Igraine (LON: KING) says Conduit Pharmaceuticals is reversing into Nasdaq-listed Murphy Cannon Acquisition Corp. This will provide nearly $150m of funding for Conduit. Via a 2% stake in Excalibur Medicines, Igraine has an economic interest in AZD1656, which is a potential diabetes treatment, one of the assets of Conduit. Excalibur Medicines has exclusive rights to the patents on AZD1656. The Igraine share price jumped 20.7% to 0.875p.
Gunsynd (LON: GUN) investee company Rincon Resources says a preliminary report highlights similarities between its Pokali prospect and a nearby niobium rare earth discovery. The Gunsynd share price rose 12.5% to 0.45p.
EPE Special Opportunities (LON: EO.P) announced net assets of 239.2p a share at the end of October 2022, down from 242.3p a share the month before. Even so, the share price rose 7.69% to 140p.
Guanajuato Silver Company Ltd (LON: GSVR) has discovered a new transverse vein at the El Cubo mine in Guanajuato, Mexico. This has been named the San Luis vein. The company has been reinterpreting previous data. This vein is likely to have a higher gold component than the primary structures. Vein widths are close to one metre or above. The share price improved 3.64% to 28.5p.
==========
Fallers
Goodbody Health Ltd (LON: GDBY) shares slumped 37.5% to 3.75p on the week. The full year outcome will be worse than expected. Third quarter figures showed a 6% decline in revenues to £9.29m due to reductions in Covid testing revenues, while margins declined. The loss nearly doubled to £1.67m. The cost base is being reduced.
Valereum (LON: VLRM) continued to decline following the previous week’s news that it gained regulatory approval for the acquisition of the Gibraltar Stock Exchange and the deal should be completed in the first quarter of 2023. There was £132,000 of the funding facility converted into shares at 10.8769p a share. The share price fell by a further 20.7% to 10.9p.
