AIM movers: Positive erectile dysfunction news from Futura and Shoe Zone continues to surprise
Futura Medical (LON: FUM) says that the clinical study for the MED3000 topical gel erectile dysfunction treatment has met its primary and secondary endpoints. They showed an improvement in erectile function and a highly statistic improvement in the onset of action at 10 minutes. There were limited side effects with 4.3% of patient suffering headaches and a further 4.3% nausea, which is much better than rival treatment tadalafil. The next move is submitting MED3000 for FDA review as a De Novo medical device for the over-the-counter treatment of erectile dysfunction. This could lead to marketing authorisation by the first quarter of 2023. MED3000 has received the UKCA mark. Cooper Consumer Health has the exclusive licence for the commercialisation of MED3000 in the UK and the EU. The share price has fallen back from its high for the day, but it is still 16.2% higher at 43p.
Footwear retailer Shoe Zone (LON: SHOE) has made another positive trading update thanks to its focus on affordable shoes and raised 2021-22 pre-tax profit guidance from £9.5m to £10.5m. Strong trading in August, helped by the return to school, and cost management have improved the expected profit. Zeus estimates earnings of 16.8p a share. That leaves the 6.8p a share dividend forecast well covered. The share price rose 5.17% to 152.5p.
Alien Metals (LON: UFO) has granted Anglo American an exclusive right to negotiate and agree terms for up to $15m in funding and 100% of the offtake from the Hancock iron ore project in Western Australia. Anglo American will receive a royalty for 24 months. The terms are indicative. Conditions include that Alien Metals has to raise $5m in new equity. Alien Metals shares have jumped 17.4% to 0.675p.
Nanosynth Group (LON: NNN) shares are higher for the second day running following successful trail results with Volz Holdings concerning the use of the company’s antiviral technology in heating, ventilation and air conditioning units. UK regulatory approval will enable production of up to 100 tonnes of copper oxide nano material a year. The share price rose 16.5% to 0.6p.
Egg-free cakes retailer Cake Box (LON: CBOX) says trading is becoming more difficult and only part of the cost increases are being passed to franchisees. Sales are also under pressure with a like-for-like decline of 2.8% so far in this financial year. This means that full year profit will be much lower than the £7.2m expected. There is £6.7m in cash, although the £2m dividend will be paid in September. Cake Box is the worst performer of the say with a 40.2% slump to 107p.
AxisBiotix-PS revenues remain modest and SkinBioTherapeutics (LON: SBTX) shares have declined by 13.8% to 18.75p. A global partner is being sought for AxisBiotix-PS. The psoriasis treatment generated £75,000 in eight months. That is not doing much to reduce the cash outflow of the business. There was £1.8m in cash at the end of June 2022, down from £4.6m 12 months earlier. A cash raising is inevitable. There is positive news about the company’s oral health product and the optimal bacteria/lysate mix is being assessed prior to human studies. There could be good news to come from Croda, which is SkinBioTherapeutics’ partner in the cosmetics sector.
ECO Animal Health (LON: EAH) had already warned that it made a slow start to the current financial year and that it would have to provide for a potential sales tax liability on exports. Yet the share price fell another 6.95%% to 87p when the 2021-22 results were released. The share price has fallen by one-third since the original profit warning. The results themselves were not a great surprise because the 22% decline in revenues and slump in profit was expected. Low Chinese hog prices are hampering demand for antibiotics, such as Aivlosin. The business is growing outside of China.
Independent directors of market research firm System1 Group (LON: SYS1) are conducting a strategic review. This will assess whether the company can grow faster if partners or external investor are brought in. The proposed tender offer is being postponed. The share price has fallen 12% to 220p
Cancer diagnostics developer Oncimmune Holdings (LON: ONC) is delaying its 12-month results. The year end is being changed from ay to August, so the full financial period will be 15 months. The shares declined by 8% to 88.9p.
Related services
Customer comments
No comments were found for AIM movers: Positive erectile dysfunction news from Futura and Shoe Zone continues to surprise. Be the first to comment!