Cannabis-based medicines developer Celadon Pharmaceuticals (LON: CEL) is continuing talks with a new finance provider that has indicated that it is in the process of making funds available. There is currently limited working capital. If the funds are not received in the next week, then the company will be placed in administration. If they are, Celadon intends to leave AIM. Even so, the share price doubled to 10p.
Shuka Minerals (LON: SKA) has received interim authorisation from the authorities in Zambia for the acquisition of 100% of Leopard Exploration and Mining, which owns the Kabwe zinc mine. The approval has to be ratified by the full board of commissioners. The share price increased 57.1% to 5.5p.
Tungsten West (LON: TUN) says that the Hemerdon tungsten and tin mine in Devon has been selected by the EC as a strategic project. The EU is trying to secure supplies of critical materials, and this provides access to EU funding. The share price improved 48.9% to 6.7p.
Predictive genetics company GENinCode (LON: GENI) has started to generate revenues in the US but the major growth came from the UK and the Europe. In 2024, revenues were one-quarter higher at £2.7m. Overheads were reduced. Following a de Novo submission for CARDIO inCode, the FDA has requested that deficiencies in relation to clinical validation be addressed, but management believes that US approval can be achieved. The timing is uncertain. Disruptions to staffing at the FDA under the new US government could delay matters. However, the current forecasts assume most of the growth in revenues to £4.3m in 2025 will continue to come from the UK and Europe. There is enough cash to take the company into the first quarter of 2026 and the company could be approaching breakeven by then. The share price rebounded 38.7% to 2.15p.
FALLERS
Sports and fitness data analyser 4Global (LON: 4GBL) plans to leave AIM after less than four years on the junior market. It was unable to raise additional funding to finance its growth in North America and it believes it will be easier to raise cash if it is private. Leaving AIM would save £500,000 each year. There has been limited trading in the shares and the cancellation, which is dependent on shareholder approval, is expected to be on 7 July. The share price slumped 47.7% to 11.5p. The December 2021 placing price was 91p.
Trellus Health (LON: TRLS) reported an increased loss of $7.8m on minimal revenues in 2024. Net cash was $4.3m at the end of 2024 and this fell to $2.5m at the end of April 2025. More finance is required by October. The pilot with Johnson & Johnson covering Trellus Elevate for the support of individuals with IBD is ramping up. This should help to boost revenues. The clinical trials sector is another focus for developing income. So far this year, $340,000 in revenues have been generated. The share price dipped 47.2% to 0.95p.
US-based Neptune Retail Solutions has informed digital loyalty and promotions platform operator Eagle Eye (LON: EYE) that a US grocer is terminating its contract at the beginning of August. This is a high margin contract and is the only one obtained via Neptune Retail Solutions. This will not hit the figures for the year to June 2025, but there will be sharp falls in forecast revenues and profit over the next two years. The 2025-26 revenues estimate has been reduced from £52.5m to £43.1m and Eagle Eye will make a loss. Net cash is still expected to be more than £10m at the end of June 2026. There are potential new contracts that could improve the outlook. Canaccord Genuity has trimmed its stake from 11.9% to 10.6%. The share price decreased 42% to 204p.
AI-based services provider to smaller businesses Pri0r1ty Intelligence Group (LON: PR1) has raised £1.05m at 2.5p/share. The reverse takeover at the end of 2024 was based on a price of 13.5p. The cash will be invested in growing the business. There is also a potential all-share deal to acquire sports data management business Halfspace, which the company already has a joint venture with. That would require the issue of 30.8 million shares. The share price fell 37.1% to 2.2p.