Source - Alliance News

The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

----------

SMALL-CAP - WINNERS

----------

Hemogenyx Pharmaceuticals PLC, up 8.5% at 1.60 pence, 12-month range 1.05p - 2.12p. Completes its second process qualification run of the end-to-end process for the manufacture of HEMO-CAR-T cells. This was followed by analytical release tests to verify the quality of the manufacturer HEMO-CAR-T cells. The biopharmaceutical firm explains this run is the second of a minimum of three identical manufacturing runs needed for the submission of an investigational new drug application to the US Food & Drug Administration. The application is needed to gain authorisation from the US FDA to begin phase one clinical trails for HEMO-CAR-T cells.

----------

SMALL-CAP - LOSERS

----------

HeiQ PLC, down 53% at 26.00 pence, 12-month range 24.10p - 109.41p. Says its sales in the fourth quarter of 2022 were impacted by a ‘significant’ deterioration in consumer demand as a result of worsening macroeconomic conditions. The textiles technology firm adds this reduction in sales has also been compounded by brands increasing their levels of inventory to all-time highs after the pandemic, due to persisting supply chain concerns. Consequently, HeiQ’s customer base sees around 70% less demand in the final quarter of 2022. In addition, sales in China especially suffer due to pandemic related lockdowns. HeiQ now expects revenue for the year to be 20% below market expectations at between $54 million and $55 million. The firm’s pretax loss is expected between $2.5 million and $3.5 million.

----------

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Heiq PLC (HEIQ)

+0.05p (+0.44%)
delayed 04:00AM

Hemogenyx Pharmaceuticals PLC (HEMO)

-0.06p (-4.31%)
delayed 16:30PM