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SmallCap Round Up: Renalytix, Corcel, Avacta


London’s AIM Index remains on its downward trajectory, with even the below-target US inflation print failing to lend any cause for cheer. At 4pm the index was just over a point lower at 736.96.

  • GCM Resources +68%
  • Renlaytix +30%
  • Corcel +11%
  • Saietta -30%
  • Avacta Group -28%

GCM Resources LON:GCM topped the board, up 68% heading into the close. The company saw all resolutions passed by clear margins at today’s AGM. There’s hope of more business progress being made in the coming weeks but today’s uplift certainly looks healthy.

Renalytix LON:RENX was in second place ahead of the bell, up 30% off the back of more positive news from the US government over public healthcare acceptance of its therapies. We have seen gains off the back of moves like this as proving to be short lived, but the product is certainly gaining momentum in that market.

Saietta LON:SED is on the list again, with today’s 30% loss being the latest in the run lower as investors continue to head for the exits, working on the assumption that the sale process will leave little value.

Avacta Group LON:AVCT was down 28% in late trade, although that comes off the back of placing news. New capital was however raised at a 34% discount, so there’s some value seen here. Proceeds will be used to further develop an array of clinical trials.

Corcel LON:CRCL gets the notable mention, having added 11% heading towards the close. This came off the back of news that an already significant shareholder had taken an option to buy up to an additional 5.5% of the business at a 37% premium to last night’s closing price.

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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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