(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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ValiRx PLC, up 24% at 12.27 pence, 12-month range 5.10p-15.91p. The life science company says it has entered into an option to license VAL401, primarily used for pancreatic cancer, with pharmaceutical company Ambrose Healthcare Ltd. ValiRx adds: "Under the option agreement, Ambrose Healthcare has a 12-month period of exclusivity under which it may exercise the option to execute a global, exclusive license of Valiseek's VAL401 asset under pre-agreed terms. ValiSeek has received an undisclosed, small fee, settled through the issue of shares in Ambrose Healthcare. Subject to the exercise of the Option by Ambrose Healthcare, the agreement details clinical and commercial milestone payments to be made to ValiSeek totalling a value of up to GBP16 million plus royalties."
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AIM - LOSERS
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tinyBuild Inc, down 26% at 4.52p, 12-month range 4.26p-117.46p. The video games publisher says it is currently trading below expectations in its fourth quarter, amid an "unusually weak" October. It also said it agreed to settle a litigation, forking out USD3.5 million. tinyBuild now expects 2023 revenue between USD40 and USD50 million, at best a 4.1% decline from the USD52.2 million it achieved in 2022. As part of legal settlement, tinyBuild has agreed to pay claimants, including the founder of recently-acquired Versus Evil, USD3.5 million in cash, in addition to legal costs. Steve Escalante, as well as two other claimants, alleged tinyBuild "breached three material obligations", including not providing Versus Evil with "timely capital contributions" in the 2022 and 2023 financial years. Finally, tinyBuild CEO Alex Nichiporchik has shown a "willingness" to underwrite a future equity fundraise of up to USD10 million, the firm says.
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Quiz PLC, down 18% at 5.75p, 12-month range 4.58p-18.50p. The retailer reports weaker half-year results and says Non-Executive Chair Peter Cowgill will lead a strategic review of the firm. Revenue in the six months to September 30 falls 14% to GBP42.3 million from GBP49.4 million. It swings to a pretax loss of GBP1.5 million from profit of GBP1.8 million.
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By Eric Cunha, Alliance News news editor
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Tinybuild Inc (TBLD)
Quiz (QUIZ)
ValiRx (VAL)