The stock continues its incredible rally over the past few months, where the share price has grown by more than500%.
Companies: Versarien Plc
Versarien (LON: VRS) has announced today it has signed an agreement with a US-headquartered global chemical supplier, sending the stock up almost 30% in early trading.
The deal with the unnamed Fortune 100 company will see both parties working together on R&D of a number of products, including its patented Nanene product. Nanene is a type of graphene, the strongest material known, with Nanene being a particular type of graphene with a huge variety of uses and applications.
The agreement will allow "both parties to better understand the future opportunities of further agreements".
Shares jumped to an all-time high of almost 80p on Monday morning, representing a 515% share price hike in just six weeks.
Versarien Chief Exec Neill Ricketts commented:
"This agreement is another significant collaboration we have agreed to date...
This agreement with one of the world's largest chemical and specialist material groups further demonstrates that Versarien is rapidly establishing itself as the go-to supplier of high-quality graphene and other potentially industry disruptive 2D materials."
VRS began its incredible rally in early October which was bolstered by the news later in the month the Group had entered into a collaboration with Israel Aerospace Industries.
It also announced its collaboration with "two of the world's largest consumer goods groups" in November which sent shares soaring 33%.
The Group trades on a 12-month forecast price to earnings multiple of 197 according to Stockopedia while Revenues are expected to double in the two years to FY19.
