Shares in video streaming technology developer Aferian (LON: AFRN) rebounded 88.2% to 0.8p following last week’s slump after the announcement it has extended its $16.5m banking facilities to 20 March 2026. The formal sale process continues but it may not raise as much as the bank facility. The share price is still down by two-fifths over the past fortnight.
Trellus Health (LON: TRLS), which has developed a digital platform to manage chronic health conditions, has secured a six-month extension to its agreement with Johnson & Johnson Health Care Systems to provide Trellus Elevate for patients with moderate to severely active inflammatory bowel disease. Monthly cash burn has been reduced to $400,000. The 2025 revenues will be around $545,000. A $5m convertible facility has been secured, and the $737,500 drawdown from the facility will provide enough cash for the first quarter of 2026. The share price recovered 27.3% to 0.7p.
Shares in Fulcrum Metals (LON: FMET) continued their upward momentum with a 25.7% gain to 11p. Last week, the company reported additional positive data concerning gold and other product recoveries at the Teck Hughes tailings project. Gold recovery has been increased to 78% with up to 95% silver recoveries. There are also high recovery rates for tellurium and copper and 20% recoveries of gallium – that could be improved. There is a potential recoverable value of more than $550m of all these metals.
Retailer Mothercare (LON: MTC) has refinanced its £8m debt facility with GB Europe Management Services, which has been closed after a £8.68m payment, including fees. This has been replaced by a £8.46m facility with a consortium of investors, including Richard Griffiths, that is being provided to a special purpose vehicle. This lasts until the end of 2027 and has an annual interest charge of 25%. Pension payments have been deferred until March 2027. This means that £6m of payments have been deferred and there will be a long-term payment plan put in place. The share price increased 22.5% to 2.15p.
FALLERS
Skin treatments developer SkinBioTherapeutics (LON: SBTX) has slumped further following last week’s resignation of chief executive Stuart Ashman due to the misrepresentation of information. More details have been provided of the board investigation, and this will lead to the reversal of all accrued royalty income for 2024-25. That was £770,000, so it reduces 2024-25 revenues to £4.64m. This could be an isolated incident, but the investigation continues. Non-executive director Alyson Levett has been appointed to oversee the investigation into the allegations against the former chief executive. FRP Advisory will undertake an independent, forensic review. This year’s figures will be below expectations, when a performance near to breakeven had been estimated. The underlying potential for the business is thought to be unchanged. There is still £2.92m in the bank, down from £4.78m at the end of June 2025. Given the expected underperformance, it appears more cash will be required this year. OptiBiotix Health (LON: OPTI) says that it has no current intention to sell its 5.63% stake in SkinBioTherapeutics. The share price slumped a further 58% to 5.2p.
Investment company Jade Road Investments (LON: JADE) shareholdings have changed following the recent £6.1m equity subscription at $1/share. Baric Cakmakci is the largest shareholder with 23.2%, while NOIA Capital holds 18.6% and Fey AG 11.2%. The share price dived 43.8% to 45 cents/share.
Mathematical modelling and biostatistics services provider Physiomics (LON: PYC) increased interim total income from £354,000 to £528,000, including grants. The operating loss rose from £249,000 to £327,000. The share price declined 23.1% to 0.5p.
Pulsar Helium Inc (LON: PLSR) has raised £7.4m at 80p/share. The cash will fund the development of the Topaz helium project in Minnesota. All six appraisal wells have been successful and there are concentrations of helium-3, which is used in quantum computing. Well testing and reservoir evaluation will continue and there will be an additional seismic survey. A pre-feasibility study for integrated helium and CO₂ production will be completed. There will also be cash spent on the Falcon project in Michigan. The share price dipped 19.3% to 81.5p.