The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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ImmuPharma PLC - specialist drug discovery and development company - Pretax loss in the first half of 2022 narrows to £1.8 million from $3.9 million. Records exceptional costs of £846,792 in the prior period. Administrative expenses fall to £555,600 from £913,516. Records no revenue, down from £23,531. Notes that there is minimal revenue, as business activity is concerned with ‘significant investment in the form of clinical development expenditure,’ in addition to maintaining the infrastructure of the company. Says Avion Pharmaceuticals LLC, its US partner for Lupuzor, had received a written response from the US Food & Drug Administration to the type C meeting. Says the FDA made additional recommendations on clinical measurements to support Lupuzor through the regulatory process to approval.
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MetalNRG PLC - London-based investor in natural resources and energy - In the six months to June 30, pretax loss widens to £999,949 from £890,354 a year ago. Administrative expenses widen to £999,949 from £642,837. Registers no revenue, down from £38,422 a year before. Notes good progress has been made to date.
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Mercantile Ports & Logistics Ltd - Indian port and logistics facility developer and operator - Pretax loss in the six months to June 30 widens £6.5 million from £3.4 million, year-on-year. Operating costs multiply to £850,000 from £84,000. Administrative expenses more than double to £4.5 million from £2.2 million. Revenue jumps to £1.9 million from £850,000. ‘2022 has seen the first full nine months of uninterrupted operations at MPL’s Karanja facility and our business model has started to prove itself,’ Executive Chair Jeremy Warner Allen explains.
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Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - In the six months to June 30 widens to £16.0 million from £12.8 million a year before. Administrative expenses rise to £13.5 million from £11.0 million. Records no revenue, unchanged from a year before.
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Alpha Growth PLC - London-based financial advisory specialising in ’longevity assets’ such as life insurance - In the first half of 2022, pretax loss widens to £454,635 from £323,835 a year before. Revenue rises to £1.5 million from £1.2 million. Credits its continued investment for revenue growth. Looks forward to shortly integrating its Guernsey acquisition. Plans to advance its build and buy strategy to ensure continued and substantive ongoing growth of the business.
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Ince Group PLC - London-based legal, accounting, financial services, consulting and pensions advice services, formerly known as Gordon Dadds - Expects its interim results for the period to September 30, not improve on the same period in the prior year on a like-for-like basis. Expects revenue in the year to March 31 to be roughly £97 million as previously announced. Currently has cash of roughly £3.5 million and net debt of around £15 million. ‘The group continues to undergo a period of renewal supported by an excellent team of partners and clients. Together we are committed to providing a strong platform for future success, most of the components for which are already in place,’ Chief Executive Donald Brown says.
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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Signs a variation to Billingham land purchase agreement. It relates to the purchase by Haverton WTV from Scott Bros of the land on which a proposed, up to 25-megawatt electric waste gasification and power plant are going to be constructed. In addition to the amended terms set out below and pursuant to the variation, the parties will seek agreement on the segregation of the land ownership from the project SPV to broaden funding and sale options of the project. ‘Our intention to separate the land ownership from the project will further lend to the optionality for investors, supporting pace toward funding and financial close,’ Chief Executive David Palumbo comments.
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Polarean Imaging PLC - London-based medical‑imaging technology - Says the US FDA has granted a 90-day extension to the review timeline to December 30 for its new drug application using hyperpolarised xenon-129 gas to enhance magnetic resonance. The FDA will conduct periodic meetings during the extended review period to ensure that any questions that arise during the remaining review can be rapidly addressed to provide the best chance at a positive review decision by the extended date, it says.
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