The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Deltic Energy PLC, up 19% at 2.77 pence, 12-month range 1.45p-3.70p. The oil and gas explorer signs rig drilling contract with Shell UK Ltd for the drilling of the Pensacola exploration well in the North Sea. Shell UK, part of Shell PLC, is the operator of licence P2252 and holds a 70% working interest, with Deltic holding the remaining 30%. Deltic says confirmation of the rig contract was a ‘significant step forward’ and a ‘key milestone’ in the preparatory work required to support the drilling of the prospect. The drilling is scheduled to commence in the second half of September, with seabed operations for placing of the rig due to commence towards the end of July.
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Avacta Group PLC, up 12% at 112.00p, 12-month range 38.00p-189.75p. The drug developer says its candidate for multiple forms of cancer, AVA6000 Pro-doxorubicin, is advancing to its third dose cohort after ‘a positive review of the safety data’ from the second cohort. The third cohort will receive an AVA6000 dosing of 160 milligrammes per square metre, up from 120 for the second cohort. AVA6000 is a form of the chemotherapy drug doxorubicin, which slows or stops the growth of cancer cells by blocking an enzyme called topo isomerase 2.
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AIM - LOSERS
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Windar Photonics PLC, down 56% at 6.30p, 12-month range 5.10p-30.80p. Shares in light detection systems developer will be suspended on Friday as it says it is not ‘in a position’ to publish its 2021 results by the AIM deadline of Thursday. Windar says it is trying to finalise the audit of the results and will release them as soon as possible. Turning to results, Windar expects 2021 revenue to fall 50% compared to 2020, for which it reported a revenue of €1.3 million in June last year. This is primarily due to project delays in China, the firm explains.
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SIMEC Atlantis Energy Ltd, down 45% at 1.12p, 12-month range 1.08p-9.00p. The energy company posts a greatly widened loss as it described the past 12 months as ‘very challenging’. Pretax loss of the Edinburgh-based company in 2021 widened to £74.1 million from £19.4 million in 2020. The firm highlights its ‘very difficult’ April decision to cancel the conversion of the coal-powered Power Station in Uskmouth in Newport, Wales, from coal to waste-derived fuel pellets.
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