Thalia Therapeutics (LON: THAT), formerly N4 Pharma, is acquiring Sanmirna Therapeutics Inc, which is developing miRisten for the treatment of Acute Myeloid Leukaemia, for an initial £3.675m in shares and convertible loan notes. Thalia Therapeutics has raised £2.75m at 0.6p/share, with two-fifths coming from directors. The cash will fund the completion of the miRisten phase 1 clinical trial. The data is expected in the first half of 2027. The share price gained 17.4% to 0.675p.
River Global (LON: RVRG) expects to complete the disposal of fund manager River Global Holdings by the end of June. Assets under management were £3.44bn at 19 June 2026, although that includes some funds closing down. The share price increased 9.09% to 6p.
Sound Energy (LON: SOU) chair Graham Lyon bought 603,093 shares at 2.0724p each and he exercised nil-cost options over 774,094 shares. The share price improved 7.5% to 2.15p.
TMT Investments (LON: TMT) has sold part of its stake in Blackblaze Inc for $4.65m and the value of the remaining stake has increased by $17m. The write-down of smaller holdings will reduce assets by £3m. The share price rose 4.91% to 278 cents/share.
FALLERS
Aerospace composite kits supplier Velocity Composites (LON: VEL) interims were in line with expectations, but the second half will be tougher. First half revenues were 19% lower at £8.4m due to delays in projects starting in the US. The company has closed its site in Fareham and that will generate cost savings. In the second half the costs of ramping up production in the US and lower margin UK work means that although there will be a recovery in revenues margins will be hit. The full year loss will increase from £1.1m to £1.6m. There is a potential second customer in the US. The share price slipped 13.3% to 13p.
Engineer Avingtrans (LON: AVG) full year profit is broadly in line with expectations, but next year cash will be hit by an unexpected requirement to repay Covid loans in the US. Strong demand in the nuclear sector is offset by delays in approvals for the medical imaging division. The full year pre-tax profit estimate is £12.3m, rising to £15.1m in the year to May 2027. Net debt could be £14.8m by the end of May 2027. The share price has been hit by recent profit taking following a sharp rise and it has fallen a further 4.13% to 580p – still one-fifth higher this year.
Alumni Capital has converted £500,000 of loan notes plus £50,000 finance charge into 43.8 million shares in Sunda Energy (LON: SNDA) issued at 1.255p each. Alumni Capital has also issued 25.3 million warrants exercisable at 1.6315p each. Last week, the Asia-focused oil and gas company received a notification of intention to terminate the production sharing contract for the Chuditch gas field form the Timor-Leste authorities. That lowered the share price and the conversion price, which is a discount to the market price. The share price dipped 4.37% to 1.4p.
Broker and mergers adviser Cavendish (LON:CAV) increased full year revenues by 2% to £56.9m and more than doubled pre-tax profit of £1.5m. The final dividend is unchanged at 0.5p/share. The growth came in the securities division, where revenues were two-thirds higher. Retainers and transaction revenues fell. Companies leaving AIM hit the retainer income and lower deal fees held back mergers and acquisitions revenues. The share price declined 4.32% to 8.85p.