Avacta shares steady after quarterly update

UK Investor Magazine
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Avacta shares steady after quarterly update

Avacta shares were steady on Monday after the life sciences company developing peptide drug conjugates that target anti-tumour payloads directly to tumours provided an update on its progress during the first quarter of 2025 and upcoming milestones.

The update offered little in the way of material ‘new news’ and shares reacted accordingly.

Pipeline Developments

FAP-Dox (AVA6000), a pre|CISION-enabled form of doxorubicin chemotherapy, has completed the Phase 1a dose escalation portion of its trial.

The drug shows improved tolerability compared to conventional doxorubicin, with no severe cardiac toxicity observed. Patient enrolment has begun in Phase 1b expansion cohorts for salivary gland cancer, triple negative breast cancer and high-grade soft tissue sarcoma, with updates expected later in 2025.

AVA6103, a pre|CISION-enabled PDC linking the pre|CISION peptide to topoisomerase I inhibitor exatecan, remains in preclinical development. The compound is undergoing investigational new drug-enabling studies, with Phase 1 trials projected to start in Q1 2026.

The company will present three posters at the American Association for Cancer Research Annual Meeting in Chicago (25-30 April 2025). These presentations will feature data from the pre|CISION platform and PDC pipeline, including clinical data on AVA6000 and preclinical pharmacology for AVA6103.

Novel data from Avacta’s strategic collaboration with Tempus AI will also be presented at the AACR meeting.

Corporate Updates

In January, Avacta appointed Brian Hahn as Chief Financial Officer. Hahn brings over 25 years of biopharma financial and operational experience, including 15 years as CFO at GlycoMimetics, Inc., where he led the company’s 2014 Nasdaq IPO.

“We made a strong start to 2025, continuing to make excellent progress against all of our strategic objectives,” said Christina Coughlin, M.D., Ph.D., Chief Executive Officer of Avacta.

“We are very encouraged by the Phase 1 data from FAP-Dox (AVA60000) so far, which continue to show an excellent tolerability profile and increasingly durable responses in salivary gland cancers. We are now enrolling in multiple dose expansion cohorts, including triple negative breast cancer with preliminary data targeted for later in 2025.

“Our pre|CISION®-enabled exatecan program (FAP-EXd, AVA6103) also continues to progress toward a Phase 1 trial initiation early next year, underscoring our deep commitment to pioneering a novel, differentiated class of medicines to revolutionize drug delivery mechanisms. We are enthusiastic about the promise of a potent topoisomerase I inhibitor delivered in this mechanism.”

Analysts see over 80% upside in this London-listed consumer goods stock after recent acquisition

UK Investor Magazine
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Analysts see over 80% upside in this London-listed consumer goods stock after recent acquisition

A recent acquisition by this consumer goods company underscores its investment case and growth trajectory as it continues to expand its presence in key markets.
Reiterating their 'buy' rating on the stock, analysts at a London-based investment bank see the company's 12-month price target a whopping 80% higher than the current price.
The company operates in Eastern Europe and taps into the emerging middle classes with goods and services which are tried and tested across the Western world.
Revenues have been increasing as its footprint grows. The recent acquisition will kick-start a new phase ...

Mobile Streams to acquire Latin American gaming platform through reverse takeover 

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Mobile Streams to acquire Latin American gaming platform through reverse takeover 

Mobile Streams, the AIM-quoted mobile content and data intelligence company, has announced its intention to pursue a reverse takeover to acquire the remaining 74.13% of Estadio Gana, valuing the recently launched company at £62.8 million.

The acquisition, which will be paid entirely in Mobile Streams shares at the 27 March 2025 closing price, will create an integrated sports, media and entertainment conglomerate focused on Latin America, particularly Mexico.

This move follows Mobile Streams’ recently announced deal with Capital Media Sports on 20 March, as the company aims to consolidate these businesses under its umbrella to create a comprehensive sports and entertainment platform.

The Mexican sports betting and gaming industry is proving particularly attractive, with independent data suggesting the market will reach US$11.47 billion by the end of 2025, with a projected growth of up to 70% by 2028.

