Energean (ENOG) shares ticked up 7.27% to 730.25p as it remains on track for $2bn target
In its 1H21 results, the firm delivered ‘excellent operational and financial progress reflective of the transformational nature of the acquisition of Edison E&P,’ Energean told investors.
Over the period, it slashed its losses in the first half to and highlighted that production is ahead of guidance. As a result, it remains on track to hit its target of $2bn annual revenue.
Evgen Pharma (EVG) shares soared 17.97% to 7.55p as it receives Orphan Drug Designation
Today, the clinical stage drug development firm was granted an Orphan Drug Designation ("OD") by the US FDA for use of the Company’s SFX-01 product to treat malignant glioma.
An OD is usually granted when there are fewer than 200,000 patients with a given disease in the US and there is a scientific rationale for potential use of the product in that condition.
Evgen announced its submission of an Orphan Drug application to the FDA in July. Dr Huw Jones, CEO of Evgen, said the designation forms part of the group’s wider strategy to access the US market and positions it well for further investigations of its lead asset in brain cancer.
Mobile Streams (MOS) shares jumped 14.89% to 0.27p as Mexican service exceeds target
The firm said its streaming service in Mexico has exceeded its August subscriber target by 250% with over 3,500 subscribers having signed up since the beginning of the month.
The mobile content and data intelligence company launched its LiveScores football 365 service in Mexico at the start of August in partnership with Quanta Media Group ("QMG").
MOS said the launch represents the next step of its developing relationship with QMG and that it is actively looking into additional markets for further product and service launches.
Based on the number of subscribers to date, the Company estimates that this service in Mexico alone should generate at least $1.5 million over 3 years in additional revenue.
Following on from the successful Mexican launch, the Company said it is in advanced discussions on launching this service in additional markets over the coming months.
ECR Minerals (ECR) shares rose 11.94% to 1.875p as its subsidiary buys new mine site
The gold exploration and development firm’s 100% owned Australian subsidiary, Mercator Gold Holdings has bought a site for a base for a mine at its Creswick prospect in Victoria.
The property, which is held over three titles, consists of 16 acres, within the 45 square kilometre Creswick license area in Victoria, Australia. The Company explained that the property will provide a base for activities across the license area as ECR advances its drilling programmes and, when appropriate, will be the site for development for the mine decline.
CEO, Craig Brown said the purchase follows recent positive progress of the drilling programme at Creswick. He said that in future, the property can be developed as a site for the decline of access to existing, and potential, vein mineralisation. Brown said he remains “enthused” by the pace of developments at Creswick, Bailieston and our other assets.
CMC Markets (CMCX) shares fell 28.57% to 299.5p as it issues profit warning to investors
Shares in the financial services firm fell after it warned investors that annual net revenues would be lower than expected, settling in a range between £250-280m. In contrast, it was little over a month ago when CMC said it expected this figure to be more than £330m.
According to Yahoo Finance, following the new forecast in CMC’s trading update, the stock was at its lowest level in more than a year, and even headed for its worst day since 2016.