Edison Investment Research

Windar Photonics (WPHO); LiDAR wind sensor receives €0.24m of funding

Windar Photonics announced that Eurostars has granted development funding worth €0.24m for the LAWIS project. The total grant amounts to €0.7m, which includes the Technical University of Denmark and an optical manufacturer in Lithuania.

Shield Therapeutics (STX); expects revenue to be £2.9m for FY 2019

Shield Therapeutics announced its business and unaudited trading update for the year ended 31 December 2019. The company’s cash position stood at £4.1m as of 31 December 2019. The FDA approved Accrufer with a broad label of treating iron deficiency in adults in the US. European Feraccru 2019 sales volumes increased 67% over 2018.

Smith & Nephew (SN.); acquires Tusker Medical for an undisclosed sum

Smith & Nephew has acquired California-based Tusker Medical, developer of Tula System, for an undisclosed sum. The acquisition supports the company’s strategy to invest in innovative technologies that address unmet clinical needs. The transaction was financed from existing cash and debt facilities.

Pan African Resources (PAF); on track to deliver full-year production guidance of 185,000oz.

The group’s gold sales grew 14.7% to 92,941oz (2018: 81,014oz).

Pan African Resources provided an operational update for the six months ended 31 December 2019. According to the company, the operations delivered a robust operational and commendable safety performance during the period. The Evander 8 Shaft Pillar project development is progressing according to plan, with steady-state production planned from March 2020 as well.

CVC Credit Partners (CCPG); announces December 2019 tender price

CVC Credit Partners European Opportunities announced the tender price in respect of the 76,796,296 sterling and 2,455,926 euro shares accepted for the December 2019 tender. The tender price will be £1.0434 and €0.9913 in respect of the sterling and euro shares. The NAV per sterling and euro share were £1.0534 and €1.0013, respectively, as of 31 December 2019.

HgCapital Trust (HGT); announces investment in Intelerad Medical

Hg, Manager of HgCapital Trust, has announced an investment in Intelerad Medical Systems for an undisclosed sum. The transaction is expected to close in Q1 2020, following satisfaction of customary regulatory approvals. As part of the transaction, HgCapital Trust will invest c. £28.9m in Intelerad, with other institutional clients of Hg investing alongside the company through the Hg Genesis 8 Fund.

Plant Health Care (PHC); receives first patent approval for PREtec peptide

Plant Health Care received the first US patent grant for its novel PREtec peptide technology. The company expects additional patents to be granted over the coming months for its PREtec peptide technology.

Avacta Group (AVCT); revenue up by 100% to £5.5m

The Group's order intake and sales pipeline into 2020 are the strongest to date.

Avacta Group announced its trading update for the 17-month period ended 31 December 2019. Revenue, which includes the initial milestone payment from LG Chem, has grown 100% to £5.5m and is ahead of market expectations.

Tissue Regenix Group (TRX); expects revenue to increase 12% to £13m for FY 2019

The company expects to deliver revenue and EBITDA in line with its revised expectations.

Tissue Regenix Group announced its trading update for the year ended 31 December 2019. The company had a cash position of £2.4m as of 31 December 2019. During the period, the company increased the throughput of five clean rooms in San Antonio through the commencement of a second shift during H2 2019. The average number of orthopaedic donors processed monthly at the San Antonio facility more than doubled from Q1 to Q4.

Town Centre Securities (TOWN); occupancy level increases to 96.7%

Town Centre Securities announced an update for its half-year ended 31 December 2019. The company witnessed consistent operating performance with like-for-like passing rent increasing 0.4% underlying versus a year ago.