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PureTech Health lifted by conference news

A look at today's movers on the London Stock Exchange

Nuformix PLC - Nuformix rises as industry veteran joins the board

PureTech Health plc (LON:PRTC) shot up 5% to 336p in afternoon trading after announcing it will present the SVB Leerink Global Healthcare Conference in New York later this month.

Daphne Zohar, founder and chief executive officer of the FTSE 250-listed biotech firm, will hold the stage at the event, now on its 9th year.

The conference is organised by SVB Leerink, an investment bank specialised in healthcare and life sciences.

In the mining sector, Panther Metals PLC (LON:PALM) also rose 5% to 3.77p after lodging applications for four exploration permits in Canada.

They will cover its Big Bear gold project in Ontario, allowing the start of a core drilling programme.

A plan is also being drawn up for a geophysical survey to be carried out in the coming months at Big Bear, which is situated near the town of Schreiber not far from the northern shore of Lake Superior, and covers 46 square kilometres on the highly prospective Schreiber-Hemlo greenstone belt.

3.10pm: Cobra Resources shines on mine sampling programme results

Cobra Resources PLC (LON:COBR) jumped 15% to 1.72p on Tuesday afternoon as it completed a sampling programme at the Wudinna Project in South Australia.

Analysis of both new assays and samples from previous drilling returned samples of 95 parts per billion (ppb) of gold, 30 ppb of silver and 19.4 ppb of copper.

The miner is now doing further interpretation of data and is set to release another update over the next ten days.

Back home, Crimson Tide PLC (LON:TIDE) surged 9% to 2.45p on a series of contract awards with the rail sector worth £600,000.

The AIM-listed firm is the creator and marketer of mpro5, an app for businesses that tracks staff, manages schedules and automatically compiles reports.

The company said the new contracts are with Chiltern Railways, MTR Elizabeth Line and two London stations managed by Network Rail.

12.05pm: Titon slips on profit warning 

Titon Holdings PLC (LON:TON) nosedived 22% to 85.6p at lunchtime as underlying profit before tax for the year to next 30 September 2020 is set to be “materially below” management's expectations.

The manufacturer of door handles and fans said trading in the first four months of the financial year was tougher than anticipated due to weak economy in the UK.

International operations are not doing much better, as the Korean new-build market is hit by the government restricting lending to slow down house prices growth.

4D pharma plc (LON:DDDD) tumbled 21% to 54.49p as it proposed a placing and subscription at a 28% discount.

The AIM-listed firm, which develops live microorganisms as medical treatment, is planning to raise £18mln by selling 36mln shares to new and existing investors at 50p each, while Monday’s closing price was 69.25p.

The fundraising, the first in five years, was planned to reach milestone data points in two clinical studies which the company deems as inflexion points.

11.15am: Reach4entertainment Enterprises reaches for the stars 

Reach4entertainment Enterprises PLC (LON:R4E) reached for the stars in late morning rising 16% to 1.01p.

The live entertainment communications group said full-year adjusted earnings and revenue will come in “significantly ahead” of expectations as the turnaround strategy bears fruit.

Chief executive Mark Boyan said the AIM-listed company is “well-placed” to continue the positive momentum into 2020.

Faron Pharmaceuticals Oy (LON:FARN) jumped 14% to 276.4p as it secured funds for a second phase III study of its Traumakine treatment for acute respiratory distress syndrome (ARDS).

Chief executive Markku Jalkanen said the firm had “an understanding that we have third-party financing for the trial” but did not disclose the exact source of the funding.

Jalkanen also noted that the AIM-listed firm was “absolutely” seeing more interest in its treatment following the outbreak.

Moving to the tech sector, Blancco Technology Group PLC (LON:BLTG) advanced 9% to 206p as it confirmed expectations for the financial year ending 30 June.

The AIM-listed firm, which develops systems to safely erase data from computers, saw profit soaring 166% to £700,000 in the half year to 31 December.

Last year’s net debt of £2.5mln swung to net cash of £5.4mln.

10.05am: Tekmar tanks over coronavirus hit on performance

Tekmar Group PLC (LON:TGP) was on top of the losers, down 32% to 104p on Tuesday morning as it both sources material from and sells products to China.

The AIM-listed oil services company said earnings for the full year are now expected to be flat as measures to manage the coronavirus outbreak are affecting performance “materially in a number of ways”.

Projects scheduled for shipment have been delayed, supply of components to China has stopped until further notice and the group’s office in Shanghai has been shut down.

The coronavirus is haunting commodities markets, since China buys half of the world’s copper and steel and around 14% of global oil.

BHP PLC (LON:BHP) dipped 2% to 1,663.8p after announcing it expects to cut full-year guidance if the coronavirus outbreak is not “demonstrably” contained by March.

Global steel production is expected to increase “modestly” in 2020, the commodities giant said, with slower Chinese growth offset by improvement elsewhere.

