Shares in the personal health monitoring firm CloudTag Inc (LON:CTAG) went crazy on Monday after the company confirmed that it expected to take delivery of its first batch of devices this month.
CloudTag was forced to address online speculation which saw its share price add more than 40% at one point this morning, with no apparent reason for the rise at the time.
As well as taking delivery of the first health monitoring devices, CloudTag mentioned that it was in early stage discussions with another potential UK distributor and an online retailer.
The company added that there can be no certainty that these discussions will lead to any contractual agreements or sales.
At the other end of the spectrum, Metal Tiger PLC (LON:MTR) finished the day more than 10% down, after undergoing a second boardroom overhaul in the space of six months.
Chief executive Alex Borelli resigned after just two months in charge, with chairman Terry Grammer and technical director Jordan also following him out of the door.
The new board will comprise Charles Hall as Chairman, former chief executive Paul Johnson as a non-executive, Michael McNeilly as chief executive, and Keith Springall as finance director.
11.40am...Amryt Pharma shares buoyed by second major deal in three days
The Amryt Pharmaceuticals (LON:AMYT) share price saw a double-digit rise this morning after the firm unveiled its second major deal in as many working days.
On Friday, the company, whose portfolio is focused on rare or orphan diseases, told investors it had tied up a €20mln European Investment Bank loan facility to fund the late stage development of its lead drug.
Monday’s agreement with NASDAQ-listed Aegerion Pharmaceuticals brings into the portfolio the product LOJUXTA, known generically as lomitapide.
Amryt is being allowed to sell the treatment in the Europe and certain other territories, including Turkey and Israel, in return for a royalty payment.
LOJUXTA is used to treat a rare condition called Homozygous Familial Hypercholesterolemia (HFH), a life threatening disorder that impairs the body's ability to remove ‘bad’ LDL cholesterol from the blood.
This typically leads to aggressive and premature narrowing and blocking of arterial blood vessels.
Sales of the drug, which comes in capsule form, were €21mln (US$22mln) in the third quarter, with 15% of those revenues coming from outside the US.
Shares were up more than 12% to 18.5p shortly before lunch.
It was also a bright start to the week for Newmark Security PLC (LON:NWT).
The security systems provider unveiled a trio of new products this morning as it looks to become the “manufacturer of choice” in the industry.
Under its Grosvenor Technology brand, Newmark has launched its Sateon Advance access control system as well as an Android-based terminal for workforce management called GT-10.
It has also brought out a partnership programme called Alliance, which will offer its customers and partners access to commercial, marketing and technical support.
9.30am...Purplebricks shares soar as revenues leap
Purplebricks Group PLC (LON:PURP) was the biggest riser in London on Monday morning after pleasing investors with a solid set of interims.
The online estate agent managed to generate higher revenues over the past six months than it did during the whole of its last financial year.
For the six months to October, Purplebricks’ revenues were up 159% to £18.7mln (H1 2015: £7.2mln).
That allowed the company – which was founded less than three years ago – to eat away at its losses, which it managed to more than half during the period to £2.8mln (H1 2015: £6.4mln).
While today’s numbers were good, the news that would have been more welcomed by shareholders was that recent headwinds aren’t hurting performance too much.
The recent Autumn Statement seemed to target estate agents with the new laws on letting agent fees, while Brexit and general economic uncertainty has also had an effect on the housing markets.
Purplebricks dismissed these though, claiming that trading had been “largely unaffected” by such events and that 2017 is on course to be another year of substantial growth.
Elsewhere, Mirada Plc (LON:MIRA) didn’t get off to the best starts and was down by almost a third to 2.9p in early deals.
The digital TV services provider warned on profits after telling investors that there would be a delay in the rollout of its largest contract, which would have an impact on subsequent licence fee income.