(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM WINNERS
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CPPGroup, up 46% at 478.00 pence. The insurance and financial services company said earnings for 2020 are expected to surpass market consensus, with the firm expecting 2020 earnings before interest, tax, depreciation, and amortization of between GBP7.1 million to GBP7.3 million, ahead of market forecasts of GBP6.4 million.
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Faron Pharmaceuticals, up 22% at 337.56 pence. The biopharmaceutical said the US Department of Defense has chosen the HIBISCUS Study to receive USD6.1 million of funding from the Coronavirus Aid, Relief & Economic Security Act. The phase II/III HIBISCUS trial will assess Traumakine, Faron's IV IFN beta-1a, for the treatment of hospitalised Covid-19 patients in the US.
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Mosman Oil & Gas, up 22% at 0.214 pence. The Australia and US-focused oil and gas explorer confirmed the completion of the sale of the Welch Project, in Texas, for USD420,000.
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Augean, up 10% at 206.25 pence. The waste management company said it expects to report an adjusted pretax profit for 2020 at least in line with the year before, despite the decline of its North Sea business and the ongoing Covid-19 pandemic. In 2019, Augean's adjusted pretax profit was GBP19.2 million.
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AIM LOSERS
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Velocys, down 26% at 7.64 pence. The sustainable fuels technology company said Shell International Petroleum has withdrawn from the Altalto Joint Development agreement. Velocys and British Airways will continue to work to secure finance for the Altalto Immingham plant, and will continue talks with potential finance sources.
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SEC Newgate, down 12% at 42.50 pence. The public relations firm said its two largest UK agencies, SEC Newgate UK - Newgate Communications - and Newington Communications, will merge and rebrand as SEC Newgate UK. As part of this, SEC Newgate will increase its stake in Newington to 100% from 60%, paying GBP420,799 for the 40% minority stake it did not already own.
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Remote Monitored Systems, down 8.7% at 2.74 pence. The data collection and surveying firm said the last test for its 4-ply mask, the biocompatibility test, has been delayed and is now expected to be completed in the next week. The mask manufacturing machine arrived from Lemu, as expected, and has been installed in Nottingham's BioCity, with work beginning this week to commission the machine and commence production.
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By Lucy Heming;Â lucyheming@alliancenews.com
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Cppgroup (CPP)
Mosman Oil Gas (MSMN)
Faron Pharma (FARN)