Heart health diagnostics firm GENinCode (LON: GENI) has received California state licensing approval and CLIA certification for its laboratory in Irvine, California. The share price more than doubled, but profit-taking meant that it ended the week 88.4% higher at 14.6p. The certification will allow processing of Lipidin Code, which is set to be launched in the US first, and Cardioin Code tests. Lipid inCode diagnoses family hypercholesterolemia, which has a low rate of diagnosis with four-fifths of sufferers estimated to be undiagnosed. Cardio inCode focuses on genetic risk. There are plans to obtain FDA approval for Cardioin Code. There should be enough cash in the bank to last until the end of 2023.
hVIVO (LON: HVO) has secured a £5.2m contract with an Asia Pacific-based biotech company to test a vaccine in a Phase IIa study. The clinical trial will commence in the second half of 2023. This uses the company’s respiratory syncytial virus human challenge study. There are 95% of 2023 forecast revenues of £54m already contracted. The share price jumped 30% to 13p.
Hotel Chocolat (LON: HOTC) has signed a strategic partnership agreement with Tokyo-based Eat Creator Corporation, which will provide investment and expertise in Japanese food brand development. Hotel Chocolat will own 20% of the new company and receive brand royalty revenues. The new company will run the 21 Hotel Chocolat stores in Japan. The hare price recovered by 28% to 199p. The highest price since July.
Smart meter technology developer CyanConnode (LON: CYAN) gained an order for 983,525 Omnimesh modules and related hardware, plus a service and maintenance contract from Montecarlo. They will be installed in Madhya Pradesh, India. CyanConnode will commence deliveries in the first quarter. The order book in India is more than 3.6 million modules. The share price is 26.9% higher at 17.125p.
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Fallers
The Angle (LON: AGL) share price has slumped by 49.5% to 25.5p because revenues will be lower than expected. Market conditions have hampered the cancer diagnostics company in securing partnerships and building the commercial use of the Parsortix cancer cells capture technology. Revenues will be just above £1m in 2022 after contract delays, while 2023 revenues have been downgraded from £5m to £3.9m. Cash was around £32m at the end of 2022 and that should last until the middle of 2024.
In-video game advertising technology company Bidstack (LON: BIDS) says that it has invoiced Azerion Technology, but it is not being paid and has received a termination notice from the company. Bidstack says that there is no entitlement to end the agreement and it is claiming damages. Azerion Technology has been in dispute since October and this deal was underpinning forecasts. The share price slumped 29.7% to 1.95p.
Helium One Global (LON: HE1) will not be able to procure the Exalo drilling rig as it had expected because the current user has taken up a 12-month option. This will delay exploration drilling, which was due to start in the first quarter of 2023. At the end of last year, Helium One Global raised £9.9m at 5p a share to finance a single exploration well in the Tai prospect in the Rukwa Basin, Tanzania. This will help to prove up a working helium system. There are alternative rigs that could be secured, but this will mean drilling commencing later in the year. The share price declined by 26.8% to 5.2p.
United Oil & Gas (LON: UOG) says that the ASW-1X exploration well in Egypt did not discover any hydrocarbons. The drilling rig will be moved to the ASH-8 development well. This is also on the Abu Sennan licence where United Oil & Gas has a 22% non-operating interest. The share price slumped by 24.1% to 1.025p.
Pathfinder Minerals (LON: PFP) says the option agreement for the sale of IM Minerals to Acumen Advisory has been extended to 31 January. Pathfinder Minerals also raised £500,000 at 0.5p a share. The share price is 21.1% lower at 0.375p.
