(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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Hutchmed (China) Ltd, up 13% at 184.96 pence, 12-month range 1.30p - 194.00p. The Hong Kong-based biopharmaceutical company reports positive top-line results for its gastric cancer treatment fruquintinib, when combined with paclitaxel. The drug met one of its primary endpoints of statistically significant improvement in progression-free survival during a phase three study in 703 patients, which the firm explains is clinically meaningful. The study looked at patients with advanced gastric or gastroesophageal junction adenocarcinoma, a type of cancer.
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Midatech Pharma PLC, up 7.2% at 6.49 pence, 12-month range 6.00p - 24.63p. Enrols the first patient into its phase one study of MTX-110 in recurrent glioblastoma, a type of cancer that appears in the brain or spinal cord. The study is an open-label, dose escalation study to assess the feasibility and safety of intermittent infusions of MTX-100. Cardiff-based biotechnology firm Midatech says it previously reported "encouraging results" from a phase one study of MTX-110 in diffuse intrinsic pontine glioma, a type of tumour that is located on the brain stem.
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SRT Marine Systems PLC, up 7.6% at 48.95 pence, 12-month range 23.60p - 55.00p. The maritime surveillance, analytics and management systems developer reports a steep increase in interim revenue as it swings to a pretax profit of GBP2.1 million from a loss of GBP3.1 million. In the six months to September 30, SRT Marine Systems reports revenue of GBP18.8 million, multiplied from GBP4.7 million the previous year. This, it adds, is despite ongoing component supply issues. Chief Executive Simon Tuckers expects this strong performance to continue going forward as long-term demand stays robust.
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AIM - LOSERS
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Tremor International Ltd, down 26% at 281.00 pence, 12-month range 2.90p - 330.60p. Swings to a total comprehensive IFRS loss of USD5.2 million in the three months ended September 30, from a profit of USD10.2 million the previous year. Revenue in the quarter drops 19% year-on-year to USD70.9 million from USD87.0 million. Despite the drop in profit and revenue, Tremor says it remains "well-positioned" to benefit from "anticipated industry secular growth trends" which it expects to help mitigate potential negative effects. Full-year adjusted earnings before interest, taxation, depreciation, and amortization is expected at USD140 million.
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Shanta Gold Ltd, down 12% at 9.60 pence, 12-month range 6.50p - 14.00p. Three companies which previously expressed interest in the East Africa-focused gold producer, developer and explorer say they do not intend to make an offer for the firm. In October, Shanta received approaches from Shandong Gold Group Co Ltd, Yintai Gold Co Ltd and Chaarat Gold Holdings Ltd. These companies have since decided not to proceed with an offer. Nonetheless, Shanta says it continues to believe in the strength of its business and the potential of its portfolio.
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By Heather Rydings; heatherrydings@alliancenews.com
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