A contract win helped the Inspiration Healthcare (LON: IHC) share price rebound 44.4% to 19.5p. A $6m contract has been won by the Neonatal division and the core business is doing well. However, there are further delays to the Middle East contract – the first shipment is awaiting custom clearance – and revenues in the year to January 2025 were £38.3m, rather than the £40.9m forecast. Underlying revenues were 0.8% better than expected, though. The loss was more than £2m. Most of the £1.25m of annual cost savings will come through this year when there should be a return to profit. Non-executive director Richard Jones acquired 100,000 shares at 19.5p each.
Merit Group (LON: MRIT) shares recovered 28.6% to 27p ahead of the general meeting on 25 February to gain shareholder approval to leave AIM. The share price has still fallen by 15.6% this year.
Guernsey-based Sankofa Strategic Equity Fund has taken a 6.57% stake in Oxford BioDynamics (LON: OBD). The share price moved up 27.7% to 0.6p.
Media marketing platform developer SEEEN (LON: SEEN) says 2024 revenues grew from $2.1m to $3.2m following a strong second half. This suggests that the business is gaining momentum and the current annual run-rate for revenues is $5m, which is in line with forecasts. A large publisher has contracted SEEEN to manage its video library on YouTube. SEEN has IP that can maximise the income from these videos. Revenues were below forecasts but the positive outlook meant that the share price rose 23.1% to 4p.
FALLERS
TheraCryf (LON: TCF) is raising £4.25m at 0.25p/share. The share price is dived 72.5% to 0.275p. The Tuesday closing share price was 1p. The cash will finance the pre-clinical development of Orexin-1, which came with the acquisition of Chronos Therapeutics. Orexin-1 is a potential drug for a range of neuropsychiatric disorders, including addiction and anxiety. The preclinical data generated will help to attract potential partners. Former Avacta boss Dr Alastair Smith has been appointed as TheraCryf chair. He will take his fee for at least 12 months in the form of shares.
Biome Technologies (LON: BIOM) is planning to leave AIM and is holding a general meeting on 13 March to gain shareholder agreement. Access to additional funding is difficult with a depressed share price due to trading disappointments. Management believes it will be easier to raise cash as a private company without a public share price. It will also be easier to enter into transactions without having to make announcements. There will also be cost savings. JP Jenkins will provide a matched bargains facility. The share price slumped by three-fifths to 1.5p.
Film and media localisation services provider Zoo Digital (LON: ZOO) expects full year revenues to be at least $50.5m and a return to positive EBITDA of at least $1m. These are below expectations, though. Trading recovered following the writers’ strike in Hollywood, but there have been delays and cancellations. Zoo Digital is a preferred fulfilment vendor for Amazon Prime Video and there is an increase in potential work, predominantly for existing content. Original content production remains subdued and may not recover until nearer the end of the year. This year dubbing revenues will be lower than last year. Fixed costs have been cut by one-fifth over the past year and margins are improving. The share price declined 41.1% to 16.5p, which is the lowest it has been for more than seven years.
Karelian Diamond Resources (LON: KDR) raised £323,000 at 0.75p/share. This will fund metals exploration in Northern Ireland and diamond exploration in Finland, where there are plans to advance the proposed development of the Lahtojoki deposit. The share price slipped 40.8% to 0.725p.