Biotech and pharma appeared to be the order of the day and specialty pharma Clinigen (LON:CLIN) posted strong interims as it revealed the positive financial impact of recent acquisitions and tie-ups.
The AIM firm also revealed it had bulked up its medicine cabinet with the acquisition of a product called Totect, which is used in cancer care.
In first-half results to end December, the group posted a more than doubling of revenues to £157.1mln and a 74% rise in operating profits to £23.5mln.
Clinigen’s cash balance grew by 96% compared with a year earlier to £22.1mln, while the interim dividend will be boosted by 18% to 1.3p a share.
The results statement revealed the company is starting to feel the benefits from its £225mln purchase of Idis, a specialist in the ethical supply on unlicensed medicines, and Link Healthcare, which has become part of Clinigen’s managed access division.
Elsewhere, Motif Bio (OTCMKTS:MTFBF LON:MTFB) passed a major milestone when it dosed its first patient in one of two phase III clinical trials it is carrying out on its next-generation antibiotic, iclaprim.
The studies will assess the drug’s potential in treating acute bacterial skin and skin structure infection, a life threatening condition.
They will look at efficacy and safety and compare them with the standard treatment vancomycin.
In all 1,200 patients will take part in the global trials run by Motif’s partner Covance.
Meanwhile, Akers Biosciences (NASDAQ:AKER LON:AKER) has started to supply its test for Heparin allergy or HIT into China after it was cleared for medical use in the country.
NovoTek Therapeutics, its Chinese distributor, has placed a US$2.5mln order that will be fulfilled in tranches throughout 2016.
Beijing-based Novotek has exclusive sales and marketing rights for PIFA Heparin/PF4 Rapid Assay products in China.
Horizon Discovery (LON:HZD) today told investors it is to form a new joint venture called Avvinity Therapeutics in a bid to target an immuno-oncology market currently worth £25bn a year.
The venture is with UK based biotech Centauri Therapeutics and will combine Horizon's gene editing, immunology, oncology and drug discovery capabilities with Centauri's Alphamer technology to develop therapeutics for solid tumours and leukaemias.
Dr Darrin M. Disley' chief executive of Horizon, told investors: "By combining Horizon's deep understanding of the genetic basis of cancer alongside its gene editing, drug discovery and emerging immuno-oncology toolbox, with Centauri's unique Alphamer technology and knowledge of its use, we have created an exciting new company to spearhead Horizon's move into targeted therapeutic development."
In mining, new studies on DiamondCorp's (LON:DCP) 74% owned Lace Mine in South Africa have updated resource figures for its main kimberlite pipe - the total resource is now estimated at 38.48 million tonnes down to the 920 metre level.
That's 16% more than the 33.12 million tonnes estimated in March 2012 but that was only down to 855metres. Notably, the resource also remains open at depth.
In financing news, Kibo Mining (LON:KIBO) has brought in £1.5mln through a loan arrangement with Sanderson Capital Partners.
The funding deal provides interest free cash for a fixed term, until August 31, and it supports the group’s efforts to complete a definitive feasibility study for the proposed Mbeya coal-to-power project (MCPP) in Tanzania.
Louis Coetzee, Kibo chief executive, highlighted that the Sanderson deal gives Kibo adequate funding to focus on the project, but, also lets it retain flexibility to investigate additional or alternative sources of funding.
Alecto Minerals' (LON:ALO) Zambian aspirations were boosted today - as it identified further surface gold resources within its Matala mine project, which could enhance the economics of early operations.
Alecto sampling has validated a 1984 report from the Zambian Industrial and Mining Corporation (ZIMCO), which estimated that an additional 75,000 tonnes of non- compliant resources exist in dumps and tailings adjacent to the Matala deposit.
Shares in W Resources (LON:WRES) nudged higher after the Europe-focused mining firm posted positive results from its São Martinho gold project and Tarouca project in Portugal.
At Tarouca, W has received high-grade tungsten results from trench work with 15 samples out of 126 exceeding 0.5% tungsten.
W is now looking at incorporating this high-grade material into its Régua mine development in Portugal. Next steps will be initial metallurgy work and assess options for an RC drilling programme.
At São Martinho, the firm has commissioned a report aiming at preparing a JORC compliant mineral resource estimate.
Meanwhile, Aureus Mining (LON:AUE TSX:AUE) told investors it had achieved commercial production status at the New Liberty gold mine in Liberia.
Production exceeded 9,000 ounces during February 2016 as the company sorted out teething issues that had affected the gravity and carbon in leach (CIL) circuits at the process plant.
The problems affected plant recoveries and cash flow and Aureus has had to defer the first repayment of the loan taken out to build the mine until 4 April.