Cancer treatments developer ValiRx (LON: VAL) has extended the exclusivity period with TheoremRx Inc on the sub-licence of VAL201 until the end of May 2025. This is the final extension, and it is due to TheoremRx Inc being involved in a transaction with a Nasdaq listed company. The share price recovered 24% to 0.775p.
Gift wrap supplier IG Design (LON: IGR) has had a post-Christmas bounce. It rebounded 10.9% to 152.5p.
Pulsar Helium Inc (LON: PLSR) is raising up to $7.5m at 38 cents(30p)/share. A loan will be provided by University Bancorp Inc will provide a $4m line of credit to ABCrescent Cooperatief so that it can exercise 15.5 million warrants. The cash will finance exploration at the Topaz project in Minnesota and enable a decision to be made on a combined helium and CO2 production facility. Further drilling on the Jetstream #1 appraisal well will restart this week. The share price improved 3.85% to 27p.
Zephyr Energy (LON: ZPHR) has received $7.5m of drilling funds that will cover the expected costs of drilling and production testing the extended lateral on the State 36-2 LNW-CC-R well in the Paradox Basin, Utah. This activity should start in the middle of January. The share price rose 3.33% to 3.1p.
FALLERS
Trading in ADM Energy (LON: ADME) shares was restored following the publication of 2023 accounts and interims for 2024. In 2023, there was a £16.8m impairment charge. There was £66,000 in cash at the end of June 2024 and two investments have generated cash, but ADM Energy is still constrained by a lack of cash. The share price slumped 41.2% to 0.25p.
Spreadex Ltd has cut its shareholding, via voting rights through financial instruments, in Tiger Royalties and Investments (LON: TIR) from 4.94% to 3.53%. The company is in the process of acquiring a technology incubator business. The share price slipped 12.5% to 0.175p.
Cancer treatments developer Sareum (LON: SAR) says CRT Pioneer Fund has given notice to terminate its licence for SRA737, which is an oral Checkpoint kinase 1 inhibitor targeting cancer cell replication and DNA damage repair. CRT Pioneer Fund has been involved in co-development of SRA737 since 2013. The share price is 9.26% lower at 24.5p.
Hummingbird Resources (LON: HUM) has signed a new loan agreement for $35.6m to provide cash flow for the core Mali subsidiary. The loan becomes repayable from any financing following the completion of the recommended 2.68p/share cash bid by Nioko Resources Corporation. The share price dipped 4.87% to 2.15p.
German investor Investmentaktiengesellschaft für langfristige Investoren TGV has sold its 12% stake in online wine retailer Naked Wines (LON: WINE). The share price fell 1.88% to 46.85p, having fallen to 46p during the morning.