The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Belluscura PLC, up 46% at 16.04 pence, 12-month range 7.00p-52.00p. The London-based medical device developer’s shares jumped, as it set full-year revenue expectations between $8 million and $10 million, up substantially from $825,409 a year prior. This guidance was set amid record sales for the month of July, with revenue of $708,000, and ahead of the full commercial launch of Discov-R, a portable oxygen concentrator. Chair Adam Reynolds said: ‘We are delighted with the growth in sales and distribution over the past six months for both the X-Plor and Discov-R portable oxygen concentrators. Whilst it has taken time to bring both products to market, and we are grateful for the patience of our shareholders, we now have two leading lightweight portable oxygen enrichment concentrators that meet the stringent requirements of the FDA...The board looks forward to the remainder of 2024 and into 2025 with a real sense of confidence.’
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GreenRoc Strategic Materials PLC, up 52% at 1.60 pence, 12-month range 1.00p-5.00p. The London-based mining company with operations in Greenland has signed a letter of interest with Otra Holdings AS to secure an area in Southern Norway for its graphite active anode materials production plant. It has also applied for strategic project status under the EU’s Critical Raw Materials Act and has submitted the project description for the Amitsoq Graphite Mine in South Greenland to the Government of Greenland as part of the its path to achieving an exploitation licence.
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AIM - LOSERS
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Allergy Therapeutics PLC, down 14% at 4.00p, 12-month range 1.06p-6.30p. The Sussex, England-based biotechnology company’s shares fell on Tuesday, despite securing an additional £5 million in loans, extending its cash runway. Major shareholders SkyGem Acquisition Ltd and Southern Fox Investments Ltd have agreed to provide a further £5 million from an existing loan facility. The facility was first announced in December last year. Allergy Therapeutics said it now has extended its cash runway into late September. It noted that there remains a further £12.5 million of uncommitted funding available under the amended loan facility.
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