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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Anglo Asian Mining PLC - Gold, copper and silver producer primarily focused in Azerbaijan - Reports drop in the output of gold equivalent, which in the first quarter to March 31 falls 20% to 10,969 ounces from 13,720 a year prior. The gold production decreases 33% to 6,741 ounces from 10,040 ounces, while the gold sales price per ounce as at March 31 falls 0.5% to USD1,895 from USD1,904. Gold sales in the quarter decline 24% to 5,719 oz from 7,519 oz. Looking ahead, company plans to bring four new mines in production between 2023 and 2028.
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Block Energy PLC - London-based oil and gas exploration and production company focused on Georgia - Posts higher oil output for three months to March 31, of 36,000 barrels of oil equivalent, up 4.7% from 34,400 a quarter ago, but down 22% from 46,100 a year ago. Revenue falls to USD1.2 million from USD1.8 million a quarter ago and from USD2.4 million a year prior. Weighted average price per barrel falls 5.1% to USD75 from USD79 quarter ago, and 16% from USD89 a year ago. The company adds as at March 31, it has about 12,500 barrels of oil in storage which it anticipates to sell in April, generating about USD1.0 million in revenue at the current Brent price, which will be reported in the next reporting period.
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Faron Pharmaceuticals Ltd - Turku, Finland-based biopharmaceutical drug discovery and development company - Announces data for bexmarilimab, its immunotherapy asset that is an antibody, in combination with standard of care in relapsed/refractory acute myeloid leukaemia and myelodysplastic syndromes. Myelodysplastic syndromes are a group of cancers in which immature blood cells in the bone marrow do not mature or become healthy blood cells. Company explains that in cohorts, patients showed responses, such as a haematological improvement in platelets. Faron says it is on a potential path to a biologics license application submission, planning to seek advice from the US Food & Drug Administration during the third quarter of the year. Chief Executive Officer Markku Jalkanen said: "The latest data are a powerful indication of the therapeutic potential for bexmarilimab in hematological malignancies."
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Infrastructure India PLC - AIM-listed, India-focused infrastructure fund - Agrees to increase loan with IIP Bridge Facility LLC by USD8 million to USD119 million, with the amount of interest accrued set to be around USD70.9 million.
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More Acquisitions PLC - special purpose acquisition company - Announces it is in the final stages of the proposed reverse takeover of Wiltshire, England-based steel distributor Megasteel Ltd. In September, More Acquisition had said Megasteel is valued at between GBP49.5 million to GBP63 million.
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Ondine Biomedical Inc - Vancouver-based life sciences company innovating in the field of photodisinfection therapies - Reports "substantial" progress on the preparation of its phase 3 clinical study for the commercialisation of Steriwave in the US, its nasal photodisinfection therapy, which it in January said had been found to improve short- and long-term immune responses while also "significantly" reducing Covid-19 infectivity.
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Enters into final year of sole distribution agreement with HH Simmonsen AS, which Sealand says is on "more favourable terms." Explains that it will only pay 50% upfront for the cost of merchandise it orders from HH Simmonsen, down from the full cost. HH Simmonsen is a Denmark-based brand of hairdressing specialists.
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By Tom Budszus, Alliance News reporter
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