officer on lower pay. A new chief executive will be appointed. The formal sale process has been ended.

Jadestone Energy (LON: JSE) has temporarily stopped production at the Montara Venture FPSO offshore Australia. This follows a gas alarm triggered within tank 4S, which will be emptied and cleaned. The tanks will be expected. Jadestone Energy has net cash of $7.1m. The share price is one-third lower at 23.25p.

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Flowtech Fluidpower (LON: FLO) had a mixed first half with the revenues of the higher margin Flowtech distribution business falling, while growth elsewhere led to an overall increase of 2.6% to £59m. The full year results will not be as good as expected because demand is weakening. Net debt is £15.6m and this will reduce further in the second half. The new chief executive will report on the measures being taken to improve the performance of Flowtech with the interim results announcement on 30 August. The share price dipped 18.8% to 93.8p.

88 Energy Ltd (LON: 88E) has launched a one-for-ten non-renounceable rights issue at 0.31p/share. The share price fell 13.3% to 0.325p. This will raise £6.29m to fund flow testing at the Hickory-1 well in Alaska, as well as lease rental payments and permitting activities. Some of the cash will be spent on development wells and workovers at project Longhorn, Texas. The updated Peregrine prospective resources assessment, which shows an unrisked mean total of 2,423mm barrels of oil.

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