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Proactive news headlines: Synairgen, Bango, Sunrise Resources, Tiziana Life Sciences, SkinBioTherape


Synairgen PLC (LON:SNG) has said the first patient has been dosed with its inhaled formulation of interferon beta-1a as part of its global phase III trial in people hospitalised coronavirus (COVID-19). The respiratory drug discovery and development company said dosing with SNG001 had so far only taken place in the UK with work expected to get underway in the US and EU shortly. In all, the randomised placebo-controlled study will be conducted in around 20 countries, enrolling 610 COVID-19 patients who require supplemental oxygen.

Bango PLC (LON:BGO) has reported record revenues and a big profit uptick as new contracts with blue-chip organisations combined with surging online demand during the coronavirus lockdown. Revenues in the twelve months to end December 2020 rose by 70% to £12.2mln, the e-commerce platform owner said in a trading update. Underlying profits – adjusted EBITDA – jumped to more than £4mln from £450,000, while end-user spend, another key metric, rose to £1.9bn from £1.1bn. Separately, AIM-listed Bango said it had also appointed Liberum as its nomad and broker.

Sunrise Resources PLC (LON:SRES) told investors it has hit the ground running in 2021, as work continues across its portfolio. The company, in a project update, highlighted progress at the CS Pozzolan-Perlite and Sundance Gold projects in Nevada, and Baker’s Gold project in Western Australia. “We anticipate a high level of activity now that our CS Project is permitted for production and as we continue the exploration of our precious metals projects in Nevada and Australia,” said Patrick Cheetham, Sunrise executive chairman in the statement.

Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS) said it has hired an industry veteran with experience of successfully developing blockbuster monoclonal antibody products as its chief medical officer. At Regeneron Pharmaceuticals Inc (NASDAQ: REGN) Dr Neil Graham was “instrumental” in bringing to market Dupixent, a blockbuster monoclonal antibody product for eczema and asthma, taking it from phase I to launch. During his tenure, he also led the product development for Kevzara, an IL-6R antibody for rheumatoid arthritis, which is now also being used to fight coronavirus (COVID-19) symptoms.

SkinBioTherapeutics PLC (LON:SBTX), a life science company focused on skin health, announced that AxisBiotix Limited, a wholly-owned subsidiary of the company, has commenced enrolment for its food supplement consumer study. Further to research exploring the relationship between the gut and the skin and the scientific evidence pointing to a link between gut dysfunction, stress-induced alterations to the gut microbiome and skin inflammation, the company noted that it has been working with Winclove Probiotics B.V. for the development of a blend of bacterial strains as a food supplement. A proprietary blend of bacterial strains has been specifically designed to balance the gut microbiome to address the overproduction of new skin cells often seen in aggressive skin conditions such as psoriasis.

Mineral & Financial Investment Limited (LON:MAFL) says the first three holes at Lagoa Salgada in Portugal intersected copper-rich mineralisation in the South Zones. Partner Ascendant Resources (25%)  is carrying out the drilling in an area of known copper-rich mineralisation. Jacques Vaillancourt, M&FI’s executive chairman said: “The results from the first three holes of Redcorp/Ascendant’s drill program in the South Zone confirms the thesis that it is copper-rich, with grade intensity improving as we move south and east.

Argo Blockchain PLC (LON:ARB) said it has received approval to begin trading on the OTCQB venture market in the US from Wednesday under the ticker ‘ARBKF’. The cryptocurrency mining firm said its listing on the OTCQB will have no impact on its existing shares on the London Stock Exchange and that it will continue to rely on announcements made through the LSE and will have no SEC reporting requirements.

Kromek Group PLC (LON:KMK) said it has begun a £1.25mln programme funded by Innovate UK to customise its biological threat-detection solution to automatically detect airborne viruses, including coronavirus (COVID-19). The detection technology specialist said the solution is designed to be deployed in high footfall locations such as airports, hospitals, retail outlets and entertainment venues, with the initial focus of the programme being to develop a system to rapidly test for the presence of SARS-CoV-2, the virus that causes COVID-19. In a separate announcement reporting its results for the six months to October 31, 2020, Kromek said it is expecting “significant revenue growth” in the second half of the year thanks to “increased trading and improved visibility” as commercial activity rebounded. For the first half, the company reported an adjusted (EBITDA) loss of £0.9mln compared to a £0.6mln loss in the prior year, while revenues moved to £4.6mln from £5.3mln.

