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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Futura Medical, up 71% at 78.70 pence, 12-month range 7.65p-84p. The pharmaceutical company reaches an agreement with the US Food & Drug Administration for further studies into its erectile dysfunction treatment. The FDA agreed to a confirmatory clinical study for MED3000 to be conducted. The study will be known as FM71. The FM71 will be conducted before formal regulatory submission as a DeNovo Medical Device.
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88 Energy, up 28% at 1.44p, 12-month range 0.2p-1.8p. The Alaska-focused oil producer says Merlin-1 production hole drilling is to commence imminently at its project Peregrine in the NPR-A region of the North Slope of Alaska. 88 Energy reports that the Merlin-1 surface hole was successfully drilled to 1,512 feet as planned.
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EQTEC, up 19% at 2.26p, 12-month range 0.13p-3.17p. The gasification technology company says financial forecasts indicate profitability in 2021 as its pipeline continues to grow. For 2020, the company expects to report a loss no lower than EUR4 million, before any potential one-off adjustments. For 2021, EQTEC is targeting contracted sales growth from six to eight projects across Europe. Revenue is forecast to be approximately EUR15 million in 2021, with positive earnings before interest, taxes, depreciation and amortisation, which would make 2021 EQTEC's first year of profitability.
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Tremor International, up 15% at 700p, 12-month range 96.12p-716.30p. The video advertising technology firm upped its annual guidance as it kicked off 2021 with improved trading during its traditionally weaker quarter. Tremor expects net revenue between USD55 million and USD60 million in the first quarter, up as much as 87% from USD32.1 million a year earlier.
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Cambria Automobiles, up 12% at 74p, 12-month range 0p-89.74p. The franchised motor retailer gives consent to members of its management team exploring the potential acquisition of all shares in the company they do not own. Chief Executive Officer Mark Lavery, Finance Director James Mullins and Motor division Managing Director Tim Duckers are exploring the potential acquisition of shares in Cambria at 80 pence in cash per share. As Cambria has 100.0 million shares issued overall, it would mean that at most 60.0 million shares would be up for acquisition, valued at GBP39.6 million based on Friday's closing share price of 66.00p.
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Faron Pharmaceuticals, up 12% at 350.25p, 12-month range 216.05p-595p. The Finland-based biopharmaceutical company notes data which showed "significant survival benefit" in patients responding to cancer treatment bexmarilimab. Company says this is "very exciting data" supporting bexmarilimab's unique mechanism of action and adding to the accumulating evidence of bexmarilimab's broad potential across a range of hard-to-treat cancers.
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AIM - LOSERS
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Mobile Streams, down 36% at 0.29p, 12-month range 0.08p-0.52p. The mobile content and data intelligence firm raises GBP2.0 million through an oversubscribed placing, which will go towards providing working capital as well as firepower for potential acquisition opportunities. Mobile Streams issued 800.0 million shares at a price of 0.25p each, through a placing arranged by broker Peterhouse Capital. The placing price reflects a 43% discount to Mobile Streams' closing price on Friday of 0.44p.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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