Syncona Ltd, the healthcare company focused on building and funding life science businesses, surged 4% to 179.5p, climbing just over 4p.
The rally came after it announced it invested US$56mln in a Series B financing of SwanBio Therapeutics.
Syncona’s stake in the business is now up to 80%, following a first trance investment of US$19mln.
SwanBio’s lead candidate for adrenomyeloneuropathy, a spinal cord dysfunction, is expected to go to clinic this year.
2.33pm: Darktrace falls as executive named in Britain's largest ever fraud
Darktrace PLC (LSE:DARK) nosedived 13%, to 332.6p as one of its senior executives was named as being involved in Britain’s largest-ever fraud.
The mid-cap company’s chief strategy officer Nicole Eagan was investigated by the US Department of Justice for her role in the £8.9bn sale of software business Autonomy in 2011.
Autonomy’s central management prettied up the success of the business via accounting “levers” to make it seem more valuable than it truly was.
1.30pm: Experian (LSE:EXPN) falls over outlook concerns
Experian (LSE:EXPN) PLC led the blue-chip fallers on Wednesday, having eased 105p, or 3.9%, lower to 2,564p after a growth outlook warning, despite what looked a positive financial full-year results statement.
The world’s largest credit data firm provided a bleak future revenue growth forecast on expected sinking demand as surging inflation piled further pressure on household budgets.
At first glance, however, the results for the year ended March 2022 seemed upbeat, with a 34% hike in pre-tax profits.
12.30pm: Coats Group offset inflationary issues
Thread manufacturer Coats Group PLC (LSE:COA) rose 6%, adding 3p onto its share price with the stock currently changing hands at 76.9p.
Sales in the first four months of the year were up 20% like-for-like, with the FTSE250 company offsetting inflationary pressure with “price and productivity gains.”
11.30am: Science Group climbs with first-half profits ahead of 2021
Science Group PLC (AIM:SAG), the science-led services and product development organisation gained 4% to 394p after announcing it expects the first-half profit to be ahead of 2021.
The London-listed company said performance said it made a good start to the year up to April, which was slightly ahead of the board’s expectations.
While it is monitoring the ongoing impact of inflation on materials, energy, and wages, it is largely offsetting this due to the strong US Dollar compared to the Sterling, according to a statement.
Gross cash as of 30 April was £38.4mln with net funds of £23.4mln.
A strong balance sheet enables it to evaluate corporate opportunities to increase the scale and/or development of the Group
10.06am: N Brown Group surges as full-year profits climbs
N Brown Group PLC (AIM:BWNG), the online retailer, surged 17% to 30.87p after the release of its final year results.
Adjusted profit before tax nearly was up £29.4mln last year to £43.1mln.
Headquartered in Manchester, the company was also able to reduce its net debt position, down from £359.4mln to £301.1mln.
"I am pleased with our continued progress in transforming N Brown into a more focused digital business, with a distinct and improving offer across our strategic brands,” said chief executive Steve Johnson.
Elsewhere, Premier Foods PLC climbed 5% to 112.8p after releasing a set of its own preliminary results.
Profit earnings per share are expected to be ahead of previous market expectations, with the company increasing its dividend by 20%.
The manufacturer behind brands such as Paxo and Mr Kipling said it successfully navigated macro and industry-wide supply chain issues, as well as the continued inflationary environment.
“With this positive momentum, and the resilience of our brands, categories and supply chain, we are confident of delivering another year of good progress,” said chief executive Alex Whitehouse.