Mexico’s role as co-host of the 2026 FIFA World Cup is expected to further accelerate this expansion.

As the deal constitutes a reverse takeover under AIM Rules, trading in Mobile Streams shares has been suspended from 7.30am pending publication of an Admission Document or an announcement that the transaction will not proceed.

The company will need to raise additional funds to complete the transaction and will require shareholder approval at an EGM, with further updates to follow in due course.

“We are excited and extremely pleased to announce our intended acquisition of Estadio Gana,” said Mark Epstein, CEO.

“This along with acquiring a controlling stake in Capital Media Sports and other possible businesses will enable us to form a sports media and entertainment conglomerate with the ambition to span Latin America. Our initial focus is on taking a leading position in the fast-growing Mexican market, but our ambitions are significant as we look to grow across the LATAM region. Simply put we want to create a world class sports, media and entertainment business.”

Interim results released on Monday showed the group’s revenue jumped to £415k in the half-year period to 31st December, up from £169k in 2023.

Aptitude Software moves to partner model

Andrew Hore
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Aptitude Software moves to partner model

Financial management software developer Aptitude Software (LON: APTD) is making progress with the move to a service-based revenue model. Despite this the share price has slumped in March, even before the 2024 results were announced.
The newest product is intelligence finance data management and accounting platform Fynapse and there is increasing interest in this software. Fynapse is designed to improve productivity and reduce costs. However, there have been delays in converting the interest into purchases. Two more deals have closed so far in 2025.
A move to a partner-led model means that they...

AIM weekly movers: Naked Wines outlines new strategy

Andrew Hore
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AIM weekly movers: Naked Wines outlines new strategy

Metals One (LON: MET1) launched a retail offer to raise up to £100,000 at 2p/share. This offer, which has been planned since January, closed at 8am on 28 March and raised the maximum amount. There was a ten-for-one share consolidation earlier in the week and the share price initially slumped to 7p, but it ended 139% higher at 21.5p.

Wines retailer Naked Wines (LON: WINE) has outlined plans to build up its cash, partly by reducing inventories, and return to annual revenue growth of 5%-10%. Cost cutting and focusing on the core members will help to improve EBITDA to more than £10m. If the strategy is successful, cash could reach £100m by 2030 and some of this could be returned to shareholders. In the short-term revenues will decline as the company focuses on the profitable base rather than chasing revenues. The share price rebounded 75.9% to 92p, which values the company at £68m.

European Metals Holdings (LON: EMH) shares rose 42.9% to 12.5p on the back of the EU declaring Cinovec a strategic project. There was initially a jump to 22p before profit taking. The Cinovec lithium project will have a simplified permitting process and receive support from financial institutions.

Oil and gas company Empyrean Energy (LON: EME) says the Wilson River-1 well has reached total depth. Petrophysical analysis is ongoing, and the results will be compared with existing wells. The share price dipped below 0.1p before recovering to 0.1425p, up 42.5% on the week.

FALLERS

Financial website operator ADVFN (LON: AFN) plans to cancel its AIM quotation. The board believes that the current share price and poor liquidity mean that it is difficult to make acquisitions. There are plans to organise a matched bargain facility with JP Jenkins. Interim revenues fell from £2.29m to £2.02m, although a reduction in admin expenses meant that the loss was lower at £453,000. There is £3.5m of cash. The share price slumped 57.7% to 5.5p.

Cannabis medicines developer Celadon Pharmaceuticals (LON: CEL) chief executive and 39.5% shareholder intended to propose the removal of the chairman and four non-executive directors at a general meeting. This is because they oppose his wish to leave AIM. The four non-executives have resigned and there will be a general meeting to propose the AIM cancellation. If this resolution passes, the chairman will resign, and JP Jenkins is likely to provide a matched bargain facility. The share price dived 42.9% to 8p.

GCM Resources (LON: GCM) has raised £1m at 3p/share, which will provide further working capital. Progress with the Phulbari coal and power project in Bangladesh remains slow and relies on the receipt of government approvals. At the end of 2024, there was cash of £900,000. The share price slid 30.3% to 2.72p.

