Movers of Friday 19 March 2021
Sanne Group (SNN) shares rose 6.66% to 612.5 pence on rising profits
The alternative asset and business services provider stocks rose Friday afternoon after the company reported earnings up 16% for the fiscal year ended December 31, 2020.
Annual earnings rose 16% to £ 45 million after sales rose 8% to £ 170 million as the group increased its dividend in 2020, increasing it by 4.3% to 14.7 pence per share .
Looking ahead, the company informed investors that the continued high demand for alternatives to private assets, as well as the strengths of the business model, platform and expertise of Sanne, have given the board of directors confidence in the group’s medium- and long-term prospects.
SNN price chart
Futura Medical (FUM) shares rise 113.89% to 38.5 pence after receiving EU approval
Shares in the pharmaceutical company jumped over 100% today after telling investors that the EU Notified Body is to certify the group’s MED3000 gel as an approved Class 2B medical device.
Once certified by the EU, Futura’s topical gel formulation MED3000, known as a “Breakthrough”, will be the first pan-European topical treatment for erectile dysfunction (“ED”) available without a prescription.
Once the EU certification and the resulting CE mark have been issued, this will pave the way for rapid worldwide approval, according to Futura, particularly in regions such as the Middle East, Africa, the Far East and Latin America, which allow for a “quick” check over their recognition of the EU CE mark.
According to Futura, MED3000 has the potential to be a highly differentiated product by serving significant unmet needs across all degrees of severity in the global ED market of $ 5.6 billion and being the first clinically proven over the counter available worldwide ED treatments will.
FUM price chart
Braveheart Investment Group (BRH) shares jump 26.55% to 71.5p while the COVID-19 pipeline went “fully operational” earlier this month
The group informed investors earlier this month that the clinical sample pipeline developed by its affiliate Paraytec for the COVID-19 test is now fully operational.
The samples are processed and analyzed with the photonics-based detection system from Paraytec. Average time to get results is less than 120 seconds, a market leading figure.
The data from the laboratory tests confirm the performance of this photonics-based test in identifying patients with an infectious viral load within the acceptable range set by regulatory agencies.
Trevor Brown, CEO of Braveheart, said the results show that Paraytec technology “can lead the market”. He said the group’s attention will now be turned to beginning the final trial and marketing the product with either himself or a partner.
The platform is being developed to test for new viruses and variants of COVID-19, while the Paraytec team is also exploring its use to rapidly detect and identify bacterial and viral pathogens that are present in patients with sepsis and over 11 million Killing people a year.
BRH price chart
ReNeuron Group (RENE) shares rise 17.05% to 127p as new collaborations are unveiled
The group announced to investors that it has made “positive progress” following the release of a series of new collaboration agreements and new data on the group’s exosome technology platform.
The UK-based cell-based therapeutics developer is exploring various methods of loading exosomes both internally and on the exosome surface, and announced to investors that it is working with major pharmaceutical / biotechnology companies on these projects.
If the additional data gathered through these ongoing collaborations, which is expected to be received over the next six months, is positive, the company may enter into potential future out-licensing deals for its exosome platform.
The group has initiated two further collaborations with academic institutions in the UK and mainland Europe. The work in these collaborations aims to consolidate previous results that could lead to further studies examining the functional release of the charged exosomes.
RENE price chart
Investec (INVP) shares fell 7.83% to 213.05 pence as earnings are projected to fall 20-29%
The specialist bank and asset manager’s shares fell today after it became known that the underlying asset from continuing operations is expected to be 20-29% down on the prior year for fiscal 2021.
Year-over-year performance was impacted by lower interest rates, increased UK book hedging costs for structured products in November, lower customer activity and approximately 14% depreciation of the average rand against sterling.
In a broader sense, the group said its operating results for the fiscal year ended March 31, 2021 are expected to be in line with guidance published in its interim results in November 2020.
CEO Fani Titi said Investec is “encouraged” by the continued momentum across the company. He added that while the general outlook is improving, the long-term effects of COVID-19 remain uncertain. The group did not offer any guidelines beyond the current year.
INVP price chart