(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Quadrise PLC, up 19% at 1.51 pence, 12-month range 0.90p-2.80p. The company signs a site license and supply agreement with Valkor Technologies LLC for the use of its MSAR and bioMSAR technology at Valkor's heavy oil asset in the US state of Utah. Commercial revenue for Quadrise could be achieved from Valkor's primary project site in August. Quadrise says this would be a "significant corporate milestone" for the company, as it would be the first commercial licence supply for its technology. The two also sign non-binding heads of agreement which sets out the basis on which Quadrise and Valkor seek to agree a conditionally exclusive sub-licence agreement for Valkor covering the state of Utah. Quadrise is a London-based developer and licensor of residual oil processing technology, producing a synthetic heavy fuel oil called MSAR.
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Futura Medical PLC, up 17% at 50.00 pence, 12-month range 27.35p-61.00p. The pharmaceutical firm says the US Food & Drug Administration granted over-the-counter sales marketing authorising for MED3000, its treatment for erectile dysfunction. Futura says that the FDA had granted the erectile dysfunction formulation as a de novo medical device. The de novo regulatory pathway is used when a product is considered "novel" by the FDA, with no similar product already on the market. Futura says that MED3000 is now legally marketed in the US as the first topical treatment for erectile dysfunction available over the counter without the need for a prescription.
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Tungsten West PLC, up 15% at 3.75 pence, 12-month range 3.00p - 33.57p. The mining company signs a deal with Oxford Sigma to explore and establish supply pathway options using tungsten for fusion energy deployment. Under the terms of the collaboration, Tungsten will work with Oxford Sigma to source raw tungsten material in the UK, with the goal of deploying these tungsten-based components across the globe. Oxford Sigma is an Oxfordshire, England-based company focused on delivering materials technology, materials solutions, and fusion design services in order to accelerate the commercialisation of fusion energy.
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AIM - LOSERS
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Ovoca Bio PLC, down 13% at 6.72 pence, 12-month range 4.36p-11.0p. The biopharmaceutical firm says that its study into Orenetide, a novel treatment for women with hypoactive sexual desire disorder, has been delayed. Ovoca says it has been informed by its retained Australian contract research organisation that, due to issues with staffing levels at the CRO, the timeline for delivery of the results of the study has been delayed. The company now expects the results to be finalized in August, as opposed to the previously anticipated time frame of June. Ovoca adds the delay does not impact the overall commitment and dedication towards advancing Orenetide research and delivering therapeutic solution to patients.
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By Heather Rydings, Alliance News senior economics reporter
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Quadrise (QED)
Futura Medical (FUM)
Tungsten west (TUN)
Ovoca Bio (OVB)