The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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ImmuPharma PLC, up 17% at 2.13 pence, 12-month range 1.36p-9.5p. The drug discovery and development company submits a phase 2/3 clinical trial protocol to the US Food & Drug Administration testing the Lupuzor treatment for lupus patients. The new design takes into account the FDA’s key guidance points from a previous ’Type C’ meeting alongside insights from its pharmacokinetic study completed last year. A Type C meeting with the FDA has been requested, and the company will update the market with the date of the meeting once confirmed by FDA, ImmuPharma says.
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Pressure Technologies PLC, up 9.5% at 46p, 12-month range 23p-103p. The specialist engineering group said its subsidiary AI-Met, a part of the Precision Machined Components division, won a £3 million order from a ‘established international [original equipment manufacturer] customer’. The company says the order is ‘unprecedented’ and will provide ‘substantial order book coverage and visibility’ for the first half of financial 2023. CEO Chris Walters says he is ‘delighted’ with the order, and it underpins the company’s expectations for the full year, including returning to profit at the end of this quarter. Less positively, the firm says it will miss the deadline for publishing its annual results, and will suspend its shares from trading next Monday. Expects suspension to be lifted upon publishing of the results, which will be ‘no later than the end of April’.
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AIM - LOSERS
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Scotgold Resources Ltd, down 66% at 13.1p, 12-month range 13p-87p. The Scottish gold producer says gold grades at 430 West ore drive declined ‘significantly’ in late February and early March, reducing total ore production. ‘The 430 West ore drive turned to waste, contradicting the grade control model,’ ScotGold says. Warns of a ‘material uncertainty’ that could exist if the commencement of long hole stope mining is delayed and ore mining continues to be below the mine plan. In order to strengthen its cash position, Scotgold is discussing a $500,000 advance with its gold offtake partner to assist with short-term working capital. The directors are also mulling a short-term convertible loan.
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