Woodbois Ltd (LON: WBI) has raised £2.65m at 0.05p/share. Every two shares come with a warrant with a subscription share price of 0.125p. There are also two options for a total subscription of £650,000. The timber supplier needs the cash because it had to pause production, and it would have been insolvent. Money will be spent on maintenance and paying overdue creditors. The accounts will be brought up to date so an audit can be completed. Financial systems will be improved, and Jonna Cortez will become finance director and Mark Edworthy joint chief executive as part of the requirements of the providers of the investment. A repayment schedule has been agreed with Nykredit Bank. The share price declined 23.2% to 0.048p.

Aquis weekly movers: Incanthera wins patent dispute due to no infringement

Andrew Hore
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Aquis weekly movers: Incanthera wins patent dispute due to no infringement

Equipmake Holdings (LON: EQIP) shares recovered 60% to 1.4p/share on the back of an increase in trading volumes. The share price is back to near the level it was in January.   

Better news for Incanthera (LON: INC) this week. The dermatology technology developer has an agreement with the entity that claimed patent infringement relating to the Skin + Cell range. The agreement confirms no patent infringement. This had been delaying the launch of products, which are in stock. The focus will be generating cash from this stock. The deal with Limeway Pharma Design has been terminated and the two firms will cross licence patents on a royalty free basis. The development of the treatment for skin solar keratosis and prevention of skin melanoma can be done independently. The share price recovered 26.5% to 10.75p.

Coinsilium (LON: COIN) has launched its subsidiary Forza! in Gibraltar. The share price increased 9.09% to 3p.

Cryptocurrency app developer Tap Global Group (LON: TAP) increased interim revenues by 39% to £1.8m and it moved into a positive EBIDA of £324,000, while practically breaking even after tax. There was £890,000 in the bank at the end of 2024 and another £1m has been raised since then. Third quarter revenues are expected to be £920,000. The share price improved 6.67% to 1.6p.

Kondor AI (LON: KNDR) has finalised the terms of its bid for Ora Technology (LON: ORA) and it is 0.9848 of a share for each Ora Technology share. The shares have returned from suspension with Kondor AI up 2.5% to 10.25p and Ora shares are 5.53% higher at 10.5p. The enlarged group will provide a marketplace to enable AI developers to market their products.

Prize draws operator Good Life Plus (LON: GDLF) generated revenues of more than £3.7m in the year to January 2025.  Monthly recurring revenues are £420,000. Subscriber numbers exceed 40,000. March 2025 is set to be a record month. Increased costs mean that there will be an operating loss of £4.3m. The Instant Wins product was launched in February 2025. The share price rose 2.7% to 1.9p.

FALLERS

Shares in Wishbone Gold (LON: WSBN) have returned from suspension 28.6% down at 0.125p after the proposed reverse takeover of Evrensel Global Natural Resources was terminated. Anthony Moore has left the board, and David Lenigas has joined as a consultant. A placing has raised £700,000 at 0.1p/share. The company requires £500,000 to pay for costs and other liabilities. One of the operating subsidiaries is being restructured and £190,000 of the cash is required to pay the reduced liabilities. The focus will be on gold prospects in Australia, particularly those near to the Telfer project owned by Greatland Gold (LON: GGP).

Marula Mining (LON: MARU) has approved a five-year budget for the 80%-owned Kilifi manganese processing plant. This should generate pre-tax operating project cash flow of $63.5m and $43.4m post-tax. The period starts in April. Environmental authorisation has been obtained for the Blesberg lithium and tantalum mine in South Africa. A deposit of £510,000 and a social labour plan and black economic empowerment transaction are required to receive the ten-year mining right. An environmental assessment is ongoing at the Kinusi copper mine in Tanzania. The share price declined 22.2% to 4.375p.

Janus Henderson has taken a 5.04% stake in Invinity Energy Systems (LON: IES). The share price dipped 10.8% to 8.25p.

IntelliAM AI (LON: INT) has appointed Jane Robinson as vice president for business development. It has also made other management appointments. The share price weakened 7.41% to 62.5p.

