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Small Cap Wrap - Chariot Oil & Gas; Tiziana Life Sciences; Advanced Oncotherapy; Silence Therapeutics and more..

IMImobile  320p  £239m (IMO.L) Trading & COVID-19 Update and Equity Placing . · Strong trading performance continued in the second half of the year with growth in all regions

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Tiziana Lifesciences  75p  £115m (AIM:TILS)

The biotechnology company focused on innovative therapeutics for inflammatory and autoimmune diseases, announced today that it has developed investigational new technology to treat COVID-19 infections, which consists of direct delivery of anti-IL-6 receptor (anti-IL-6R) monoclonal antibodies (mAbs) into the lungs using a handheld inhaler or nebulizer. Development of this novel technology is a step forward toward expediting  development of  TZLS-501, a fully-human anti-interleukin-6 receptor (anti-IL6R) monoclonal antibody (mAb) for treatment of patients infected with COVID-19 (SARS-CoV-2) coronavirus.  The Company believes the technology could also be applicable for use with other FDA approved mAbs and drugs.  The Company has submitted a provisional patent application for the delivery technology. 

Excessive production of IL-6 is regarded as a key driver of chronic inflammation and is believed to be associated with the severe lung damage commonly observed with COVID-19 infections and acute respiratory distress syndrome (ARDS). Tiziana believes TZLS-501 (anti-IL6R) combined with this newly introduced inhalation technology may rapidly inhibit inflammation in lungs and in combination with intravenous administration may deplete circulating levels of IL-6 and potentially halt progression of COVID-19-mediated lung damage and death.

Chariot Oil & Gas 2.12p  £7.8m (AIM:CHAR.)

Update on its strategic direction and response to current market uncertainty related to COVID-19 and commodity price weakness.

 · Corporate strategy to focus on monetising near term potential of the Lixus licence and maximising value for investors by developing a Moroccan gas business.

· Organisation restructured to deliver this strategy with a continued focus on capital discipline:

· Retain key skills and operational capabilities.

· Board of Directors cash reduction of fees and salaries by 50%, replaced by share awards.

· Organisational and other savings to reduce annual running costs by ca. 45%, from US$4.5 million to US$2.5 million.

· 2019 year-end unaudited cash position of US$9.6 million, no debt, no remaining work programme commitments.

IMImobile  320p  £239m (AIM:IMO)

Trading & COVID-19 Update and Equity Placing .

· Strong trading performance continued in the second half of the year with growth in all regions

· Revenue up approximately 17% to at least £167.0m (FY19: £142.7m)

o  Organic revenue growth of approximately 7%

· Adjusted EBITDA up approximately 20% to at least £21.0m (FY19: 18.0m)

· Net debt of £22.3m with gross cash converted from operations of over 90%

Whilst there has been little impact to date, the Board appreciates the global severity of the pandemic and associated prevention measures, making the short-term outlook significantly more uncertain with its ultimate effect on the business and end customers yet to materialise. Notwithstanding the current lack of material impact, management have taken rapid steps to reduce costs in order to help offset reductions in messaging volumes and delayed projects .

The Board believes that COVID-19 will have a limited impact on the business in the medium to long term due to the fundamental need for its customers to communicate and use digital channels for customer interaction.

Proposed placing to raise minimum gross proceeds of £15.0m, at a price of 300p

Velocys  2.425p  £15.6m (AIM:VLS)

Planning application update

Velocys continues to progress the planning application on behalf of Altalto Immingham Limited to de

The Company has been working closely throughout with North East Lincolnshire Council (NELC) and with all statutory consultees as part of the usual planning process. 

As part of this process, an Addendum to the Environmental Statement has now been submitted, providing additional information and technical clarifications to assist in the consideration of the application by consultees. The further information presented in the Addendum will now be subject to the usual 30-day consultation period. Alongside the existing Environmental Statement, it will form part of the formal planning application to NELC and can be viewed on the NELC website.

Naked Wines  285.5p  £208m (AIM:WINE)

“Since restrictions on social gathering began, we have seen higher levels of demand from both new and repeat customers in all of our markets, particularly in the US, and as a result we are finishing the year with good momentum and expect revenue for FY20 to be in excess of £200m, which is slightly ahead of current consensus. We have continued to invest aggressively in new customer recruitment and now expect our total investment for FY20 to be towards the middle of the £20-25m range we indicated with our interim results, with our key payback measure being above our 4x target.”

Bonhill Group  6.5p  £3.2m (LON:BONH)

The B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, announces a proposed placing to raise a minimum of £2.5 million at 5 pence per share . The net proceeds of the Placing will be used to fund the working capital requirements of the Company up to Q4 2020.

Distil  0.94p  £4.7m (AIM:DIS)

The owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva Vodka, is pleased to provide an update on trading for the final quarter of its financial year ended 31 March 2020. Unaudited Q4 (January - March 2020) volumes and revenues showed significant year-on-year growth:

· Volumes increased 80% -· Revenues increased 97%

· Investment in brand marketing increased 87%.

Recent press reports indicate a 22% year-on-year increase in UK alcohol sales during the month of March (Kantar market data, March 2020) as consumers stocked up on essentials, together with their favourite brands, in anticipation of an extended lock-down period. Sales revenue for Distil brands increased 50% year-on-year in March.

Advanced Oncotherapy 26p  £64m (LON:AVO)

Has raised £14.9m at 25p. All critical components delivered to Daresbury; funding will progress assembly and validation of first LIGHT system. Documentation work for LIGHT continues despite site closures due to COVID-19.The Company was already working to a tight deadline to bring the LIGHT System into operation by the end of 2020. It now believes that the closure of these facilities will delay this objective and first patient treatment into 2021. In the meantime, the core team of the Company has shifted to focussing on finalising the documentation required for the LIGHT System to gain regulatory approval .

Silence Therapeutics  457p  £378m (LON:SLN.L)

 The specialist  in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, today announces that it has repurposed equipment in its Berlin site to produce critical reagents for COVID-19 PCR diagnostic test kits, which are currently in short supply. We are doing this work on a cost only basis for   TIB Molbiol GmbH , based in Berlin, and believe the use of our specialist equipment will significantly increase their capacity to produce test kits on short notice and with high demand for global distribution.

Iain Ross, Executive Chairman at Silence Therapeutics, commented:  "I would like to thank our innovative scientists for coming up with this approach and our lawyers at Cooley LLP for assisting us, pro-bono, to put this agreement in place with TIB Molbio. I confirm that this initiative does not impact Silence's core business and that any funds generated from this initiative will be donated to the fight against COVID-19."

Essensys  158p  £75.8m (LON:ESYS)

£7m placing at 151p. 4.1% discount to yesterday’s close. The Company intends to use the net proceeds of the Placing to increase balance sheet liquidity and flexibility amidst the uncertainty caused by the Covid-19 pandemic and provide funds to take advantage of longer-term opportunities once this situation stabilises.

 

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