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London afternoon: Shares aim higher

Fri, 28th Aug 2009 14:27

London's blue chips have added to gains in afternoon trading ahead of what is expected to be a rosy start on Wall Street.US stocks are seen posting good gains after Intel hiked its third-quarter revenue outlook just before the open.Kazakhmys, Xstrata, Rio Tinto, Antofagasta, Randgold Resources, Anglo American and Vedanta Resources are all amongst the major risers.Lloyds is amongst the risers on rumours that it is considering alternatives to the government's toxic asset protection scheme (APS), which could include the sale of Scottish Widows or even a rights issue. The part-nationalised lender may also sell Clerical Medical, a provider of investment products and pensions.National Express dropped after it rejected the improved 450p per share offer from a consortium led by its main shareholder, saying that it undervalued the group and its prospects.Bus and rail operator Stagecoach said conditions remain challenging as it reported a 4.4% rise in like-for-like UK bus revenues and a 0.9% rise in UK rail revenues in the 12 weeks to July 26. Online gaming giant PartyGaming saw pre-tax profits rise at the half year stage, but revenues fell by 21% predominantly due to the strength of the dollar against the euro and sterling. Cost control measures and a refusal to slash prices helped Restaurant Group, the company behind the Frankie & Bennie's and Chiquito chains, to post a rise in profits for the first half of the year despite falling sales at its restaurants.Oil explorer Dana Petroleum reported a sharp drop in first half profits in what it called a very difficult macro economic environment. Profit before tax for the period was £21.9m from £133.1m last time. JKX Oil meanwhile saw lower oil prices crimp profits for the half-year but said its second half performance is expected to be in line with expectations.Oil explorer Heritage Oil reduced half year losses and said growth prospects never looked better, while fellow oil and gas firm Melrose Resources upgraded its full year production guidance but saw half-year results also hit by lower commodity prices.Independent News and Media, the Irish publisher of the UK's Independent newspaper, swung to a first-half net loss and said it expects full-year profits to be at the low end of guidance.Edinburgh based publisher Johnston Press said half year pre-tax losses swelled to £94m as revenues fell 25%. The group, which produces the Yorkshire Post and The Scotsman, said pre-tax loss swelled to £94.2m in the 26 Weeks to 30 June 2009 from a loss of £53.7m the year before. Revenue fell to £218.6m.Advertising firm Aegis saw profits slide in the first half of the year after the downturn in the sector proved more difficult than expected. Pre-tax profits for the period totalled £6.6m compared with £47.4m for the first half of 2008. Revenue climbed to £636.7m from £607.6m due to positive currency effects.Laundry and workwear firm Davis Service Group posted a slight fall in pre-tax profits in the first half of the year as it continued to experience tough trading in its main markets.Upmarket cooker maker Aga moved into the red in the half year to 30 June and expects Autumn sales to match levels seen the same time last year.Investment bank Evolution saw adjusted operating profit jump 102% in the half year ended 30 June to £9.1m as Investment Banking income rose 93% to £33.9m, mainly from more sustainable secondary equities and fixed income commissions.FTSE 100 - RisersKazakhmys (KAZ) 997.50p +6.46%Lloyds Banking Group (LLOY) 110.74p +5.77%Xstrata (XTA) 834.00p +5.30%Eurasian Natural Resources (ENRC) 870.00p +4.82%Randgold Resources (RRS) 3,642.00p +4.66%Lonmin (LMI) 1,476.00p +4.38%Wolseley (WOS) 1,463.00p +4.13%Antofagasta (ANTO) 770.00p +3.98%FTSE 100 - FallersSerco Group (SRP) 470.00p -2.67%Pennon Group (PNN) 461.50p -1.33%BG Group (BG.) 1,032.00p -0.86%Schroders NV (SDRC) 911.00p -0.82%United Utilities Group (UU.) 462.20p -0.75%National Grid (NG.) 600.00p -0.66%Cobham (COB) 202.80p -0.64%Schroders (SDR) 1,080.00p -0.64%
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16 Jan 2024 18:59

IN BRIEF: Evgen partner raises USD17.4 million to support pipeline

Evgen Pharma PLC - clinical stage drug development company developing sulforaphane-based medicines - Notes that its partner in autism spectrum disorder and other neurodevelopmental disorders Stalicla SA has announced that it has raised USD17.4 million, inclusive of a credit facility. This is to to support programmes on STP1, Stalicla's first asset in ASD, and a further asset in substance use disorders together with a biosampling and patient identification study in ASD. Evgen says it continues to work with Stalicla on delivery of a milestone payment for SFX-01 (Stalicla's STP2). Evgen says both parties are engaged in analysis and interpretation of Evgen's recent Phase 1b healthy volunteer PK/PD study and the implications for a future phase 2 trial in ASD. Evgen says it will provide updates on the status of the programme in "due course" and has not anticipated any milestone payments from Stalicla in its financial forecasting.

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22 Dec 2023 18:06

IN BRIEF: Evgen appoints Toni Hanninen as permanent CFO

Evgen Pharma PLC - clinical stage drug development company developing sulforaphane-based medicines - Appoints Toni Hanninen as permanent chief financial officer, adding that he will now join the board as a director. Hanninen was appointed as interim CFO in September, having previously worked at Faron Pharmaceuticals Ltd. His permanent appointment becomes effective from January 1. Evgen also confirms that non-executive director, Susan Clement-Davies, will be retiring from the board.

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31 Oct 2023 14:38

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26 Oct 2023 11:08

Evgen upbeat on start of glioblastoma research project

(Sharecast News) - Clinical-stage drug developer Evgen Pharma announced on Thursday that it has partnered with Dr Marjolein Geurts, a neuro-oncologist at Erasmus University Medical Centre, to start a ground-breaking research initiative in glioblastoma.

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19 Oct 2023 19:39

IN BRIEF: Evgen showcases importance of new enteric-coated formulation

Evgen Pharma PLC - Cheshire, England-based clinical stage drug developer - Highlights article published in respected industry publication the Medicine Maker, by its Chief Business Officer, Helen Kuhlman. The article, entitled the Sulforaphane Promise, focuses on the recent study of Evgen's new enteric-coated tablet formulation, and why enteric coatings are of particular importance for a stabilised complex such as SFX-01 that releases highly biologically active sulforaphane. The SFX-01 complex is vulnerable to breakdown in acid conditions and the enteric coat prevents acid attack in the stomach, releasing the drug in the ideal region - the small bowel. It also discusses the pharmacodynamic and pharmacokinetic data from the recent study, demonstrating the improvements of the tablet formulation over previous formulations of SFX-01.

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5 Sep 2023 14:22

Evgen Pharma hires interim CFO from Faron, chair to retire this month

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15 Aug 2023 10:01

Evgen Pharma says trial shows new SFX-01 drug formulation is safe

(Alliance News) - Evgen Pharma PLC on Tuesday said final data from a trial of its SFX-01 therapy has shown a new formulation of the drug is safe.

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2 Aug 2023 10:28

IN BRIEF: Evgen Pharma shares drop on ending of license agreement

Evgen Pharma PLC - Cheshire, England-based clinical stage drug development company focused on developing sulforaphane-based medicines - Terminates the patent and know-how license agreement for its Sulforadex sulforaphane stabilisation technology with partner JuvLife Ltd. The exclusive rights will be returned in the final quarter of 2023. The already received upfront payment is non-refundable.

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