Arbuthnot Banking (LON: ARBB) increased loans by 2% to £2.4bn in 2024. Trading was tougher last year, and pre-tax profit fell from £47.1m to £35.1m. Total dividend were 69p/share, including a 20p/share special dividend. NAV is 1636p/share. The share price fell 3.54% to 885p.

Heart health products developer ProBiotix Health (LON: PBX) has signed a new partnership agreement with TopHealth in South Korea. TopHealth has the right to sell consumer products using ProBiotix Health, including the import of CholBiome X3. The share price slipped 2.78% to 8.75p.

Smiths News on course

Andrew Hore
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Smiths News on course

Swindon-based newspaper and magazines distributor Smiths News (LON: SNWS) is trading in line with expectations this year.

There are currently 91% of expected newspaper and magazine revenues are secured via long-term contracts that last until at least 2029. There is a steady decline in this area, but the contracts provide good visibility.

This business can generate cash while management builds up other operations. There are plans to offer ambient early morning deliveries, plus potential for other ways to utilise the company’s warehouse and distribution capacity and expertise.

The share price slipped 1.49% to 52.8p. Interim results will be published on 7 May.

Full year revenues are expected to decline from £1.1bn to £1.03bn, while pre-tax profit could be maintained at around £33.4m. Net debt could reduce from £11m to £8m and the dividend should be held at 5.2p/share. There should be net cash by 2026.

The shares are trading on just over five times prospective earnings, and the forecast yield is 9.9%.

FTSE 100 gains in fragile rally as UK retail sales and GDP beat expectations

UK Investor Magazine
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FTSE 100 gains in fragile rally as UK retail sales and GDP beat expectations

The FTSE 100 rose on Friday, helped higher by more good news from the UK’s retail sector and confirmation that the UK managed to carve out gains in the final quarter of 2024.

The UK’s retail industry is having a good week. Next’s results yesterday showed that retailers can grow sales and increase profits despite the gloom around the UK economy.

The feel-good factor for retail shares was compounded by UK retail sales growing 1% in the month to February compared to estimates of a 0.3% decline.

Kingfisher, Sainsbury’s and Marks & Spencer were among the FTSE 100’s top risers at the time of writing on hopes the sector may have an easier ride than previously thought.

“Retail sales volumes came in better than expected in February. The trends from last month effectively reversed with food sales falling after a very strong January and non-food categories rebounding following last month’s weakness,” said Charlie Huggins of Wealth Club.

“These figures, along with yesterday’s better-than-expected results from retail bellwether Next, indicate that consumers are still feeling confident enough to spend despite the gloomy economic headlines. 

The positivity created by stronger-than-expected retail sales and GDP helped the FTSE 100 carve out a fragile 0.1% gain. The index has dipped into negative territory a number of times on Friday, and it wouldn’t be a surprise to see it turn negative again before the close.

“A jump in retail sales in February and confirmation the UK economy managed to grow in the final quarter of 2024 were treated as small wins by the market. While not earth-shattering data, investors are taking any nuggets of good news they can get in the current fragile environment,” said Russ Mould, investment director at AJ Bell. 

“Both the FTSE 100 and FTSE 250 indices advanced on a day where other major indices in Europe went into reverse. Sainsbury’s, Kingfisher and Marks & Spencer all enjoyed a bounce on the retail sales figures, while utilities were also in demand.”

Interest in United Utilities, National Grid, and SSE reflects an element of caution with considerable uncertainty on the horizon in the form of Donald Trump’s ‘liberation day’ next week, when a raft of tariffs are set to come into force.

Gold hitting an all-time high again on Friday underscored the flight to safety.

Cyclical sectors such as miners and banks were the heaviest hit on Friday with losses in names such as Anglo American, Barclays, and BP offsetting gains for retailers and utilities.

AIM movers: GCM Resources and Woodbois raise cash much needed cash

Andrew Hore
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AIM movers: GCM Resources and Woodbois raise cash much needed cash

Yesterday, Forum Energy Services increased its shareholding in Angus Energy (LON: ANGS) from 10.5% to 16.2%. The share price improved a further 18.5% to 0.32p.

