The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Ondine Biomedical Inc, up 5.6% at 8.98p, 12-month range 5.00p-11.40p. It has recruited and treated the first patient in its phase 3 clinical trial evaluating its non-antibiotic nasal photodisinfection technology. The life sciences company, specialising in light-activated antimicrobial therapies, says the trial will involve approximately 5,000 patients in 14 hospitals, the first of which enrolled last Friday at Centennial Medical Center in Nashville, Tennessee. The phase 3 trial is being conducted in collaboration with Nashville, Tennessee-based healthcare services provider HCA Healthcare Inc. Ondine says that the group crossover study will recruit surgical patients undergoing ‘cardiac, orthopaedic, vascular, neurosurgical or radical mastectomy procedures’ and aims to compare standard infection prevention methods to Ondine’s nasal photodisinfection technology in reducing the incidence of surgical site infections. It is anticipated that the final patient will be enrolled in mid-2025 with preliminary results expected in autumn.
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AIM - LOSERS
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Proton Motor Power Systems PLC, down 18% at 0.26 pence, 12-month range 0.10p-5.62p. It still plans to exit AIM but adds it is mulling the possibility of the firm’s operations continuing on a ‘significantly reduced cost basis’. The producer of fuel cells and fuel cell electric hybrid systems says it will need to secure a settlement with its outstanding creditors in order to do this. ‘There are therefore no guarantees that it will be able to achieve this,’ Proton Motor says. ‘Notwithstanding this, it is still the intention of the board to seek a cancellation of the company’s ordinary shares from trading on AIM as it does not believe it would be appropriate to maintain the AIM admission on the reduced cost base.’ The firm says it has enough in its coffers to ‘trade solvently’ in the meantime, using funding received under debt facilities, cash generated from its operating and a tax credit expected to be received early in 2025.
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Alteration Earth PLC, down 22% at 10.5p. After a strong start, shares decline on Monday. Shares began trading on AIM on Monday, following Alteration Earth’s move from the London Main Market. At 10.5p, the stock is down over 20% from 13.5p, the price used to raise £855,000 in an equity raise that was part of its reverse takeover and readmission. The re-listed company will change its name to Pri0r1ty Intelligence Group PLC. This follows Alteration Earth buying Pri0r1ty AI Ltd, which has developed an artificial intelligence-driven software-as-a-service solution for small and medium enterprises. Its ’Priority Advisor’ platform can be used by businesses to engage investors, customers and other stakeholders via websites, instant messaging and email.
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