Rua Life Sciences PLC saw its shares jump 19% on the back of an upbeat trading update contained in the company’s address to shareholders attending its annual meeting later Tuesday.
Specifically, the news is good on the trading front with revenues meeting expectations.
What’s likely piqued the market’s interest is the narrative around costs with tight control over the purse strings yielding a 20% decline in overheads.
This in turn has had a positive impact on the company’s cash balances.
Rua makes next-generation polymers used in implantable medical devices.
At 8.48 am, the stock was up 3.2p at 19.7p, valuing the business at £3.6 million.