Motif Bio PLC (LON:MTFB) has received a US Department of Defense grant for clinical research into its antibiotic iclaprim, which will be carried out by the research institute that provides biomedical research for the US army. The US government grant is part of the Military Infectious Diseases research program to evaluate the potential of using drug-device combinations for wound care and to prevent and treat wound infections on the battlefield.
Midatech Pharma PLC’s (LON:MTPH) (NASDAQ:MTP) treatment being developed to combat a rare and aggressive childhood cancer has received orphan drug designation. The US Food & Drug Administration grants this status to discoveries that target rare diseases affecting fewer than 200,000 US patients annually where there is an unmet need. There are benefits to being singled out in this way, including accelerated approval, extended exclusivity after approval, the waiver of certain administrative fees and potential tax credits.
Vast Resources PLC (LON:VAST) has inked documentation for a new US$13.5mln financing arrangement which is set to cover the costs of reaching production at the both the Baita Plai mine in Romania and the Chiadzwa diamond project in Zimbabwe. A UK based fund, Atlas Capital Markets, is to be issued US$15mln of secured convertible bonds issued at 90% of par, and, carrying 5% interest per year. The bonds mature two years after issuance.
Eurasia Mining PLC (LON:EUA) shares soared Thursday after the miner revealed investment banks VTB Capital and CITIC Group will assist with “strategic options” for its Kola and Urals mining assets In a statement, the company said the two lenders will work on a success fee basis, meaning they are required to complete an alternative asset transaction superior to the proposals announced last month.
Greatland Gold PLC (LON:GGP) has reported more impressive results from its Haveiron project in Western Australia. In one hole drilled by partner Newcrest, the mineralisation extended for 94 metres (m) at a grade of 4.5 grammes per tonne (g/t) with 45m at 7.1 g/t in another. Greatland added that the latest results have extended the area of mineralisation to the north and at depth, with gold indications now being seen down to 950m.
Crossword Cybersecurity PLC (LON:CCS) has agreed to raise £1mln in loans to boost working capital and provided an update on trading following an increase in software-as-a-service (SaaS) contracts. After winning more SaaS contracts and with more in the pipeline, the cyber security and risk specialist recently carried out a review of its revenue recognition practices.
MaxCyte Inc (LON: MXCT) said it was making “significant progress” with an early-stage cancer drug developed using its CARMA technology. MCY-M11 is currently in phase I clinical trials in people with difficult-to-treat ovarian cancer and peritoneal mesothelioma, which affects the abdomen lining. The objective of a study of this kind is to assess whether the drug is safe and well-tolerated.
Itaconix PLC (LON:ITX) has expanded its existing global supply agreement with FTSE 100 chemicals company Croda International Plc (LON:CRDA). The polymers specialist will receive a US$60,000 milestone payment from Croda in exchange for adding ZINDOR 35L, a water-soluble odour neutraliser, to the ZINADOR 22L product line that it already supplies to the group.
Jubilee Metals Group PLC (LON:JLP) has announced an agreement with Hernic Ferrochrome Pty Ltd, one of the world’s largest ferrochrome producers, to acquire 100% of the rights to earnings from the current and future tailings produced at the Hernic Project in South Africa. Previously, the AIM-listed firm had rights to all platinum group metals (PGM) earnings from the tailings until it received a 30% return on investment, while Hernic received the rest.
C4X Discovery Holdings plc (LON:C4XD) has raised around £6.6mln to strengthen its balance sheet amid ongoing licensing discussions for its early-stage drug candidates. The fundraising saw a total of 46,466,667 shares placed by Panmure Gordon today at a price of 15p each, raising a total of approximately £7.0mln for the company before expenses, while, concurrent with the placing, directors of the company subscribed for 200,000 shares also at the issue price.
PCF Group Plc (LON:PCF) has said growth in its lending portfolio was ahead of plan in the financial year just ended. The specialist bank saw its lending portfolio grow to £338mln by the end of September, up 54% from £219mln a year earlier, and well on the way to the group’s £350mln target, a year ahead of plan.
