ImmuPharma (LON:IMM) – BUY*: Update on Phase 3 trial
Market Cap: £42m; Current Price: 34p; Target Price: 171p
Additional site in Mauritius
ImmuPharma issued an update on the progress of its Phase 3 clinical trial of Lupuzor™, its lead programme for the potential treatment of Lupus.
At the request of the Mauritian Government, ImmuPharma will open a new site in Mauritius to participate in the current pivotal Phase 3 trial.
It is anticipated that around 30 Lupus patients will commence recruitment within this new site over the next few weeks as part of the ongoing 200 patient Lupuzor™ trial.
Mauritius, with a population of around 1.2 million, is prevalent to a high proportion of Lupus sufferers, with approximately 3000 current Lupus patients.
NORTHLAND CAPITAL PARTNERS VIEW: Mauritius has a high proportion of Lupus sufferers. The Mauritian Government's strong interest in Lupuzor™ demonstrates how Lupus is an unmet medical need for which an effective therapy is highly sought after.
Savannah Resources (LON:SAV) – CORP: Finland update
Market Cap: £16.8m; Current Price: 4.4p
Initial rockchip samples supportive lithium prospectivity of projects
Savannah Resources has completed the first four weeks of an eight to ten week reconnaissance geological mapping and rockchip sampling programme.
To date a total of 70 rockchip samples have been collected with assay results returned for three samples. The remaining assays are expected to be received over the next four to six weeks.
At the Somero Project the Company has defined pegmatites up to 1,200m long and 50m wide with an initial rockchip assays of 4% Li2O. While at the Erajarvi Project pegmatites up 800m long and 30m wide have been defined with an initial rockchip assay of 1.29% Li2O.
The Company has identified lithium bearing petalite, spodumene and lepidolite.
NORTHLAND CAPITAL PARTNERS VIEW: The initial results from Savannah Resources reconnaissance geological mapping and rockchip sampling programme continue to support the Company’s belief in the prospectivity of the areas for significant hard rock lithium to be discovered.
Amphion Innovations Plc (LON:AMP) – CORP: Interims
Market Cap: £6.4m; Current Price: 3.25p
Net Asset Value per share up, to 4.3p
Amphion announced interim results for the six months to 30 June 2016.
Net Asset Value per ordinary share was up, to 4.3p (US $0.057 cents) at Period-end, from 3.8p (US $0.055 cents) as at year end.
The success of the AIM IPO of Amphion's partner company, Motif Bio Plc, and the subsequent increase in the value of Amphion's shareholding in Motif, has been the driver behind the increase in the Company's Net Asset Value over the last 15 months.
Of note, post period-end the group concluded a new Memorandum of Understanding to merge partner company m2m with another company.
Also, partner company DataTern's Markman Hearing in the MicroStrategy case was scheduled for September 26 in the U.S. District Court of Massachusetts.
NORTHLAND CAPITAL PARTNERS VIEW: After the successful listing of two portfolio companies (Motif and Kromek) on AIM—which generated substantial value for Amphion—the group continues to progress its other portfolio companies towards key value inflection points. Among these, DataTern and m2m have seen good progress over the period and post period-end. Meanwhile, Amphion’s NAV/share continues to increase.