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Motif Bio jolted back to life by appointment of Peel Hunt as strategic adviser

Motif Bio PLC (LON:MFB), the bombed-out cash shell, showed signs of a pulse, rising 64% to 1.3p afte..

Motif Bio PLC (LON:MFB), the bombed-out cash shell, showed signs of a pulse, rising 64% to 1.3p after it appointed a strategic adviser.

Peel Hunt has got the gig to provide directors with guidance on strategic initiatives, including selecting an appropriate reverse takeover candidate.

Motif said it is in discussions with several reverse takeover candidates in the healthcare sector. The company has until July 28 to engineer a reverse takeover, otherwise, its listing on AIM will be suspended.

9.30am: De La Rue off to strong start to new fiscal year

De La Rue PLC (LON:DLAR) shot up 37% to 55.69p in early trade on Monday after it said it had made a strong start to the new fiscal year.

The banknotes and passports printer has had a rough couple of years that has seen the shares slump from around 600p but this morning it boasted of a series of significant contract wins for both its Authentication and Currency divisions.

The company noted that the coronavirus pandemic had so far had little effect on the companys operations although a small number of Government Revenue Solution contracts have had their timescales extended.

Also on the up, Strategic Minerals PLC (LON:SML) has been awarded US$21.9mln in arbitration damages and costs, exclusive of additional interest, sending its shares 37% higher to 0.82p.

The decision of the arbitrator relates to a dispute centred around the companys Cobre magnetite operation.

The award comprises liquidated damages of US$4.2mln loss of profits of US$14mln, punitive damages of US$3.6mln, and arbitration costs of US$23,660.

Proactive news headlines:

Zoetic International PLC (LON:ZOE) said it has signed a multi-state distribution agreement with a new partner, BettermentRS, to market its Chill brand of cannabidiol (CBD) products. The cannabis products firm said the deal, which will see BettermentRS distribute Chill products among its network of outlets, is the latest development from Zoetics partnership with US firm Ox Distributing.

IQ-AI Limited (LON:IQAI) shares climbed on Monday after the companys subsidiary, Imaging Biometrics (IB), was awarded a US$2.57mln, five-year grant from the National Institutes of Health (NIH) – National Cancer Institute (NCI). The company said the funding will begin on July 1 with the primary purpose of optimising and validating multi-vendor quantitative perfusion tolls for the prediction of brain tumour response to therapy on a patient-specific basis.

Strategic Minerals PLC (LON:SML) has been awarded US$21.9mln in damages and costs, exclusive of additional interest. The decision of the arbitrator relates to a dispute centred around the companys Cobre magnetite operation. The award comprises liquidated damages of US$4.2mln loss of profits of US$14mln, punitive damages of US$3.6mln, and arbitration costs of US$23,660.

Feedback PLC (LON:FDBK) has revealed that Bleepa, its flagship imaging-based medical communications platform has achieved a CE Mark for Europe. Feedback said its directors' believe Bleepa, which allows clinicians to access medical-grade images through smartphones, tablets and desktops, is the only communication platform to address the UK market that has met Medical Devices Directive certification requirements. In a statement, Tom Oakley, the chief executive officer of Feedback said: "We believe that Bleepa is the future for communicating about patient care and is already changing the way in which clinicians discuss cases and process patients through the hospital system. The CE mark is an important milestone in its commercialisation and sets Feedback apart from other providers."

Thor Mining PLC (LON:THR)(ASX:THR) has entered into an exclusive option to acquire 100% of the shares in American Vanadium Pty Ltd, a private Australian company, with interests in uranium and vanadium focussed projects in Colorado and Utah in the United States of America. The company is also raising A$970,000 to facilitate the deal, including A$130,000 from Metal Tiger PLC (LON:MTR). American Vanadium Pty Ltd has 100% interests in 199 contiguous claims in the Uravan Mineral Belt in south-western Colorado, and 100 claims in south-eastern Utah approximately 40km north of the town of Moab.

Bahamas Petroleum Company PLC (LON:BPC) has posted full-year results highlighting the explorers relatively strong financial performance, as it awaits a hotly anticipated drill programme that was delayed amid the coronavirus (COVID-19) pandemic. Financial results for the twelve months ended December 31, 2019, confirmed BPC finished 2019 with US$11.2mln of cash. Subsequently, the company has further supported its funding position with an £8mln financing facility with a Bahamian private family office investor and the establishment of a separate Bahamian domiciled mutual fund to specifically investing BPC shares.

Tissue Regenix Group PLC (LON:TRX) said its OrthoPure XT product has been awarded a CE mark following a single-arm, non-comparative, prospective study undertaken over three years. The regenerative medical devices specialist said the CE mark has been awarded for revision of the anterior cruciate ligament following re-rupture and also permits use for the reconstruction of other knee ligaments, including multi-ligament procedures following trauma.

Braveheart Investment Group PLC (LON:BRH) said its subsidiary, Paraytec, and Sheffield University are to press ahead with the development of a proposed rapid coronavirus (COVID-19) test. The fund management and strategic investment group first alerted the market to the potential collaboration on 6 May when the Aptamer Group was also in the mix as a project participant; the project will continue without Aptamers involvement, Braveheart said.

AFC Energy PLC (LON:AFC) has announced it is to test its alkaline H-Power fuel cell technology at one of construction group ACCIONA's sites in Spain. ACCIONA is one of Spain's renewable energy leaders as well as being a construction group and is looking at ways to decarbonise construction across Europe, said AFC. Diesel generation from construction sites is a significant contributor to poor air quality, said AFC, and is likely to be increasingly regulated and enforced by governments. The trial will take place in early 2021 with both hydrogen and ammonia used for comparative fuel evaluation.

Faron Pharmaceuticals Oy (LON:FARN, First North:FARON) has said it will share previously published clinical data on its lead cancer drug at a leading industry conference. Safety and efficacy results from the MATINS trial are to be shared at the American Society of Clinical Oncology annual meeting, which is being held as a virtual event this year. The ASCO presentation will show Farons precision cancer immunotherapy Clevegen was well-tolerated without dose-limiting toxicities. A total of 30 people with advanced solid tumours who had exhausted all standard options took part in the first part of the phase I/II MATINS trial. The company said recruitment for part II was underway with patients undeterred by the coronavirus outbreak. Being assRead More – Source




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