Sinclair Pharma Share News (SPH)

Barclays Capital has started its coverage of Micro Focus International with an overweight recommendation. In its AGM statement last week, the software company said that trading is in line with previous statements and it is on course to be cash positive by next March. Gartmore has cut its stake in Sinclair Pharma from 9.21m shares to 7.75m shares, thereby reducing its stake to 4.77%, The dermatology treatments supplier recently raised £19m at 28p a share - a premium to its then market price. This will pay off all of the company's borrowings and provide investment for marketing and regulatory spending. Sinclair lost money in the year to June 2010 but this masks a big improvement in the second half when Sinclair managed to move into profit. The improving trend is set to continue. There were £1.5m of cost savings last year. The first European revenues from athlete's foot spray Terbinafine are expected in early 2012. FTSE TechMARK - RisersArk Therapeutics (AKT) 4.75p +12.56%Micro Focus International Plc (MCRO) 388.70p +6.20%Telecity Group (TCY) 544.00p +5.63%Vislink (VLK) 17.50p +5.71%Network Technology (NTY) 1,875.00p +4.00%Oxford Instruments (OXIG) 483.50p +2.87%ProStrakan (PSK) 54.00p +2.86%RM Group (RM.) 141.00p +2.73%Innovation Group (TIG) 11.00p +2.33%Torotrak (TRK) 22.00p +2.27%FTSE TechMARK - FallersNXT (NTX) 3.88p -11.42%DRS Data (DRS) 21.25p -3.53%Renovo Group (RNVO) 28.00p -3.45%Vernalis (VER) 36.00p -2.70%Cable & Wireless Communications (CWC) 59.45p -2.14%Sinclair Pharma (SPH) 28.00p -1.79%Psion (PON) 94.00p -1.57%Phytopharm (PYM) 8.29p -1.43%Consort Medical (CSRT) 434.00p -1.36%Wolfson Microelectronics (WLF) 234.25p -1.06%