(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Hutchmed China Ltd, up 9.0% at 231.00 pence, 12-month range 185.50p-353.00p. The Hong Kong-based biopharmaceutical firm said it has now completed the enrolment of the registration phase of its phase 2 trial of savolitinib in gastric cancer patients. The trial intends to evaluate the efficacy, safety and tolerability of savolitinib in treating gastric cancer or gastroesophageal junction adenocarcinoma patients with MET amplification. A total of 64 patients have been enrolled in the study. MET-driven gastric cancer currently has a "very poor" prognosis, Hutchmed notes, with the condition estimated to account for around 4% to 6% of all gastric cancer patients. Interim results from the study have shown a 45% objective response rate and a 50% objective response rate in patients with high MET gene copy number. The 4-month duration of response rate was 85.7% with a median follow up time of 5.5 months. China's National Medical Products Administration previously granted savolitinib with breakthrough therapy designation. If results are positive, Hutchmed said it may apply for marketing authorisation for savolitinib for gastric cancer in China in late 2025.
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AIM - LOSERS
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Oracle Power PLC, down 26% at 0.017p, 12-month range 0.012p-0.075p. The Australia and Pakistan-focused minerals and power projects developer said it has raised gross proceeds of GBP318,600 through a placing of 1.77 billion new shares at 0.018 pence each. The funds will be used to progress the development of its projects and for general working capital purposes.
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Celebrus Technologies PLC, down 19% at 170.00p, 12-month range 163.00p-316.00p. Expects revenue for the financial year that ended March 31 to be behind expectations, at around USD38.6 million against USD40.9 million the year before. Celebrus cited a prior company-compiled market consensus of USD43.4 million. This is the result of "some slowing down of customer decision making" in its second half, "reflecting the increasingly uncertain global geopolitical situation". Adjusted pretax profit, on the other hand, is anticipated ahead of expectations at around USD8.7 million, which would be up 14% on-year from USD7.6 million. It cited a previous market consensus of USD8.5 million. The upgrade is due to "continued growth in higher margin software revenues as well as tight management of the cost base", says Celebrus. The firm also intends to move to a monthly software licence recognition, as part of an accounting policy review.
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By Emily Parsons, Alliance News reporter
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Oracle Power (ORCP)
Celebrus Tech (CLBS)
Hutchmed (HCM)
