The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Bushveld Minerals Ltd, up 20% at 4.35 pence, 12-month range 3.5p-10.6p. The South Africa-focused vanadium producer and energy storage solutions company enters into term sheet with Orion Mine Finance to refinance its existing convertible loan note. Will refinance around $45 million due in November into three components, including a $27 million three-year term loan, new CLN of $13.5 million maturing in 2028, and conversion of $4.5 million of existing CLN into shares at 6p each. ‘The proposed refinancing will resolve a large liability that became current in 2023 and will remove significant near-term pressure on the company’s balance sheet, in the process supporting sustainable growth and cash generation of our business,’ says Chief Executive Fortune Mojapelo.
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Sareum Holdings PLC, up 12% at 140.05p, 12-month range 55.1p-264p. The Cambridge-based biotechnology company developing kinase inhibitors for autoimmune disease and cancer wins approval to conduct phase 1 clinical studies on SDC-1801 in Australia. SDC-1801 is a TYK2/JAK1 inhibitor being investigated as a potential new therapeutic for autoimmune diseases, with a focus on psoriasis. Will work alongside specialist clinical units in Melbourne to begin a phase 1a trial as soon as possible.
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AIM - LOSERS
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Aptamer Group PLC, down 46% at 13.78p, 12-month range 13p-122.95p. The developer of novel Optimer binders for the life sciences industry updates on the financial year ending June 30. In the first 10 months, revenue was around £1.4 million, with its pipeline taking ‘longer than expected to convert’. The delays were especially apparent in licensing and royalty-based contracts. It now expects annual revenue to be ‘materially’ below the previous year’s level of £4.0 million. It reports a ‘healthy’ pipeline across fee-for-service and licensing, with some of the revenue to fall in the current year, but most - ‘if converted’ - in the next year. With cash running low at £700,000 at the end of April, the firm is mulling a range of funding options, which could be non-dilutive or dilutive in nature.
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