The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Global Petroleum Ltd, more than double at 0.14 pence, 12-month range 0.040p-0.21p. The Africa and Mediterranean-focused oil and gas company says it has entered into early commercial discussions with a potential operating partner for a farm-in agreement for its licence PEL94. It says this is a result of recent activity in the Walvis Basin, offshore Namibia. Global says a farm-in ‘could be transformational for the business’, if successful. The company adds: ‘Global is hopeful in reaching a mutually beneficial agreement with the Partner in due course following further due diligence and negotiations.’
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AIM - LOSERS
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BiVictriX Therapeutics PLC, down 38% at 8.00p, 12-month range 7.75p-15.42p. The biotechnology company plans to cancel trade on AIM and re-register as a private limited company. It is expected that cancellation will become effective on September 11, if the resolution is passed at the company’s general meeting. CEO Tiffany Thorn explains: ‘With a growing pipeline of novel, first-in-class bispecific Antibody Drug Conjugates, together with a highly competitive platform in one of the most commercially attractive sectors across the entirety of the oncology drug development market, BiVictriX is well positioned to capitalise on its already strong foundations. To maintain our competitive advantage within this space, we intend to progress our pipeline and platform expeditiously, and after extensive review, the board has concluded that this will be best achieved by the company delisting from AIM and re-registering as a private company.’
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Celadon Pharmaceuticals PLC, down 43% at 30.00p, 12-month range 22.50p-155.00p. The pharmaceutical company says operations continue to perform in line with management expectations. It notes that given limited capacity at its facility, it has been exploring alternative options to supply pharmaceutical-grade cannabis to its European customer. ‘Celadon continues to make good operational progress, including the recent supply of our cannabis Active Pharmaceutical Ingredients to UK Specials Manufacturers for supply to UK Private Pain clinics, which is reflected in positive discussions with potential lenders about substantial new, longer term debt facilities,’ CEO James Short says. ‘Whilst there have been delays in receiving funding, both the investor and lender have re-confirmed their commitments to, and support for, the company.’
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