Xeros put through the wringer again as it announces new chairman

Xeros Technology Group PLC (LON:XSG), one of the worst performers of 2019, slumped 6.1% to 1.005p on Monday after a change of chairman.

The developer and provider of water-saving and filtration technologies announced the appointment of Klaas de Boer as chairman. At the same time, David Armfield gave up the chair to become the senior independent director.

Shares in Xeros lost around nine-tenths of their value in 2019.

11.55am: Faron rebound continues

Faron Pharmaceuticals Oy (LON:FARN) continued its share price rebound, adding 3.7% at 282.5p, after positive news on a cancer drug trial.

The data monitoring committee overseeing the phase I/II trial of Farons cancer drug has approved an expansion of the study into late-stage colorectal cancer.

The MATINS assessment is currently gauging safety and tolerability as well as the efficacy of its Clevegen treatment in people with melanoma, pancreatic, ovarian and colorectal cancer.

11.15am: IndigoVision in the pink after trading update

Closed-circuit TV specialist IndigoVision Group plc (LON:IND) advanced 4.8% to 187p after it reported a 9% increase in revenues for 2019.

Gross margins were maintained in line with the prior year and with strong cost control, the company expects to report operating profit and underlying earnings (EBITDA) in line with market expectations, the company said.

Net cash in hand at the end of 2019 stood at US$2.0mln.

10.30am: Diaceutics raises profits guidance

Diaceutics PLC (LON:DXRX), which tests patients for precision medicines, shot up 14% to 116.5p after its year-end trading update.

The company said it made a strong finish to 2019 as a result of which revenue and adjusted underlying earnings (EBITDA) are expected to be ahead of market expectations.

Revenue is tipped to clock in at about £13.4mln, up from £10.4mln the year before, while EBITDA should exceed £2.1mln (2018: £1.5mln).

9.30am: Tiziana plunges after announcing plans to cancel its AIM listing

Tiziana Life Sciences PLC (NASDAQ:TLSA, LON:TILS) announced plans to cancel its AIM listing on Monday, sending the shares plunging 42% to 30p in early trading.

The biotechnology company, which is focused on the discovery and development of innovative therapeutics for inflammation and cancer indications, said it intends to re-domicile to Bermuda by the second quarter of this year.

The company's shares are also currently traded as American Depositary Receipts (ADRs) on NASDAQ but the company plans to drop the ADRs and have its Bermuda common shares traded on NASDAQ instead.

Meanwhile, with its shares having spiked last month, Richland Resources Ltd (LON:RLD) has taken advantage of the share price strength to issue shares and raise £150,000.

Richland's shares shot up last month from 0.09p to 0.36p on the back of the proposed sale of the Capricorn Sapphire Project, although the shares had ebbed to 0.15p by Friday's close.

The company is raising the money by placing shares at 0.1p a throw. Richland's shares fell 24% to 0.11p.

Proactive news headlines:

Verona Pharma PLCs (LON:VRP, NASDAQ:VRNA) lead investigator for its phase IIb study of the firm's drug for chronic obstructive pulmonary disease (COPD) has described the results from the trial as “impressive”. The nebulized ensifentrine treatment was being assessed in harness with a current established treatment called tiotropium, a long-acting anti-muscarinic, which relaxes and enlarges the airways in the lung. The combination had a “strong effect” on both bronchodilation (opening of the airways) and quality of life.

Anglo African Oil & Gas PLC (LON:AAOG) and Zenith Energy PLC (LON:ZEN) have agreed a put and call option deal for Zenith to acquire a final 20% stake in the AAOG Congo subsidiary which holds a 56% interest in the Tilapia field. In December, Zenith agreed a deal to acquire 80% of AAOG Congo from AOOG, and, via the new option deal, it can take full ownership of the subsidiary subject to Tilapias production performance in the next year.

Faron Pharmaceuticals Oy (LON:FARN) (NASDAQ-FIRSTNORTH:FARON) said the data monitoring committee overseeing the phase I/II trial of its cancer drug has approved an expansion of the study into late-stage colorectal cancer. The MATINS assessment is currently gauging safety and tolerability as well as the efficacy of its Clevegen treatment in people with melanoma, pancreatic, ovarian and colorectal cancer. The drug, which can switch immune suppression to immune activation, will be administered in a low dose (0.3 milligrams per kilogram) in colorectal patients.

KRM22 PLC (LON:KRM) said it is “on track” to be profitable in 2020 following a strong uptick in revenues for 2019. In a trading update for the year ended 31 December, the risk management specialist said revenues for the period had risen to £4mln from £1.3mln and its adjusted underlying loss (EBITDA) will be “in line with expectations”

Instem PLC (LON:INS), the provider of information technology solutions to the life sciences market, saw strong organic revenue growth in 2019. Strong performance across the group's operations, combined with healthy new business pipelines, underpin management's confidence that the momentum achieved during 2019 will continue into the current year. The company revealed that revenues in 2019 were around 12% higher than in 2018 with underlying earnings (EBITDA) in line with management's expectations.

Remote Monitored Systems PLC's (LON:RMS) Cloudveil subsidiary has successfully completed testing of its unique mobile protective surveillance programme (MPSP) with a new client. The unnamed new client is a manufacturer and distributor of fast-moving consumer goods. The pilot scheme involved transporting a high-value cargo that was at serious risk from identified malicious threats across a continent at short notice.

Caledonia Mining Corporation Plc (LON:CMCL) (TSE:CAL) has produced a record 16,876 ounces of gold during the quarter ended 31 December 2019. In a statement, Caledonias chief executive Steve Curtis said that an improvement in the electricity supply and a rigid focus on grade control had helped boost production at the Blanket gold mine in Zimbabwe by 24% over the previous quarter, and by 13% compared to the corresponding quarter in 2018.

Base Resources Ltd (ASX:BSE) (LON:BSE) has issued revised production guidance for the Kwale mineral sands project in Kenya. In a statement, it said production of rutile is now expected to be between 75,000 and 81,000 tonnes, up from a previously forecast range of between 64,000 and 70,000. It said ilmenite and zircon guidance has also been boosted, as separation efficiency has improved following the transition from mining at the Central Dune to the South Dune.

NQ Minerals PLC (Read More – Source

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