Redx Pharma (LON:REDX) – AGM statement
Market Cap: £26m; Current Price: 40.5p
Six ‘proof of concepts’ achieved
Redx announced that it reached the pre-clinical proof of concept stage with an anti-infective lead that has the potential to treat gonorrhoea, one of the most common sexually transmitted infections (STI) globally, with over 106 million cases each year.
The need for a new treatment for this STI is becoming ever more urgent with resistance to last-line antibiotics now emerging as a critical problem.
This is the second proof of concept to have been delivered from the group’s anti-infectives pipeline in the last 18 months.
To date, six proof of concepts have been achieved across five programs, with relevance for respective therapies to treat MRSA, bone tumours, skin, brain, breast, pancreatic and blood cancers.
NORTHLAND CAPITAL PARTNERS VIEW: Redx’s preclinical programs continue to progress nicely. The group expects to advance into first-in-human clinical trials in the first quarter of 2017, which would represent a major milestone for the business. In particular, the Company’s ‘Porcupine’ program—which has the potential to target hard-to-treat cancers—continues to offer exciting potential.
Premier African Minerals (LON:PREM) – SPECULATIVE BUY*: Corp update
Market Cap: £10m; Current Price: 0.7p
From yesterday: conversion of loan notes and issue of equity
Premier African Minerals has received notice from Darwin Capital to convert an additional 13 loan notes that have an aggregate value of £325,000 in to equity, as the APT price remains below the trigger price of $230/mtu.
The Par Value of the outstanding loan notes after conversion today is £200,000.
As a result of the conversion, Prem has issued 59,897,676 shares at a price of 0.542592p.
Following the issue the Company will have 1,602,686,995 shares outstanding.