Poolbeg Pharma shot up 55 per cent this week to 6.8p after it was granted US patents protecting two key assets.
The assets are POLB 001, a potential flu treatment, and POLB 002, a nasal spray for virus infections.
‘The additional US patent protection of POLB 001 and POLB 002 is an important step in the commercialisation of these novel infectious disease products,’ said Poolbeg chief executive, Jeremy Skillington.
Struggling doorstep lender Morses Clun hit the skids again after it delayed its full-year results
Elsewhere in the medical sector, Angle saw its shares soar after the US Food and Drug Administration approved a blood diagnostics device developed by the AIM-listed company that can identify metastatic breast cancer in patients.
UK-based biotech company Angle’s Parsortix technology is the first product ever to be cleared by US regulators that harvests cancer cells from a blood sample.
Later in the week, the company highlighted new research that indicates its Parsortix harvesting technology captured circulating lung cancer cells in frozen as well as fresh blood samples.
Italy’s National Cancer Institute of Milan undertook a study on advanced non-small cell lung cancer (NSCLC) and sarcoma patients with the results published in the Clinical Chemistry journal.
It was by any measure a good week for the liquid biopsy specialist, which saw its share rise 45 per cent to 143.5p.
On to the software sector and Pelatro, which describes itself as a precision marketing software specialist; its shares were up precisely 38.7 per cent on the week after the company slashed its full-year adjusted loss to half a cent from 5.5 cents in 2020.
The loss before tax narrowed to US$666,000 from £2.1million the year before.
SEED Innovations said its portfolio company Fralis LLC, trading as Leap Gaming, has been granted a content supply license by the UK Gaming Commission (UKGC).
SEED, the AIM-quoted investor with a focus on medical cannabis, health and wellbeing, has roughly £4.7million invested in Leap, representing 43.75 per cent of the Israeli company.
‘We feel this key milestone was critical before any liquidity event for Leap’s shareholders,’ said Ed McDermott, the chief executive of SEED.
Newmark Security, a provider of electronic and physical security systems, hit the comeback trail with its year-end trading update.
‘We are delivering on our targets for revenue growth and cost management initiatives whilst focusing on our new product pipeline that provides us with the ability to offer complete solutions to our clients continuously,’ said Maurice Dwek, the chair of Newmark.
The company’s shares rose 27 per cent on the week to 37.5p after the company confirmed year-on-year revenue growth in the year to the end of April 2022. The shares are now close to the 41p level they were at in January before the shares fell off a clip following the half-year results.
In the ever excitable resources sector, Cornish Metals Inc jumped 29 per cent to 23.75p after it closed its previously announced £40.5million fundraising.
‘The completion of this financing allows Cornish Metals to push ahead with the dewatering of the mine and delivery of a feasibility study in order to make a production decision for the South Crofty tin project,’ said Cornish Metals chief executive Richard Williams.
The top faller this week was Randall & Quilter Investment Holdings, which plunged 31 per cent to 89p after a proposed £482million takeover and $100million fundraising hit the buffers.
The group said it had received a letter from proposed acquirer Brickell – controlled by Miami-based investment group 777 Partners – alleging that it was in breach of certain obligations under the terms of the deal.
As a result, Brickell said it was exercising its right to terminate the offer immediately. Randall said it did not agree it had breached the terms or that Brickell could make that move.
Brickell owns 23.2 per cent of Randall but only controls voting rights over 9.9 per cent but that is still enough to cause problems if Brickell votes against the insurance group’s proposed equity fundraising.
DCD Media lost 30 per cent of its value after it announced plans to delist. This was on the cards after the company sold the bulk of its businesses and assets to 108 Media late last year.
Morses Club, the struggling doorstep lender, hit the skids again after it said its full-year results, which had been scheduled for release this month, will now be announced no later than 26 August 2022.
The company gave no reason for the delay and as usual, the market suspected the worst.