Sanne Group (SNN) shares ticked up 6.66% to 612.5p as profits rise
Shares in the alternative asset and corporate services provider jumped on Friday afternoon after the company reported a 16% increase in profit for the year ended 31 December 2020.
Profits for the annual period were up 16% to £45m following an 8% increase in revenue to £170m while the group upped its dividend in 2020, raising it by 4.3% to 14.7p per share.
Looking ahead, the company told investors that continued high demand for private asset alternatives, as well as the strengths of the Sanne business model, platform and expertise, has given the Board confidence in the Group's medium and long-term prospects.
Futura Medical (FUM) shares soar 113.89% to 38.5p after receiving EU clearance
Shares in the pharmaceutical firm soared over 100% today after it told investors that the EU notified body is to certify the group’s MED3000 gel as a Class 2B approved medical device.
Once this certificate is received from the EU, Futura's topical gel formulation MED3000, which it describes as ‘breakthrough’, will become the first pan-European topical treatment for erectile dysfunction ("ED") available without the need of a doctor's prescription.
Once EU certification and the resultant CE mark is granted, Futura said this will pave the way for rapid global approval, particularly in regions such as the Middle East, Africa, the Far East and Latin America, who allow "fast-track" review based on their recognition of the EU CE mark.
Futura said MED3000 has the potential to be a highly differentiated product by addressing significant unmet needs across all patient severities in the $5.6bn global ED market, as well as to become the first globally available, clinically proven, over the counter ED treatments.
Braveheart Investment Group (BRH) shares rise 26.55% to 71.5p while its COVID-19 pipeline went 'fully operational' earlier this month
The group informed investors earlier this month that the clinical sample pipeline for the COVID-19 test developed by its investee group, Paraytec, is now fully operational.
Samples are processed and subjected to analysis using Paraytec's photonics-based detection system. The average time to acquire results is less than 120 seconds, a market-leading value.
The lab trials data confirm the performance of this photonics-based test in identifying patients with an infectious viral load within the acceptable range specified by regulatory authorities.
Trevor Brown, CEO of Braveheart said the results show that the Paraytec technology “is capable of being market leading.” He said the Group’s attention will now turn towards commencing the final trial and commercialising the product either with itself or a partner.
The platform will be developed to test for new viruses and variants of COVID-19 while the Paraytec team is also exploring its use for rapid detection and identification of bacterial and viral pathogens present in patients with sepsis which kills over 11 million people per year.
ReNeuron Group (RENE) shares jump 17.05% to 127p as it unveils new collaborations
The group told investors that it has made ‘positive progress’ after unveiling a string of new collaboration agreements and emerging data on the group’s exosome technology platform.
The UK-based cell-based therapeutics developer is exploring multiple methods of loading exosomes both internally and on the exosome surface and told investors that it is collaborating with major pharmaceutical/biotechnology companies on these projects.
If the further data collected across these ongoing collaborations, which are expected to be received during the course of the next six months which, is positive, this will enable the company to secure subsequent potential out-licensing deals for its exosome platform.
The group has initiated two further collaborations with academic institutions in the UK and mainland Europe. The work in these collaborations aims to consolidate previous findings which could lead to further studies examining functional delivery of the loaded exosomes.
Investec (INVP) shares fell 7.83% to 213.05p as profit expected to fall by 20-29%
Shares in the specialist bank and asset manager fell today after it reported that underlying from continuing operations for FY2021 is expected to be 20% - 29% behind the prior year.
It said the year-on-year performance was impacted by lower interest rates, elevated costs related to the hedging of its UK structured products book as guided in November, reduced client activity and a c.14% depreciation of the average Rand against Pound Sterling.
More widely, the group said its operating results for the year ending 31 March 2021 are expected to be in line with the guidance released in its interim results in November 2020.
CEO, Fani Titi, said Investec is “encouraged” by continued momentum across the business. He added that while the general outlook is improving, that the long-term impact of COVID-19 remains uncertain. The group did not offer any guidance beyond the current year.