PureTech Health (LON:PRTC ) shares ticked up 3.77% after initiating global trial
Shares in the clinical-stage biotherapeutics company ticked up during Tuesday afternoon trading. Last week, the company announced its initiation of its global, Phase 2 trial of LYT-100 (deupirfenidone) in Long COVID-19 respiratory complications and related sequelae.
The initiation follows the completion of a Phase 1 multiple ascending dose and food effect study for LYT-100, which demonstrated favourable proof-of-concept for LYT-100's tolerability and pharmacokinetic (PK) profile.
Its global, randomized, double-blind, placebo-controlled Phase 2 trial is designed to evaluate the efficacy, safety and tolerability of LYT-100 in adults with post-acute COVID-19 respiratory complications. The primary endpoint of the trial will be the six-minute walk test distance.
Secondary endpoints, including pharmacokinetics, inflammatory biomarkers, imaging and patient-reported outcomes including dyspnea and the 36-Item Short Form Health Survey, will also be evaluated.
The company outlined to investors that this study has now been initiated in both the United States and Europe, and that results are expected to be released in the second half of 2021.
Savannah Resources (AIM:SAV ) shares rose 29.17% to 3.1p as it awaits EIA documents
Shares in the diversified resources company rose during afternoon trading while the group now awaits certain environmental impact assessment (EIA) documents to be confirmed by APA in the coming weeks for the company's wholly owned Mina do Barroso lithium project.
It said the submission underlines its commitment to develop and operate Mina do Barroso in ‘a low impact, responsible and sustainable way which will bring long term social, environmental, economic and demographic benefits to stakeholders and to Portugal.’
"As prescribed by the approval process for EIAs in Portugal, we expected a request from APA for additional information and revisions to the format of our original submission following its initial review. It is a standard part of the process,” said David Archer, Savannah's CEO.
He added, “Once the EIA document's conformity has been confirmed by APA in the coming weeks it will be published by APA as part of the public consultation process.”
TruFin (AIM:TRU ) shares increased 20.00% to 45p as shares heads towards pre-pandemic value
Shares in the FinTech and banking group continue to edge their way back to their pre-pandemic worth, with the stock having increased by over 100% since June 2020.
Shares have risen steadily since the group posted a first-half revenue rise and slashed its losses during the six months ended 30 June 2020 despite the effects of the pandemic.
Revenue in the six months to June 30 was 34% higher year-on-year at £4.2m from £3.1 million while the group narrowed its losses from the 2H19 to £5.5m (2H19: £8.1m).
The company hailed its unit Playstack, its first foray into the mobile game lending space. The company wrote at the time that it expects "significant growth in 2020" from Playstack due to the increased levels of demand for gaming as a result of people having to stay at home.
The group described Playstack as its entry point into this ‘highly attractive growth market’. Looking into 2H20, the group said Playstack had signed two significant contracts with global technology platforms, underpinning ‘potentially significant growth’ in the second half of 2020.
The Board said these contracts mean the company is likely to deliver full year revenue ahead of market expectations. ‘This, in combination with tight cost control, means we also expect the net loss for the full year to be lower than market expectations,’ the company told investors.
Northbridge Industrial Services (LON:NBI ) shares ticked up 7.19% to 91.5p as it continues to recover from pandemic
Northbridge outlined that whilst the impact of the ongoing COVID-19 pandemic is waning as the year progressed, trading during 2Q20 were ‘severely affected’.
However, the industrial services and rental firm said it has seen some stability returning to the markets during 3Q20, with ‘good progress towards normality’ in 4Q20 to date.
‘This is especially noticeable at Crestchic, the company’s power reliability business, where routine testing has been buoyant and two large rental projects, in leisure and utility power support in Europe and the USA, were undertaken,’ the company highlighted to investors.
Northbridge said there is a renewed sense of urgency from national governments to move quickly to a sustainable Net Zero Carbon by 2050, and this has been enhanced by plans to "build back greener" following Covid-19 and a rising focus and regulation on ESG measures.
The company said Crestchic's reliance on customers from the oil and gas industry has decreased ‘naturally over the past five years’ while growth across its power reliability markets in advanced economies continues and new services are also added to its portfolio.
Overall, the Board confidently expects the Group to be profitable for the full year, before exceptional costs, with Tasman trading ahead of 2019 and expects to start 2021 with a record new-year order book for the sale of loadbanks and a backlog of enquiries for rental projects.
‘A substantial proportion of the future capital investment of Northbridge is now targeted towards increasing revenue in these high growth markets related to power reliability where there are longer-term opportunities with higher returns on capital,’ the statement added.
Energean (LON:ENOG ) shares fell by 9.49% to 710.05p but remains in talks to buy remaining EIL Stake
The group announced yesterday that it has entered into an exclusivity arrangement with an affiliate of Kerogen Capital yesterday regarding a potential acquisition of Kerogen's 30% shareholding in Energean Israel.
On 7 December 2020, Energean and Kerogen entered into an agreement granting a 30-day period of exclusivity for the purposes of negotiating the Potential Transaction.
The company said that if an agreement can be reached on the Potential Transaction, Energean's shareholding in Energean Israel Limited will increase from 70% to 100%.
“Energean’s board remains committed to its strategy of delivering long-term sustainable cash flows that underpin our goal of paying a sustainable and meaningful dividend” it said.