Heading towards the US opening bell and the AIM All Share is around two points lower at 752.18, tracking the main board and underperforming European indices in line with broader Eurozone economic weakness.
- Redx Pharma +32%
- Emmerson +15%
- Getech Group +12%
- Verditek -26%
- Versarien -17%
Redx Pharma LON:REDX was leading the board mid-afternoon, up 32% following the announcement that it had sold its KRAS inhibitor program. The deal is worth $10m up front, but could yield a further $870m worth of milestone payments. Given the market cap is only around £100m, on paper anyway there could be a lot more upside here…
Emmerson LON:EML was in second place, up some 15% at copy time. There’s no news here and the spread is in excess of 6% but volumes are elevated for a second day. The operational update released a week ago is more than likely priced in but could more news be coming?
Getech Group LON:GTC gets the notable mention, up 12%. News of a boardroom reshuffle was released this morning and that seems to be lending some support although volumes are thin and the spread accounts for most of the uplift.
- Small Cap Stocks: Vela Technologies, Caspian Sun, Nostra Terra
- Small Cap Stocks: Emmerson, CAP-XX, YouGov
- Small Cap Stocks: Good Energy, Distil, Corcel
Verditek LON:VDTK slipped 26% by mid afternoon, off the back of news that the company planned to dispose of its solar business in return for the surrender of CLNs issued by the business. The move would decimate the asset base of the company should the deal proceed.
Versarien LON:VRS was 17% lower after it advised the market that various unquantified legal claims had been made against the company by a former director. Again there’s a hulking spread here and clearly more news to understand in relation to the claim, but the stock has been struggling for some time. This just adds to the misery for long term holders…
