(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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GENinCode PLC, up 67% at 12.92 pence, 12-month range 6.5p-34.95p. The cardiovascular disease-focused predictive genetics company wins licensing approval in California state, as well CLIA certification for its Irvine laboratory in California. This allows its risk assessment products for CVD to be provided to patients in 49 US states. The approval is a "major milestone" in the commercialisation of its polygenic CVD products, CARDIO inCode and LIPID inCode, the firm says.
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Challenger Energy Group PLC, up 11% at 0.10p, 12-month range 0.07p-0.69p. The Caribbean and Americas-focused oil and gas firm notes developments in Uragua, with global oil and gas majors, including Shell PLC, being awarded offshore blocks in proximity to Challenger's Area OFF-1 block. The firm considers the entry of major players into Uruguay, and their commitments to undertake "sizeable and meaningful work programs in the near-term" validates its decision to enter the country in 2020. The developments also "[underscore] the solid technical foundation and excellent value proposition represented by the AREA OFF-1 block," Challenger says. The commitments from oil majors includes 3D seismic acquisition and new well drilling.
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AIM - LOSERS
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Bidstack Group PLC, down 28% at 2.01p, 12-month range 1.8p-6.2p. The in-game advertising platform says Azerion Group NV has decided to terminate its media sales partnership, amid a legal dispute over overdue sums Bidstack maintains are due from Azerion. "Bidstack has taken appropriate external legal advice and has concluded that Azerion has no present entitlement to end the agreement," firm says. Bidstack says it intends to claim damages for unlawful termination.
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Helium One Global Ltd, down 27% at 5.2p, 12-month change 4.96p-15.5p. The Tanzania-focused helium exploration company says the Exalo drill rig in southern Africa will be unable to be mobilised for its Rukwa licence in early 2023. This is due to an extension of the current operator's contract, for a period of "up to twelve months". "The company is reviewing a number of alternative rig options for Phase II Tanzania drilling operations and will announce an updated timeline to drilling once new arrangements have been confirmed," the firm said. CEO David Minchin calls the development "disappointing and frustrating".
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By Elizabeth Winter, Alliance News senior markets reporter
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Genincode (GENI)
Challenger Energy (CEG)
Shell (SHEL)
Helium One (HE1)