Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Itaconix profitability edges closer
AIM listed Itaconix LON:ITX which uses plant based polymers to decarbonise everyday consumer products has full year results out today. Revenues close on doubled and the use of cash reserves to cover operating costs fell to just over $200k, down from more than $2m a year ago. With the company having raised a further $12.7m since the start of the new FY and a strong pipeline of opportunities, management believe they are on track to becoming a highly profitable company – and one that will be good for the planet, too.
- Small Cap Stocks: Catenai, Genip, ValiRx
- Small Cap Stocks: Guardian Metal, MediaZest, Enwell
- Small Cap Stocks: Valirx, EnergyPathways, Merit Group
#2. BATM wins new contract in US but details of scale withheld
Networking technology specialists BATM Advanced Communications [LON:BATM] have announced a new contract win this morning in a major US state. It’s a 5 year deal but the lack of further detail could well limit the potential for any impact on the share price.
#3. ValiRx: poor sales performance in FY22, picture improving for FY23
ValiRx LON:VAL issued full year results today ahead of their AGM. The company had a poor year in terms of sales but expects revenues to improve during FY23 on the services side of the company. Whilst there’s sufficient cash to run for a further 12 months, directors are quick to point out that further funding will likely be necessary after this.
