Cenkos: ValiRx Plc -- Laying the Foundation

ValiRx has raised £1m via an equity placing to support the build out of a new lab facility and strengthen its balance sheet. ValiRx has also raised a further £0.3m via a broker offer, subject to shareholder approval. The new laboratory is the first step in building out ValiRx' translational contract research organisation (tCRO), providing a foundation from which ValiRx can bolt-on additional technologies via acquisition. It will also enable internal project work to be brought in-house, generatin

Hybridan Small Cap Feast - 13 Jan 23

13 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

This Week's AIM Highlights 9th December

Cenkos: ValiRx Plc -- Launch of Cytolytix

ValiRx has announced the formation and launch of a new subsidiary, Cytolytix Ltd, which has signed an IP licence agreement with King's College London (KCL) for the triple negative breast cancer (TNBC) peptide, CLX001. Cytolytix is 60% owned by ValiRx, with the balancing share held by KCL and the IP inventors. Following the completion of a successful evaluation programme in July 2022, CLX001 will be the first asset sourced from academia promoted into preclinical development by ValiRx. ValiRx has

Hybridan Small Cap Feast 24/10/22

Joiners: Eastinco Mining (ATN.L) has joined AIM. Leavers: Ted Baker has left the London Stock Exchange. What’s cooking in the IPO kitchen?** Ithaca Energy, a UK independent exploration and production company focused on the UK North Sea, intends to join the Premium Segment of the Main Market. Ithaca Energy is one of the largest independent oil and gas companies in the UKCS, ranking 2nd by resources and 3rd by production. During the six months ended 30 June 2022, Ithaca Energy's average daily prod

Cenkos: ValiRx Plc -Interim Results

ValiRx has announced its interim results for the six months ended 30 July 2022. Group operating loss widened to £1.07m, however, when adjusted for share-based payment charges, this only represented a 3.6% increase YoY, driven predominately by R&D costs. We have updated our forecasts for FY22E which have been impacted particularly by the completion of the July fundraise and the promotion of the King's asset to full in-licensing. We issue new forecasts to FY23E and reiterate our Buy rating.

Cenkos: ValiRx Plc -- Successful Evaluation Agreement

ValiRx has completed a successful evaluation of the triple negative breast cancer asset developed by King’s College London (previously an undisclosed London university) and will initiate preclinical studies imminently. The company cited good evidence of biological activity and promising data for its use in an additional disease area (ovarian cancer) as reasons to promote this asset towards a full in-licensing. Importantly, it provides strong validation of ValiRx’ strategy and demonstrates the co

Cenkos: ValiRx Plc -- Progressing the Preclinical Pipeline

ValiRx has conditionally raised £1.5m (gross) via an equity placing to progress its existing preclinical projects, reinforce its balance sheet as it looks to build out its translational contract research organisation (tCRO) and service the working capital needs of the underlying business. The transaction also includes a broker option which could raise up to a further £1.0m. ValiRx is now well placed to advance its pipeline assets towards formal preclinical development and secure its position as

Cenkos: Healthcare Sector - Ward Round

Weekly round-up of AIM-listed healthcare news. Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics

Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Agronomics, Eden Research, IXICO, HeiQ, Trellus Health, NetScientific, Circassia, 4basebio, Fusion Antibodies, Surgical Innovations Group, Yourgene Health, Abingdon Health, Verici Dx, Poolbeg Pharma, Omega Diagnostics

Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Intelligent Ultrasound, Inspiration Healthcare, Agronomics, CareTech Holdings, e-therapeutics, ABCAM, EKF Diagnostics, HUTCHMED (China), Benchmark Holdings, Totally, ImmuPharma, Open Orphan, Destiny Pharma, Polarean Imaging, Induction Healthcare.

Cenkos: Healthcare Sector -- Ward Round

IXICO, HeiQ, Creo Medical, GlaxoSmithKline, Totally, Advanced Oncotherapy, Arecor Therapeutics, Midatech Pharma, Futura Medical, Yourgene Health, Renalytix, Polarean Imaging, Diurnal, Novacyt, Faron Pharmaceuticals, Poolbeg Pharma, ANGLE

Capital raise completed – Opportunity knocks

Yourgene has raised £7.3m via a heavily discounted capital raise to support working capital and facilitate further cost saving measures. Additional sources of capital are being actively pursued, which would further strengthen the balance sheet. With the balance sheet position improving and growth in the core business returning, the cost base is being rightsized to deliver profitable growth. The pipeline of opportunities remains strong, with the principal challenge remaining converting these in a

Hybridan Small Cap Feast - 17 Jan 23

17 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Hybridan Small Cap Feast - 25 Jan 23

25 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

LIBERUM: Medica Group PLC* - In line statement adds assurance

Confirming further upgrades post positive update

At the trading update earlier this week, NIOX indicated FY22 EBITDA would be around £7.0m, ~15% ahead of already upgraded expectations, with net cash coming in at £19.4m. This was driven by 15% underlying revenue growth, improved gross margins on mix and ongoing operational efficiencies. We formally update our estimates in this note, increasing our FY22 PBT/EPS forecast by 20% but, prudently, leaving FY23/24 unchanged for now. The outlook remains positive with latent growth potential in the US a

Hybridan Small Cap Feast - 23 Jan 23

23 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Morning Note – 16 January 2023

Hybridan Small Cap Feast - 19 Jan 23

19 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Hybridan Small Cap Feast - 26 Jan 23

26 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

SHORE CAPITAL - Oxford BioDynamics+ (OBD) - House Stock at 15p

Hybridan Small Cap Feast - 18 Jan 23

18 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Hybridan Small Cap Feast - 20 Jan 23

20 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

FY22 update – revenues ahead of expectations

SUN continues to recover well, with increased market share in the UK and a strong pipeline of opportunities Internationally leaving the group well-placed for growth in 2023. FY22 revenues were some 5% ahead of expectations and up 20% YoY, back above pre-pandemic levels. Residual staff, supply chain and regulatory challenges should ease over the course of the year and we see grounds for increasing optimism as the year progresses. We nudge up our revenue forecasts by 5%, now forecasting a small PB

Cenkos: RUA Life Sciences Plc -- Vascular graft distribution agreement

RUA Life Sciences has signed a global distribution agreement with Corcym, a medical device company focussed on treating heart conditions. The agreement will cover the distribution of RUA's large bore straight and aortic root grafts, for which RUA is currently working towards gaining FDA clearance. We expect RUA's grafts to be complementary to Corcym's existing product portfolio which is sold in over 100 countries. The agreement establishes global distribution for the vascular grafts and validate

Successful completion of POLB 001 LPS challenge trial

POLB announces today that it has now received the initial results having completed the Lipopolysaccharide (LPS) human challenge clinical trial for POLB 001, a viral strain agnostic, small molecule immunomodulator being developed to address the unmet medical need for severe influenza. Importantly POLB was safe and well tolerated and the team will be able to use this dataset as part of their discussions with potential partners at the annual JPMorgan Conference in January 2023. The full read out of