AIM movers: Tristel gets US FDA approval and DeepVerge still seeking cash

Disinfection products supplier Tristel (LON: TSTL) has received FDA clearance for Tristel ULT, which is used for endocavity ultrasound probes and skin surface transducers. This has been a long time coming, but it is highly significant for the business. There are 47 million scans in the US that could use Tristel ULT. Tristel is partnered with Parket in the US, and it receives 24% of net sales. The share price jumped 14.5% to 415p.  

Fire safety products developer LifeSafe Holdings (LON: LIFS) continues to outperform revenue expectations. In the first four months sales are treble the same time last year and 15% ahead of management estimates. The 5 in 1 consumer extinguisher product has helped to accelerate growth in the US. LifeSafe could be cash flow positive by the end of the year. The share price improved 13% to 39p, which is still lower than the original placing price of 75p back in July 2022.

- Advertisement -

Diaceutics (LON: DXRX) has won a new multi-year contract worth $10m. This is for providing subscription data services using the company’s DXRX database platform. The client is a US pharma company that will use the data to accelerate development of cancer treatments. The share moved ahead by 12.45 to 90.5p.

Kidney transplant diagnostics firm Verici Dx (LON: VRCI) results were in line with expectations and it had cash of $9.8m at the end of 2022. That cash should last until the middle of 2024. The company has launched its first product, Tutiva. A list price of $2,650 has been proposed for the test and this could be confirmed in November. The pricing will last for three years to the end of 2026. The effective price may be nearer to $1,500/test. The share price increased 9.52% to 11.5p.

The Itsarm (LON: ITS) share price has slumped by 25.3% to 0.31p, having been as low as 0.23p, after management decided that it will plan to place the company in compulsory liquidation. The board failed to gain the 75% approval for the cancellation of the AIM quotation at a general meeting.

Environmental technology developer DeepVerge (LON: DVRG) has stopped funding the development of Labskin and other businesses. Out-licensing of technologies that these businesses have developed is a possibility. Additional funds are required and that could come from a share issue or selling parts of the group. DeepVerge has won a water treatment contract in Ireland that will be worth £2.3m over four years. It is uncertain whether the 2022 accounts will be published by the end of June. The share price dived a further 19.1% to a new low of 0.425p.

- Advertisement -

A trading update by broadband provider Bigblu Broadband (LON: BBB) says interim revenues should be flat at around £14.9m. Like-for-like growth was 3.1%. Growth in Australia has been affected by cut price deals from Starlink. The company’s SkyMesh subsidiary has launched new tariffs that should help to improve the second half performance. finnCap still expects an improvement in full year pre-tax profit from £2.9m to £4.1m. The share price fell 10.4% to 43p.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.