Allergy Therapeutics PLC  (LON:AGY) has said it can fund two crucial upcoming clinical trials from its own resources after closing out 2020 with a record cash position. In a trading update ahead of its interim results, the hay fever vaccine specialist noted that sales were robust during the half-year to end December 2020, with revenues rising by 7% to £54mln. Cash at the end of December amounted to £48.3mln, which Allergy says is sufficient to pay for both the Grass MATA MPL Phase III trial as well as the peanut allergy vaccine candidate Phase I trial.

Induction Healthcare Group PLC (LON:INDC), a leading healthcare technology company that helps digitally transform hospitals, has announced a contract with the Royal Free London NHS Foundation Trust (RFL).  The group’s Induction Zesty unit, a leading provider of patient portals to NHS Hospitals, has delivered the My RFL Care patient portal as the first phase of an ambitious roadmap for RFL’s digital patient services in the next two years. The My RFL Care portal launched in August 2020 and has had significant traction with over 50,000 patients registering and using the service in the first few months. 250,000 patients are expected to adopt the service in the first year.

Greatland Gold PLC (LON:GGP) has noted an announcement from its joint venture partner Newcrest Mining Ltd saying it has approved A$146mln (£82mln) in funding for the construction of the box cut, exploration decline and associated surface infrastructure at the Havieron project in Western Australia following the receipt of regulatory approvals in December. The AIM-listed firm, which owns Havieron through its JV with Newcrest, also said that a US$50mln (£36.5mln) loan agreement announced on November 30, 2020, will be used to fund its share of early works and growth drilling activities up to the completion of a pre-feasibility study (PFS) and, thereafter, its joint venture expenditure requirements towards the completion of a feasibility study. The PFS is expected to be complete by late 2021.

Oracle Power PLC (LON:ORCP) has told investors it is strongly encouraged by findings from the interpretation of magnetic and IP (Induced Polarisation) geophysical data for the Northern Zone gold project. The company noted the completion of processing and interpretation of the data for Northern Zone, which is located in the east of Kalgoorlie area of Western Australia. It said the data highlighted that the findings supports a model of the geology as “a sequence of mafic and ultramafic volcanic rocks, with interbedded sediments and felsic volcanics, that have been intruded by granitic and porphyry intrusions.”

Power Metal Resources PLC (LON:POW) has released a review of current activities. “Power Metal has multiple exploration programmes underway alongside significant corporate activities in and around certain of our projects,” said chief executive Paul Johnson. “Given the extent of our activities I would like shareholders to also know that your company is in a strong financial position and is well funded to complete all its currently planned exploration work, including drilling programmes underway at present.”

United Oil & Gas PLC (LON:UOG) has highlighted a continued strong production performance from its 22%-owned Abu Sennan project in Egypt. The company, in a quarterly production update, told investors that net production from Abu Sennan averaged 2,340 barrels of oil equivalent per day (boepd) over the second half of 2020, versus guidance of 2,300 boepd. In the fourth quarter specifically net production averaged 2,243 boepd, comprising 1,960 barrels of oil and 283 boe of gas.

Alien Metals Ltd (LON:UFO) has said its Canadian partner Capstone Mining (TSX:CS) is to start a 2,500-metre drill program at the Donovan 2 Copper-Gold project in Mexico. Capstone has an agreement whereby it can acquire a 65% interest in Donovan 2 through US$3.9mln of exploration work and take its stake up to 80% if it pays for a pre-feasibility study. An Induced Polarisation (IP) geophysical survey across the majority of the tenement was completed by Capstone in December 2020 with the final reporting and interpretation now underway to identify drill locations. The IP survey was completed for 27.3 line kilometres and the data capture took 24 days. 

