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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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LungLife AI Inc, up 36% at 62.33 pence, 12-month range 19.00p-141.10p. The developer of clinical diagnostic solutions designed to address the early detection of lung cancer announces the successful validation of its LungLB test for indeterminate lung nodules. This is from a "prospective, multi-site clinical study in the clinically important small nodules patient group". The LungLB test is a blood-based tool used by clinicians to help with earlier diagnosis of lung cancer nodules. The diagnostic demonstrates a positive predictive value of 81% in distinguishing benign from cancerous lung nodules in patients with nodules smaller than 15 millimetres. This surpasses the current clinical standard of around 60%. According to LungLife, the results are sufficient for publication and the execution of its commercial programme for LungLB. The initial launch will be through an early access program offered from its California laboratory in the first quarter of 2024.
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Sareum Holdings PLC, up 19% at 71.00p, 12-month range 50.00p-149.00p. The pharmaceutical company's co-development partner CRT Pioneer Fund enters into a development and commercialisation licence for SRA737 with an unnamed US biopharmaceutical company. SRA737 is a clinical-stage oral, selective checkpoint kinase 1 inhibitor that targets cancer cell replication and DNA damage repair mechanisms. Sareum says an immediate upfront payment of USD500,000 is due to CRT Pioneer Fund, while an additional fee made up of up to USD1.0 million cash and 500,000 shares in the licensee company may be payable upon the sooner 12 months following the signing of the licencing agreement, or if the licensee company achieves certain commercial and material financing objectives. A further announcement regarding any future income, including any shares which may be issued, will be made "at the appropriate time".
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AIM - LOSERS
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Plexus Holdings PLC, down 15% at 17.94p, 12-month range 1.60p-31.40p. The oil and gas engineering services business completes an agreement with SLB to replace an existing surface production wellhead licence with a new licence over a wider field of use for USD5.2 million in cash. It says SLB acquires a perpetual royalty free license for Pos-Grip technology and HG seal technology plus any improvements, enhancements, or derivatives to the technology for surface wellhead production applications for all pressure and size ranges. Plexus says the licence scope includes oil and gas production and storage applications, as well as carbon dioxide storage and hydrogen storage, alongside water and cuttings reinjection. Plexus Chief Executive Officer Ben van Bilderbeek says: "This new licence agreement is a further validation of Plexus' [intellectual property] by this leading energy technology company and recognises the contribution our leak-proof POS-GRIP wellhead equipment can make to the oil and gas industry's [environmental, social and governance] and net zero goals."
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By Greg Rosenvinge, Alliance News senior reporter
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