Destiny Pharma (LON: DEST) shares continue to rise following the new data concerning its XF-73 treatment showing it significantly reduces post-surgical MRSA infections. This was a study of burn cases and XF-73 can reduce the risk of MRSA getting into the bloodstream and cause sepsis. Yesterday, Sir Nigel Rudd bought 1.24 million shares at 2.5p/share. The share price recovered 41.2% to 6p, which is still below the 8.5p prior to the announcement of the planned departure from AIM on 13 August.
Mosman Oil & Gas (LON: MSMN) says there has been an extension to the EP145 permit until 21 February 2027. Mosman Oil & Gas owns 25% of EP145, which is a potential helium project in the Northern Territories in Australia, and the operator Greenvale Energy planning acquisition of seismic data followed by drilling next year. The share price rose 25.9% to 0.068p.
Market research services provider YouGov (LON: YOU) has upgraded guidance. Operating profit is expected to be £43m-£46m, which is slightly higher than before. Data products revenues were flat, but other parts of the business grew. There are annual cost savings of £20m planned. YouGov is acquiring New Zealand-based AI audience insights technology developer Yabble. The addition of YouGov’s data will make the technology even more effective. The initial cash payment is £4.5m with 546,961 shares acquired by the sellers with part of the proceeds. The share price rebounded 17.3% to 515p, but it has still more than halved this year.
Helium One Global (LON: HE1) has deepened the ITW-1 well a further 168 metres. There were near-continuous helium and hydrogen shows while drilling. Extended well test operations should soon commence across two intervals: fractured Basement and faulted Karoo Group. The share price increased 12.1% to 1.39p.
FALLERS
Insurance premium finance and professional funding provider Orchard Funding (LON: ORCH) says its largest customer has gone into administration. Orchard Funding has lent £16.7m to Insure That clients out of a total lending book of £66.8m at the end of June 2024. Management is assessing the recoverability of the Insure That loans. This comes six weeks after a positive trading statement. The share price slumped 32.8% to 21.5p.
Extended reality technology developer Engage XR (LON: EXR) says interim revenues reached a record of €2.2m with the main growth coming from licence income. Net cash is €5.5m at the end of June 2024. Management still believes that Engage XR can move into profitability during 2025 without raising additional cash. Full year revenues of €5.3m and net cash of €3.7m are forecast. Despite the optimism of the company, the share price dipped 17.4% to 0.95p.
Floorcoverings manufacturer Airea (LON: AIEA) was hit be a slowdown in second quarter sales. The decline of 5.6% was slightly better than for the market as a whole. Interim sales are lower with international revenues 22% lower. July has been stronger and new product launches are planned. There has been an increase in inventory because of the slow sales. The interims will be announced on 26 September. The full year expectations have been reduced. The share price declined 15.5% to 24.5p.
Pharmacogenetic testing company Genedrive (LON: GDR) chief executive James Cheek has left the company. Chief scientific officer Dr Gino Miele takes over the chief executive role. The share price slipped 12.9% to 2.7p.