At 3.30pm, the AIM Index was trading at 730.59, down almost four points. Although downside pressures have been in play throughout the session, that collapse in US consumer confidence understandably did little to lift sentiment. October can be an unkind month for equities – will 2023 be another vintage?
- Oxford Biodynamics +144%
- Fusion Antibodies +19%
- EQTEC +13%
- Bowleven -53%
- Tinybuild -43%
Oxford Biodynamics LON:OBD was the clear winner at 3.30pm today, having added 139%. The company this morning announced the immediate launch of a prostate testing kit in the UK and US, which boosts predictive accuracy from 55% to 94%. The levels of accuracy are said to be unprecedented and mitigate the need for unnecessary invasive biopsies.
Fusion Antibodies LON:FAB added 19% on the day, finding itself in second place at copy time. This is the second trading day out of three where elevated levels of volumes had been seen. There’s no official news out but the stock is now sitting around one month highs.
EQTEC LON:EQT gets the notable mention, up 13% at 3.30pm. The company advised that it had successfully completed a feasibility study, which would lead to fee income of around EUR750k in the coming months.
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Bowleven LON:BLVN was at the foot of the board, down 53% in the wake of a corporate update. Cash is running tight and a scheduled disposal of a subsidiary interest is taking a long time to complete, meaning that other funding opportunities are being explored, possibly including a deeply discounted equity offer.
Tinybuild LON:TBLD sat 43% lower at copy time, with half year results showing a 19% drop in revenues and a slew of other negative headline prints. There’s concern that ongoing macroeconomic uncertainty will continue to weigh on near term growth potential, but the company is confident that recently reset expectations are now achievable.
