The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Marlowe PLC, up 14% at 673 pence, 12-month range 576p-578p. The software & service provider for safety and regulatory compliance’s stock rises amid reports about a potential division sale. Sky News reports the firm is in talks with investment bankers at Rothschild & Co about a potential sale of its testing, inspection and certification division, which is under a strategic review. The division constitutes the bulk of the firm’s revenue. According to recent transactions in the sector cited by Sky, a sale of the unit could generate a valuation of up to 16 times its full year profit, amounting to an estimated £650 million.
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Genedrive PLC, up 7.3% at 18.5p, 12-month range 8p-48.86p The molecular diagnostics company wins a multi-partner grant for the validation of its CYP2X19 ID kit from Innovate UK and the UK government Innovation Accelerator programme. Says the ’Devote’ grant will allow it to offer critical clinical tests in the UK’s National Health Service settings. Chief Executive David Budd says: ‘Devote is an amazing opportunity to engage formally with a health system like the NHS to demonstrate the effectiveness of a new diagnostic approach. Access to the Acute Medicine Unit in real time has considerable value to Genedrive as further funding would allow us to progress ongoing product development quickly and efficiently, and would support the pathway to clinical validation of our Genedrive CYP2C19 ID kit.’
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AIM - LOSERS
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ValiRx PLC down 8.7% at 8.44p, 12-month range 7.75p-9.89p. The life science company focused on early-stage cancer therapeutics and women’s health ends its evaluation agreement with Hokkaido University to research a potential drug. The agreement was to investigate a drug candidate for use in oncology and the action of the molecule against endometrial, pancreatic and bile duct cancers. Under this agreement, ValiRx conducted a range of experiments following initial confirmation of the synthetic route and analysis. After overcoming initial challenges in synthesis and purification of the peptide, testing has been conducted on the product. However, ValiRx said the profile of the product has been found to be unsuitable for further development at this stage and the evaluation will now cease.
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