Scotgold Resources Limited (LON:SGZ) has restructured its mining permits over an area of 800sq km in the Grampian region of Scotland. Subsidiary SGZ Grampian has applied for and been granted 13 new option areas with the original agreements over the acreage now surrendered. Scotgold said this arrangement has the benefit of a new 6-year term for the permits with synchronised reporting so exploration programs can be optimised on a regional basis.
Eco Atlantic Oil & Gas Ltd (LON:ECO) (CVE:EOG) has told investors that alongside partners Tullow Oil plc (LON:TLW) and France’s Total SA the company is reviewing the forward drilling strategy in Guyana following back-to-back discoveries in the Jethro-Lobe and Joe wells. Tullow, the operator, is presently preparing a budget for long lead items. The partners continue to evaluate well data and will be considering the next possible well locations. The company noted that it will be covering its 15% working interest in the Orinduik exploration project via its existing cash resources
Feedback PLC (LON:FDBK) has reported a 23% rise in full-year revenues as its product lines continue to grow. For the 12 months ended 31 May, the medical imaging specialist saw its revenue increase to £563,092 from £458,389, with 40% of turnover attributable to one customer.
Remote Monitored Systems PLC (LON:RMS) subsidiary GyroMetric Systems has launched its Absolute Dynamic Shaft Alignment (ADSA) system for the monitoring of rotating machinery. RMS, which has a 58% stake in Gyrometric, said ADSA is the first system capable of performing initial absolute alignment as well as continuous dynamic (i.e. while operating) monitoring of the relative alignment of rotating machinery.
Base Resources Limited (LON:BSE) (ASX:BSE) highlighted a successful ramp-up of mining and processing operations as it released an activities update for the three months ended 30 September. The company noted that its Kwale mineral sands operations in Kenya advanced at the South Dune orebody following a transition from a depleted orebody, Central Dune, at the end of June. As scheduled, mining began on the northern fringes of South Dune and, although they started in lower grades this improved throughout the quarter as operations moved further into the orebody.
Gfinity PLC’s (LON:GFIN) arena in London has played host to the final episode of the second season of The Esports Report, a six-episode video game news show sponsored by Omen, the gaming arm of computing giant Hewlett Packard Enterprise Co (NYSE:HPE). The report features a blend of news, views, industry insights and competitive gaming in action.
Europa Metals Ltd (LON:EUZ), the European focused lead, zinc and silver developer, said it has received notices of exercise in respect of certain pre-existing warrants to subscribe for 166,666,666 new ordinary shares at a price of 0.025p per share. In aggregate, the group said, the exercise of these warrants amounts to a cash subscription of approximately £41,667.
Open Orphan Plc (LON:ORPH), a European-focused, rare and orphan drug consulting services platform, announced that the company’s Chief Commercial Officer, Maurice Treacy, will be hosting a webinar alongside Value the Markets on Wednesday 30th October 2019 at 7:00pm (UK time). The group said Treacy will take the opportunity to update existing and potential shareholders on Open Orphan and will provide an insight on the Company’s Genomic Health Data platform. The webinar will be available through webcast or dial-in facilities via Webcast URL Link.
discoverIE Group PLC (LON:DSCV) has made a “high-margin, strategically relevant acquisition” with its purchase of sensing and data module maker Sens-Tech, according to analysts at Jefferies as they upgraded their target price on the firm to 540p from 500p. In a note on Thursday, the US broker, which rates the custom electronics maker at ‘buy’, said the £58mln acquisition would provide “further growth opportunities in structurally attractive target markets” as well as increasing the diversity of its business model.
BlueJay Mining PLC (LON:JAY) is expected to have a “bright future” for its Dundas titanium project in Greenland, according to First Berlin Equity Research GmbH which has started coverage on the stock with a ‘buy’ recommendation and 21.8p price target.