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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Scancell Holdings PLC, up 26% at 16.50 pence, 12-month range 10.50p-22.90p. The cancer immunotherapies developer announces licensing agreement with biotechnology company Genmab. Copenhagen-based Genmab now has the exclusive rights to develop and commercialise one of Scancell's investigational anti-glycan monoclonal antibody into novel therapeutic products. The products cover any and all potential disease areas, excluding cell therapy applications. Scancell will be eligible for upfront payments, milestone payments of up to USD208 million for each product developed and commercialised up to a maximum of USD624 million, and "low single digit" royalties for products sold.
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Empire Metals Ltd, up 31% at 1.02 pence, 12-month range 0.0075p-1.15p. Shares very promising update on its Pitfield copper-gold project in Western Australia. The London-based minerals explorer and developer said an expert review has confirmed Pitfield has "all the hallmarks of a "giant" copper mineralised system". The expert review was based on recent geophysical surveys and the historical exploration database of the site. Pitfield potentially contains multiple seidiment-hosted stratabound copper deposits, and an "exceptionally large" magnetic anomaly which spans over 40 kilometres has been identified there.
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AIM - LOSERS
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Jubilee Metals Group PLC, down 7.4% at 11.39 pence, 12-month range 1.20p-17.90p. Sees annual profit decline steeply as costs ballooned following a huge capital expansion programme. The London-based metal processing company posted a 40% drop in pretax profit to GBP26.5 million for the financial year that ended June 30 from GBP43.0 million in the prior year. Revenue increased by 5.4% to GBP140.0 million from GBP132.8 million after completing its investment programme. The company said its "transformative year" had been primarily facilitated by a GBP58 million capital expansion project through which it acquired and refurbished processing facilities in South Africa's platinum group metals and chrome-rich Bushveld Complex, and the copper-rich Southern extent of Zambia.
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By Paul McGowan; paulmcgowan@alliancenews.com
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