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AIM round-up: Evgen Pharma, Intercede, Helium One


London’s AIM Index remains very much on the back foot, starting the week with another day of losses and reaching the bell just over 10 points down at 800 exactly.

  • Evgen Pharma +149%
  • Intercede Group +43%
  • Helium One +13%
  • Europa Oil & Gas -42%
  • Autins Group -36%

Evgen Pharma LON:EVG attained double bagger status today in the wake of news it had signed a licensing deal that could be worth as much as $160m. Shares had advanced 149% by the bell, but payments are largely reliant on a series milestones being reached, which goes some way to explain why the market cap is still less than £20m.

Intercede Group LON:IGP was in second place, up 43% by the bell. An interim trading update gave away few clues but news of an acquisition seems to have sparked some interest. Volumes were sharply elevated and the spread remained comparatively tight, especially given the relative size of the company.

Helium One LON:HE1 gets the notable mention, having advanced 13% off the back of news that it had completed a rig audit. This has certified kit in Tanzania as ready for use, with the next challenge being ensuring that the company can now get the relevant approvals for export.

Europa Oil & Gas LON:EOG was the day’s laggard, off some 42% at the close. The petrochemicals explorer announced this morning that its latest well had returned negative results and this saw the stock tumble to levels not seen since the start of the year. Management clearly attempted to highlight the positives in the update but many investors were evidently keen to sell up.

Autins Group LON:AUTG, the specialists in acoustic insulation, also struggled finishing some 36% down on the day. A full year trading update highlighted a slowdown in the Q4 sales rate, owing to product availability issues. Action is being taken to reduce costs and improve profitability, helping to trim losses. Encouragingly, the net debt position is improved from a year ago.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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