IronRidge Resources Limited (LON:IRR) told investors it has defined multiple new pegmatite targets in auger drilling results from the Ewoyaa Lithium Project (ELP), in Ghana. The company said that seven high-priority pegmatite target zones have been defined. Individual pegmatites are seen with up to 460 metres length and 30 metres of apparent width. All the targets occur within 500 metres to 1.5 kilometres of the current Ewoyaa lithium project resource footprint – the project’s current JORC amounts to 14.5mln tonnes at 1.31% lithium (Li2O).

MetalNRG PLC (LON:MNRG) said its directors have resolved not to proceed with the planned acquisition of Lake Victoria Gold Ltd (LVG), announced on October 20, 2020. The natural resource investing and exploration company said that, following its last announcement to the market on December 24, 2020, detailing the terms of a variation agreement with LVG, the group has been working on reassessing the transaction and completing further due diligence. However, MetalNRG added, in the opinion of its board, the original attractiveness of the transaction’s value has significantly diminished, and it is not satisfied that certain aspects of tenement ownership can be resolved with the certainty needed to proceed in the near term.

Keywords Studios PLC (LON:KWS) said it has completed its acquisition of heavy Iron Studios Inc following its initial announcement of the purchase in September. The video game services group said previously that it will acquire the group for US$13.3mln which will consist of US$4mln of cash upfront, US$500,000 on the first anniversary of the deal, and up to US$8.8mln of contingent payments tied to performance targets across the first two years under the Keywords’ banner.

Mosman Oil and Gas Limited (LON:MSMN) the oil exploration, development and production company, announced that it has sold its remaining 510,000 shares that it owned in Canadian-listed Norseman Silver Inc. (previously GEM) for around AS208,000. The sale is a considerable surplus to the written down value as at June 30, 2020, of around A$27,000. Mosman now holds no interest or shares in Norseman. Funds generated from the sale will be added to Mosman’s cash reserves.

Adamas Finance Asia Limited (LON:ADAM), the AIM-quoted investment company focused on providing shareholders with attractive uncorrelated, risk-adjusted returns from a diversified portfolio of pan-Asian assets, has completed its name change to Jade Road Investments Limited (LON:JADE). The company noted that its portfolio has undergone a transformation over the last few years and is seeking to establish an identity which more fully represents its pan-Asian small and medium-sized enterprise focus. The company noted that the new name reflects the spirit of connecting investors and capital from the West, across the Middle East and into the markets of the Far East.

Advanced Oncotherapy PLC (LON:AVO), the developer of next-generation proton therapy systems for cancer treatment, announced that it has received a warrant exercise notice in respect of 300,000 new ordinary shares of 25p in the company with an exercise price of 25p per share. Proceeds of £75,000 have been received by the company in respect of the warrant exercise.

Condor Gold PLC (LON:CNR) (TSX:COG) has announced that following the receipt of notices for the exercise of warrants, it is issuing 501,713 new ordinary shares with a nominal value of 20p each in the capital of the company at a subscription price of 31p each for 125,000 warrants and at a subscription price of 40p each for 376,713 warrants. The company said it has received gross proceeds of £189,435.20.

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 7,995,600 new ordinary shares of 0.1p each in the company at an exercise price of 1.0p per ordinary share. Subscription monies of £79,956 have been received by Power Metal in respect of these exercises.

Metal Tiger PLC (LON:MTR), the AIM-listed investor in natural resources opportunities said it has received warrant conversion notices for, in aggregate, 51,723 new ordinary shares at an exercise price of £0.20 each for total proceeds of £10,344.60.

SourceBio International PLC (LON:SBI), an international provider of integrated state-of-the-art laboratory services and products, has announced that it will present at the Shares Investor Evening Webinar, providing an overview of the business and progress being made by the company. Jay LeCoque, SourceBio executive chairman, will present online at the Shares Spotlight webinar on Wednesday, January 20, 2021. The event starts at 6.00pm and LeCoque will start presenting promptly at approximately 7.20pm.  No new material information will be disclosed at the event and the presentation will be made available on the company website shortly after the events here:

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