Meanwhile, Glencore PLC (LON:GLEN) dropped 3% to 230.15p as half-year underlying profit fell 26% to US$11.6bn.

The miner said the second half had seen a pick-up in cobalt after the first half problems at Katanga in the Democratic Republic of Congo.

9am: Nuformix rises as industry veteran joins the board

Nuformix PLC (LON:NFX) shares rose 4% to 7p in early trade on Tuesday as the pharmaceutical development company announced the appointment of Dr Karl Keegan as a non-executive director with immediate effect.

The group noted that Keegan has over 25 years of experience working in senior roles in the life sciences industry and is currently chief executive officer at HOX Therapeutics Ltd, a private biotechnology company developing first-in-class, highly targeted cancer therapies based on HOX genes.

Dr Dan Gooding, Nuformix’s chief executive officer commented: "With his extensive experience in strategy, finance, corporate development and capital markets within life sciences, Karl brings a wealth of experience that is highly relevant to Nuformix at this moment as we enter new stages in the development of the Company and our assets."

Meanwhile, Tertiary Minerals PLC (LON:TYM) topped Tuesday’s early risers, rocketing 56% higher to 0.28p on the back of an update on its Pyramid gold project in the US state of Nevada

The miner drilled its first drill hole to follow up exploration carried out by Battle Mountain in 1989, intersecting a mineralisation of 17.8 grammes per tonne for a 94-metre down hole.

“The deposit provides an exciting gold target where our team has recently identified analogies with the high-grade multi-million-ounce gold deposits at the Midas and Fire Creek mines in Nevada,” said managed director Richard Clemmey.

Investment company Craven House Capital PLC (LON:CRV) also shot higher, up 26% to US$5.82 after raising US$2mln via a placing to a single investor.

The new investor acquired 200,000 ordinary shares at US$10 each, a 117% premium to the closing price on Monday, and 1.1% premium to the last net asset value per share of US$9.89 as at last May.

Proactive news headlines:

Feedback PLC (LON:FDBK) said it hopes to convert the results of a pilot study of its new app for doctors into “meaningful contracts”. Bleepa allows medical-grade images to be shared securely on phones and tablets. Early indications from a trial at the Pennine Acute Hospitals NHS Trust have been “positive” with average time to inpatient referral more than halved thanks to the technology.

Pan African Resources plc (LON:PAF) boosted gold sales by 13.6% to 90,602 ounces during the six months to December 2019. Gold production increased by 14.7% to 92,941 ounces, primarily due to a boost in output from the Evander mine in South Africa.

Nuformix PLC (LON:NFX), the pharmaceutical development company using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs has announced the appointment of Dr Karl Keegan as a non-executive director with immediate effect. The group noted that Keegan has over 25 years of experience working in senior roles in the life sciences industry and is currently chief executive officer at HOX Therapeutics Ltd, a private biotechnology company developing first-in-class, highly targeted cancer therapies based on HOX genes.

FastForward Innovations PLC (LON:FFWD) said an investee company has shipped 400 kilograms of medical cannabis to Israel. EMMAC’s crop came from the Terra Verde facility, in Portugal, and was sold to Bazelet Group. FastForward owns a 2.4% stake in EMMAC.

W Resources PLC (LON:WRES) has put in place a €5mln facility with Banco Santander, with the firm to use the money to repay an existing €3mln loan from Caja Rural de Extremadura and to provide a net €2mln of additional working capital and liquidity. The facility allows W Resources to monetise the majority of the €5.3mln grant from Junta de Extremadura Government, which the company had expected to receive in the first quarter of 2020 which it is likely to receive now until mid-2020.

AfriTin Mining Ltd (LON:ATM) has completed its first sale of tin concentrate from the Uis tin mine in Namibia. A second shipment of tin concentrate has also been dispatched.

Conroy Gold and Natural Resources Plc (LON:CGNR) has raised £302,500 through a share placing and subscription. The proceeds will be used to support exploration work at Clontibret, Clay Lake and Glenish which are located along the Orlock Bridge Fault in Ireland.

Angling Direct PLC (LON:ANG) told investors it expects to report a 26.5% increase in revenue for the financial year. In a pre-close trading update, the firm said revenue is expected to amount to £53.1mln compared to £42mln in the preceding year. In-store sales rose by 41.3% to £27.9mln as the fishing products retailer added ten new stores to its portfolio. It ended the year with 34 stores and in January it added one more.

Silence Therapeutics PLC (LON:SLN), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, today announces that Dr. Rob Quinn, its chief financial officer, will present at the Cowen 40th Annual Health Care Conference in Boston on Monday, March 2, 2020 at 4:10 p.m. EST (9:10 p.m. GMT). A live webcast of the presentation can be accessed via the Investors section of the company's website and an archived replay of the webcast will be available for 60 days after the conference.

Berkeley Energia Limited (LON:BKY) said that at its General Meeting held on Tuesday all resolutions voted on were carried by way of a poll.

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