Shares in Incathera PLC shot up 70% in early trading after the developer of skin care products revealed its deal with Switzerland's Marionnaud is ramping up faster than anticipated.
Its first order has been doubled, while it expects to bank £10m in sales next year and £33m the year after as a result of the tie-up.
Stanford Capital Partners sees one of two scenarios playing out. The first is the roll-out across 1,200 Marionnaud outlets, which gets it to £33m in 2026 and £37m the year after.
Alternatively, there's take-up not just by Marionnaud but across the AS Watson Group network too, which has 8,000 distributors in China and could generate £90m of revenues in 2027.
Incanthera shares jumped 6.5p to 15.75p, while stock in ImmuPharma PLC (AIM:IMM), which owns 10.8% of Incanthera, was up 25% at 2.4p.