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AIM weekly movers: Positive DNA news from Angle

Cancer diagnostics firm Angle (LON: AGL) has made two positive announcements during the week. There are breakthrough results from DNA molecular analysis of cancer patient blood samples, and this covers many types of cancer. This proves the effectiveness of the Parsortix system combined with DNA analysis. Angle believes that using CTC-DNA testing of living cancer cells alongside ctDNA (DNA fragments released from dead cancer cells into the blood) will improve the way cancer is treated. It may enable doctors to track the clonal evolution of a patient’s cancer. Earlier in the week, a $250,000 pilot study to assess breast cancer patients was secured. The share price jumped 121% to 26p.

An $11m preclinical milestone payment to C4X Discovery (LON: C4XD) has been triggered by the preclinical progress of C4XD’s NRF2 Activator programme. AstraZeneca is using the programme to develop an oral therapy for treating inflammatory and respiratory diseases. At the end of July 2023, C4XD had £4.22m in the bank after a £6m cash outflow from operating activities. The share price increased 98.3% to 17.85p.

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Trading in Trellus Health (LON: TRLS) shares last Friday was at the second highest level in the past year. At one point the share price moved above 7p, but it ended up 69.2% up on the week at 5.5p. That is the highest price since October. Management is in talks with a large US national health plan which will make digital product Trellus Elevate, which helps people to manage inflammatory bowel disease, more widely available.

Shantonu Kumar Chundur has taken a 5.07% stake in i-nexus Global (LON: INX). The Coventry-based software company is loss making and it lost a major client in October. The share price recovered 51.1% to 3.4p, which is the highest level since early November.

FALLERS

Revolution Bars (LON: RBG) like-for-like sales were 9% ahead in December. However, most of that growth came from Revolucion de Cuba and Peach Pubs with Revolution barely growing even though the previous December’s train strikes meant that comparatives were weak. Eight bars have been closed. That leaves 58 bars and 22 pubs. Net debt is £18.3m. There will be another trading update on 24 January. The share price slumped 24.6% to 4.3p.

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Plexus Holdings (LON: POS) shares fell 21.4% to 16.5p, after falling below 14p at one point. Plexus agreed an IP licence agreement with SLB, which replaces a previous surface production wellhead licence agreement with a subsidiary of SLB. For $5.2m in cash, SLB gets a licence in perpetuity to use POS-GRIP technology in specific markets. The 2023-24 revenues forecast has been upgraded to £14m and pre-tax profit raised by 467% to £1.7m. However, this is a one-off, so Plexus could fall back into loss next year. Plexus was the best AIM performer in 2023 and it is still the best performer since the end of 2022.

Landore Resources Ltd (LON: LND) has raised £600,000 at 2.4p/share. This will help to fund the early development of the BAM gold project in Northwestern Ontario. Results from last year’s infill core sampling work will be reported during the first quarter of 2024. There will be a drilling programme this year. The postponement of the TSX Venture Exchange listing and the related fundraising has led to cost savings including the stepping down of chief executive Claude Lemasson and non-exec Larry Strauss. Glenn Featherby becomes interim chief executive. The share price slipped 19% to 2.55p.

Mkango Resources (LON: MKA) has a 79.4% interest in Maginito, which has formed a 50/50 joint venture with CoTec Holdings. HyProMag USA will roll out Hydrogen Processing of Magnet Scrap recycling technology. Maiden revenues are expected in 2025-26. The share price declined 15.2% to 9.75p.

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