Oil and gas producer Parkmead Group (LON: PMG) reported a dip in interim revenues from £3.4m to £2.1m. There was a net cash outflow of £100,000. There is cash equivalent to 6.3p/share. The sale of UK North Sea licences to Serica Energy (LON: SQZ) should complete in the second quarter. That leaves gas production in the Netherlands and an operating wind farm in Scotland. Parkmead is reviewing acquisitions. The share price increased 9.43% to 14.5p.

Europa Metals (LON: EUZ) The disposal of the company’s main asset was completed on 13 November 2024, so it has one year from that date to acquire a new business. That led to a gain of £5.58m and a reported pre-tax profit of £4.83m. The share price rose 9.09% to 1.2p.

Shares in wines retailer Naked Wines (LON: WINE) continue to rise following yesterday’s announcement of its new strategy to build up its cash, partly by reducing inventories, and return to annual revenue growth of 5%-10%. Cost cutting and focusing on the core members will help to improve EBITDA to more than £10m. If the strategy is successful, cash could reach £100m by 2030. The share price is 5.93% higher at 86.65p.

FALLERS

URU Metals (LON: URU) shares have been hit by profit taking following the large jump in the price earlier in the week following the 25-for-one share split on 24 March. URU Metals is raising £300,000 at 3p/share, which is a large discount to the previous market price. This will finance the interpretation and ground work for the Zebediela project. The share price slumped 44.1% to 4.75p, having been as high as 10.5p earlier in the week.

GCM Resources (LON: GCM) has raised £1m at 3p/share, which will provide further working capital. Progress with the Phulbari coal and power project in Bangladesh remains slow and relies on the receipt of government approvals. At the end of 2024, there was cash of £900,000. The share price declined 20.8% to 2.85p.

Blue Star Capital (LON: BLU) lost £4.49m in the year to September 2024 following the write down of its investment 27.9% stake in SatoshiPay from £4.65m to £581,000. The future of Blue Star Capital is linked to the fortunes of SatoshiPay. The share price dipped 10% to 6.75p.

Woodbois Ltd (LON: WBI) has raised £2.65m at 0.05p/share. Every two shares come with a warrant with a subscription share price of 0.125p. There are also two options for a total subscription of £650,000. The timber supplier needs the cash because it had to pause production, and it would have been insolvent. Money will be spent on maintenance and paying overdue creditors. The accounts will be brought up to date so an audit can be completed. Financial systems will be improved and Jonna Cortez will become finance director and Mark Edworthy joint chief executive. A repayment schedule has been agreed with Nykredit Bank. The share price is one-eighth lower at 0.0525p.

Shares in cash shell Rosebank Industries (LON: ROSE) continue their decline following the return from suspension after it ended discussions with Cerberus Capital about the potential acquisition of critical electrical distribution systems supplier Electrical Components International Inc (ECI). Rosebank Industries decided not to go ahead with the deal because of stockmarket volatility. The share price slipped 7.83% to 530p.

Exploring Dividend Heroes with the AIC’s Nick Britton

UK Investor Magazine
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Exploring Dividend Heroes with the AIC’s Nick Britton

The UK Investor Magazine was delighted to welcome Nick Britton, Research Director at the AIC, to delve into the AIC’s Dividend Heroes; those investment trusts that have increased their dividends every year for 20 years or more.

Get the full list of Dividend Heroes here.

We explore the underlying asset classes the AIC’s dividend heroes invest in and why these asset classes are supportive of consistently growing dividends.

Nick explains the structural advantages of investment trusts, which allow them to pay and even increase dividends even during periods when the underlying portfolio companies may pause or cut their dividends.

We touch on a selection of Dividend Heroes and the characteristics they share, and how they differ in terms of dividend yields and dividend growth.

In addition to the Dividend Heroes, the AIC track’s ‘next generation’ Dividend Heroes that have grown their dividend for more than 10 years but less than 20 years. We compare the underlying asset classes of the next generation Dividend Heroes and reflect on the evolution of investment trusts over the years.

Find out more about Next Generation Dividend Heroes.

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