(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Solid State PLC, up 15% at 192.5 pence, 12-month range 117.5p-306p. The Worcestershire, England-based electronics supplier for the industry and defence sectors expects to report revenue of "at least" GBP124 million for the year ended March 31, as well as at least GBP4.3 million in adjusted pretax profit. Both are "ahead of consensus expectations". Says open order book stood at GBP108.5 million at March 31, up from GBP76.6 million at September 30. Systems division "experienced strong demand in defence across all of its business units" while Components "performed in line with management's expectations" and "expects to return to growth" during the current financial year. Solid State "re-iterates market expectations for the current financial year" and says it views the immediate challenges of navigating tariff policies with some confidence.
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AIM - LOSERS
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GENinCode PLC, down 38% at 1.45p, 12-month range 1.45p-9.625p. The Oxford, England-based genomic testing company focused on the prevention of cardiovascular disease updates on its US Food & Drug Administration De Novo submission. Says FDA has determined that certain outstanding elements need to be addressed, including deficiencies in relation to clinical validation. Says it has initiated a supervisory review with the FDA and is in discussions with the regulator to resolve the issues. "The board does not believe that there are any elements that it cannot address, however there can be no certainty that the information provided will be sufficient," GENinCode says. Company in late 2023 transitioned its premarket notification submission for its CARDIO inCode-Score test kit to a De Novo submission. It said clearance would "enable GENinCode to commercially advance US national distribution" of the device for risk assessment and prevention of coronary heart disease.
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Celadon Pharmaceuticals PLC, down 23% at 5p, 12-month range 3p-105p. The cannabis-based medicine-focused pharmaceutical company says it still has not received requested funds under its secured credit facility. The London-headquartered company says it is still engaging with the facility provider, but this has not resulted in any material developments. "The company continues to seek and engage with alternative providers of finance, however there can be no certainty in securing additional funding or, if successful, the timing of such funding," Celadon adds. Says however that support from creditors continues and that it believes it can trade into May.
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By Emma Curzon, Alliance News reporter
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Solid State (SOLI)
Genincode (GENI)
Celadon Pharmaceuticals (CEL)
