(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Renalytix PLC, up 60% at 122 pence, 12-month range 44p-155p. The London-based kidney health-focused diagnostics company says the US Food & Drug Administration has granted marketing authorisation for its KidneyIntelX.dkd prognostic testing platform. The FDA's approval will lead to increasing test adoption, insurance coverage, and additional international regulatory approvals, it says. KidneyIntelX.dkd platform is used for type two diabetes and kidney disease care management. Chief Executive James McCullough said: "Meeting the rigorous safety, clinical and analytical validation, and scientific data requirements of an FDA review, from breakthrough device designation to de novo marketing authorisation, is a landmark event for health care providers and patients with diabetic kidney disease."
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AIM - LOSERS
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Trackwise Designs PLC, down 50% at 0.20p, 12-month range 0.13p-0.49p. The manufacturer of products using printed circuit technology warns that production delays caused by an electric vehicle original equipment manufacturer have yet to be resolved. Consequently, the planned increase in working capital following the start of production has been delayed. The firm has a cash runway to last "at least into July". Will review funding options after it finds out whether it has been nominated as a new supplier by a potential new customer. Additionally, updates on its 2022 results, expecting to report pretax loss of GBP7.7 million, widening year-on-year from GBP2.0 million. Revenue is expected to fall to GBP7.5 million from GBP8.0 million. The audit of the results has been delayed, which will result in a suspension of firm's shares from Monday until the results can be published.
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Harvest Minerals Ltd, down 30% at 3.3p, 12-month range 2.75p-14.96p. The fertiliser producer with operations in Brazil says 2023 is shaping up to be a "somewhat complex year", as sales of its KP Fertil product are hit by farmers reducing purchases in anticipation of future price drops. In the first half, says new sales orders invoice and delivered total 27,000 tonnes, compared to its budget of 60,000 tonnes. Revises 2023 invoiced sales target to 120,000 tonnes from 200,000 tonnes previously. Additionally, posts 2022 annual results, swinging to pretax profit of USD472,580 from USD4.2 million loss, as revenue from fertiliser sales rises to USD8.6 million from USD4.9 million.
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By Elizabeth Winter, Alliance News senior markets reporter
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