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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System1 Group PLC, up 17% at 189.5 pence, 12-month range 115p-295p. The marketing and brand consultancy says it expects to return to profit in the second half, and year as a whole, on an adjusted and statutory basis, thanks to an improved revenue performance in the second half. It expects profit for the year to March 31 will now ‘slightly’ exceed its previous expectations. In its half year to September 30, it posted a pretax loss of £6,000, swung from pretax profit of £1.3 million a year before. Says revenue in the fourth quarter rose 26%, and by 9% in the second half overall, bringing the annual total to £23.3 million. This is 3.3% lower than financial 2022, however. CEO James Gregory says he is ‘delighted’ by the upturn in the second half. ‘The profitable growth in our standard, platform-based products in the US and elsewhere demonstrates that we have the right strategy, business model and management team,’ he says.
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Immupharma PLC, up 14% at 2.45p, 12-month range 1.36p-5.8p. The specialist drug discovery and development company says it has received confirmation of a meeting with the US Food & Drug Administration. The pre-investigational new drug meeting will take place on May 16. It concerns the phase 2/3 adaptive trial study protocol for P140 in chronic idiopathic demyelinating polyneuropathy. ‘We are delighted to be moving P140 into its second indication for CIDP patients who suffer from a rare disease with high unmet medical need. This is a great example of P140’s broad potential,’ says CEO Tim McCarthy.
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AIM - LOSERS
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Bezant Resources PLC, up 32% at 0.45p, 12-month range 0.04p-0.19p. The copper and gold explorer and developer launches £750,000 fundraise to facilitate its mining operations, via the issue of 1.9 million shares at a price of 0.04p. This is a 33% discount to its closing price of 0.06p on Tuesday. Says the proceeds will be put towards technical studies and negotiations with contractors, and undertaking a reconnaissance exploration at an anomaly identified during its airborne survey. ‘At the Kayne manganese project in Botswana the focus will be metallurgical test work and in-house Mineral Resource estimation and planning follow up drilling. We look forward to updating shareholders on these activities,’ says Chair Colin Bird.
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