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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Hemogenyx Pharmaceuticals PLC, up 8.5% at 1.60 pence, 12-month range 1.05p - 2.12p. Completes its second process qualification run of the end-to-end process for the manufacture of HEMO-CAR-T cells. This was followed by analytical release tests to verify the quality of the manufacturer HEMO-CAR-T cells. The biopharmaceutical firm explains this run is the second of a minimum of three identical manufacturing runs needed for the submission of an investigational new drug application to the US Food & Drug Administration. The application is needed to gain authorisation from the US FDA to begin phase one clinical trails for HEMO-CAR-T cells.
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SMALL-CAP - LOSERS
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HeiQ PLC, down 53% at 26.00 pence, 12-month range 24.10p - 109.41p. Says its sales in the fourth quarter of 2022 were impacted by a "significant" deterioration in consumer demand as a result of worsening macroeconomic conditions. The textiles technology firm adds this reduction in sales has also been compounded by brands increasing their levels of inventory to all-time highs after the pandemic, due to persisting supply chain concerns. Consequently, HeiQ's customer base sees around 70% less demand in the final quarter of 2022. In addition, sales in China especially suffer due to pandemic related lockdowns. HeiQ now expects revenue for the year to be 20% below market expectations at between USD54 million and USD55 million. The firm's pretax loss is expected between USD2.5 million and USD3.5 million.
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By Heather Rydings, Alliance News senior economics reporter
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