SCISYS Group (SSY); posts pre-close trading update
The directors expect FY 2018 results to comfortably meet current market guidance
SCISYS Group announced its trading update for the year ended 31 December 2018, before entering into its close period. The group’s order book remains strong, strengthened by a series of contract wins with an aggregate value of c. £23m announced since mid-December.
Read more...Destiny Pharma (DEST); secures £1.6m funding under new UK-China AMR programme
This two-year project will be focused on XF drugs for use against dermal and ocular infections
Destiny Pharma announced funding worth £1.6m under the UK-China AMR programme set up by Innovate UK and the Department of Health and Social Care with the Chinese Ministry of Science and Technology.
Read more...Pan African Resources (PAF): gold production increases by 54.2% for the six months ended 31 December
Safety statistics for the group have materially improved during the current reporting period
Pan African’s six months gold production of was at 81,000oz, against 52,500oz last year. The production from the Barberton complex grew 24.5% to 50,550oz from 40,600oz in 2017. The new Elikhulu tailings retreatment plant has already reached nameplate throughput capacity with incremental low-cost ounces.
Read more...Restaurant Group (RTN); continues to see underlying growth
Management confirms PBT market expectations for the full year.
Restaurant Group, still reporting its results before the inclusion of Wagamama, continues to see underlying growth. Like-for-like sales for the whole 52 weeks to the end of December were down 2.0%, slightly better than the decline of 2.2% after 42 weeks to the end of October. However, the company says it has been in like-for-like sales growth since the World Cup.
Read more...ReNeuron Group(RENE); first patient treated in its US Phase IIb study, PISCES III
PISCES II is a study of ReNeuron’s CTX cell therapy candidate for stroke disability
ReNeuron Group announced that it has treated its first patient in the US Phase IIb clinical study, PISCES III. PISCES III, the study of ReNeuron’s CTX cell therapy candidate for stroke disability, is a randomised, placebo-controlled clinical trial in the US involving 110 patients across 40 clinical trial sites. Patients exhibiting stable post-stroke disability are entered into the study six to 12 months after their stroke.
Read more...Primary Health Properties (PHP); agrees an all-share merger with the MedicX Fund
The merger values each MedicX share at 88.7p
Primary Health Properties has made an agreement to acquire MedicX’s share capital. Under the terms of the merger, shareholders of MedicX will be entitled to receive 0.77 new Primary Health shares for each MedicX share held. Primary Health and MedicX shareholders will hold 69.4% and 30.6% of the enlarged company respectively.
Read more...Circassia Pharmaceuticals (CIR); acquires commercial rights from AIT Therapeutics
Circassia expects to launch AirNOvent in the first half of 2020 post approval
Circassia Pharmaceuticals announced that it has entered into a definitive agreement to acquire the exclusive commercialisation rights from AIT Therapeutics for its ventilator compatible nitric oxide product, AirNOvent, in the US and China. As per the agreement, Circassia will pay an initial consideration of $7.35m.
Read more...Shield Therapeutics (STX); revenue for the year expected at c. £11.9m
Expected revenue for the year ended 31 December 2018 was dominated by the £11m upfront licence payment received from Norgine
The financial terms for licensing to Norgine BV include an additional €54.5m in development and sales milestones, with sales royalties ranging from 25% to 40%.
Read more...Bluebird Merchant Ventures (BMV); announces an ambitious timetable for its Kochang and Gubong Mines
Gold production expected by the end of the year – how on earth can that timetable be achieved!
Bluebird Merchant Ventures (BMV.L) announced this morning that it is aiming to be in production at its Kochang and Gubong Mines, located in South Korea, before the end of the year. Eleven months to construct a processing plant and develop a mine is a very tight time frame. However, Bluebird has yet to receive the permits required to operate the mines, expected Q119, it is also yet to secure the funding required to develop the mine, order the mining equipment and plant components and even finalise the design or location of the processing plant, let alone dewater the underground mines, and refurbish access in to the workings.
Read more...Marston’s (MARS); posts weak trading growth for the Christmas period
Marston’s is announcing cash conservation measures to reduce net debt by £0.2bn
Marston’s trading was in weak growth for the Christmas period. Like-for-like sales for the 16 weeks to 16 January were up 1.4%. But discounting like-for-like growth of 5.7% in the Christmas fortnight, the other 14 weeks grew by less than 1%.
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