AIM WINNERS & LOSERS: Deltex to cancel "onerous" AIM listing

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.

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AIM - WINNERS

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Celadon Pharmaceuticals PLC, more than doubled at 36 pence, 12-month range 12.5p-117.5p. The cannabis-based medicine-focused pharmaceutical company confirms that its strategic collaboration with Danish pharmaceutical firm Valeous Pharma AS, announced in September, is now actively contributing to its operations. It expects the agreement to provide up to three tonnes of annual cultivation capacity from Valeous's EU-GMP facility. Says this capacity supports its ability to fulfil its commitments under a German medical cannabis supply contract announced in mid-November. The Valeous deal enables it to accelerate the supply of pharmaceutical-grade EU-GMP cannabis. London-based Celadon expects the German contract to generate up to GBP26 million in revenue over its three-year term or GBP8.7 million per year.

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Cambridge Nutritional Sciences PLC, up 27% at 3.75p, 12-month range 2.4p-4.35p. The London-based medical diagnostics company's subsidiary Omega Diagnostics Ltd "has settled its long-running dispute with the [UK] Secretary of State for Health & Social Care", or DHSC. CNSL says that Littleport, England-based Omega has agreed settlement with the government department on a 'drop hands' basis with no admission of liability. DHSC will not pursue its claim regarding reimbursement of pre-production payments. Omega meanwhile will not pursue its claims relating to "additional losses arising from DHSC's failure to place orders for LFTs". Each party bears its own legal costs which Cambridge Nutritional Sciences expects to total GBP200,000 for Omega.

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AIM - LOSERS

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Deltex Medical Group PLC, down 56% at 0.035p, 12-month range 0.035p-0.17p. The Chichester, England-based medical equipment supplier announces plan to cancel its AIM listing as its "cost base remains too high" and the regulatory environment is "onerous". Chief Executive Officer Andy Mears intends to step down "to pursue other opportunities". Deltex says Finance Director Natalie Wettler will succeed Mears as CEO once the cancellation from AIM has taken effect, at which point Mears will leave the company. Meanwhile, Deltex says it made good progress in 2024, noting that revenue increased by around 17% on-year to GBP2.1 million from GBP1.8 million. Adds that its TrueVue monitor "was promoted aggressively - both in the UK and internationally - and revenues from this new product are beginning to grow". Also says it has "optimised" the manufacturing processes associated with the TrueVue monitor, and that Deltex's competitive backdrop "also appears to be improving" due to "accumulating evidence" that competing systems "do not provide clinicians with the critical data that they need to optimise patients' haemodynamic status".

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By Emma Curzon, Alliance News reporter

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