Economic and Market News for 3 June 2019

Biotherapeutics and research reagent developer Avacta Group said that it was planning to submit an application early in 2020 to conduct a clinical study in patients with selected solid tumours....

Beowulf Mining said that recent drilling at the Aitolampi graphite prospect in Finland had extended its higher-grade western zone. Highlights included intersecting 102.04 metres at 5.07% TGC,...

Mining project prospector Altus Strategies said its Ethiopian unit had been granted the Zager exploration licence. The play targeted volcanogenic massive sulphide hosted copper and gold deposits...

Waste gasification to energy technology company Eqtec said it had drawn down £0.2m under a £3.5m loan facility with Altair Group Investment. A balance of around £0.7m remained available to be...

Online gambling software provider GAN welcomed the signing and legalisation of Internet gambling in the US state Illinois. The bill would allow patrons to place sports wagers both in-person and...

Remote tracking technology company Starcom said it had received a further payment due from a North African distributor. The company had in January received an initial payment in respect of a $1.1m...

Block Commodities said it had appointed Frank D'Ambrosio as chief medical officer to its scientific advisory board. The board currently oversaw the company's operations within the medicinal...

Renewables Infrastructure Group said it had agreed to acquire a 25% stake in the 330 megawatt Gode 1 offshore wind farm in the German North Sea, for an undisclosed sum. The project, completed in...

Consumer engagement experiences developer Dev Clever said its cloud-based gamification platform 'Engage' had already delivered gamification campaigns for a host of national retailers, global...

The UK manufacturing purchasing managers' index dropped to 49.4 in May, down from 53.1 in April, according to IHS Markit. The market been expecting a more modest fall to 52.5. 'Manufacturers...

Funerals company Dignity fell after the UK government regulated the pre-paid funeral plan sector. Dignity welcomed the move from the HM Treasury to introduce statutory regulation of pre-arranged...

Applied Graphene Materials signed a distribution agreement with Carst & Walker to extend its reach into the South African chemical markets. C&W, part of Hobart Enterprises, operated...

Third Point Offshore Investors said it posted a negative return in May. The company's net asset value fell 1.7% for the month, though for the year to date it was still up 8.9% Story provided...

Pathfinder Minerals said talks with potential third parties interested in a Mozambique prospect were continuing to progress positively. The company also noted media speculation that it could be...

PureTech Health said that affiliate Karuna Therapeutics had filed for a proposed initial public offering of shares in the US. The number of shares to be offered and the price range for the...

Rockhopper Exploration said a new well in its Egyptian portfolio was now producing oil. The Al Jahraa-11 in-fill well was currently producing around 787 barrels of oil per day. Rockhopper...

Bonding solutions supplier Scapa Group said it would contest an attempt by customer ConvaTec to terminate a master supply agreement with the company. Scapa had announced late on Friday that...

Performance materials group Low & Bonar agreed to sell its Construction Fibres business for €6.4m to Adfil NV and Industria. The disposal would include the sale of all of the assets of the...

Proton therapy system developer Advanced Oncotherapy announced 'positive' results from its comparative study, further demonstrating the competitive advantages of its proprietary proton...

Australian sapphire producer Richland Resources said that it had decided to pursue a sale of its Capricorn mine, and had secured a further extension of its £400k and $150k secured convertible loan...

Iron deficiency focused Shield Therapeutics said that Teva Pharmaceutical Industries had filed a notice of appeal regarding a previous patent ruling. Teva had filed a notice of appeal to the...

WideCells said that its Iconic Labs new media business had agreed in principle and commenced work on a consulting and marketing services engagement with a 'UK-based financial services business'....

Metals Exploration said its lenders and major shareholders had extended a standstill agreement relieving the company of making loan repayments for a further month until 28 June. The company's...

Uranium stockpiler Yellow Cake said it had taken delivery of around 1.2m pounds of uranium from NAC Kazatomprom. Yellow Cake had on 12 April exercised an option under a framework agreement with...

Sareum Holdings welcomed news that Sierra Oncology had reported positive preliminary clinical data from two in-human studies. Sierra Oncology is the licence holder for Chk1 inhibitor SRA737. It...

Angus Energy said that after mulling over the recent results of the Brockham work programme, preparatory operations for the second stage would commence on the week of 17 June. The further...

Gusbourne said it had entered into an agreement with its major shareholder Lord Ashcroft KCMG PC to receive an unsecured loan of up to £2m. The loan, which was repayable on 31 October, would be...

UK Oil & Gas said it had completed the previously announced acquisition of the interests of both Europa Oil & Gas and Union Jack Oil in a UK exploration licence. The acquisition of their...

KCOM group withdrew its support for a takeover from Universities Superannuation Scheme in favour of a 'superior offer' by a fund managed by Macquarie Infrastructure and Real Assets. The...

Mass spectrometry instrument developer Microsaic Systems said it had developed proof of concept workflows to analyse in real-time complex samples from bioreactors. The company said the work could...

Gambling sector technology group Nektan said it had appointed Simon Hay as its chief financial officer. Hay was previously finance transformation director at GVC Holdings and had previously worked...

Tatton Asset Management booked a rise in annual profit after it boosted its funds under management. Pre-tax profit for the year through March rose to £6.1m, up from £3.6m on-year. Assets under...

Plexus Holdings said it had formed a joint venture with BEL Valves that would involve it offering oil and gas operators a package of surface xmas trees and valves, together with its production...

AstraZeneca and Merck said more than a fifth of patients receiving treatment for pancreatic cancer remained free of disease progression after two years compared to just 10% on placebo. Results...

Specialist engineer TP Group said it had entered into a nine-year exclusive licensing agreement with Batelle to be a partner for their nanotechnology material. The agreement enabled TP to develop...