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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Bivictrix Therapeutics PLC, up 21% at 18.7 pence, 12-month range 13.55p-35p. The biotechnology company says it identified a development lead for its BVX001 programme, which aims to formulate the next-generation of antibody drug conjugates. The lead was selected based on promising in vitro potency and cancer cell selectivity data, alongside encouraging data reported from a panel of ex-vivo safety assays using healthy human cells. Bivictrix says the lead will now be taken into a panel of in-vivo models. These will include models of acute myeloid leukaemia to investigate the optimum dose of the molecule, as well as safety models to provide indicative safety data. The results will support manufacturing preparations and guide future clinical trials, Bivictrix says.
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MS International PLC, up 13% at 390p, 12-month range 206p-390p. The defence equipment manufacturer says profit multiplied in its first half after Russia’s invasion of Ukraine led to a ‘more attentive audience’ from buyers of military equipment. It posts a pretax profit of £3.5 million for the first half ended October 31, multiplying from £770,000 a year ago, as revenue rose by 27% to £42.0 million from £33.2 million. The company declares an interim dividend of 2.00 pence per share, up 14% from 1.75p a year ago, as earnings per share surge to 17.40p from 3.40p. ‘The group has continued to perform strongly, growing our international businesses profitably in the face of these extremely challenging times,’ Executive Director Michael Bell says.
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AIM - LOSERS
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Molecular Energies PLC, down 11% at 139.59p, 12-month range 120p-570p. The energy firm reports a delay in the procurement of a drilling rig by its designated drilling contractor in Paraguay, setting back the spud date for the exploration well. The delay is ‘due to the numerous consents and approvals needed by the current owner of the rig whose parent is emerging from bankruptcy’, Molecular explains. The firm now anticipates the start of drilling will occur in the latter part of the first quarter of 2023.
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