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Small cap movers: Catenae Innovation rockets on coronavirus digital passports

Catenae Innovation PLC (LON:CTEA) ended the week with a blast, rocketing 147% higher to 1p on an announcement saying it will take part in the development of COVID-19 passports as the coronavirus pandemic continues to keep the UK in lockdown.

The Cov-ID will record whether individuals are unexposed, active or recovered from the virus by uploading results of swab and antibody tests. Sharing the data will allow individuals to freely roam in public locations, such as workplaces or social settings.

The digital media firm, which specialises in blockchain systems, is joining a consortium led by London-based think-tank Z/Yen Group. The partnership aims at creating and finalising a prototype in the next four weeks.

“The hard part of the project is social, gaining acceptance by government(s) and then society for a rapid rollout,” Z/Yen said.

As of now, there are no guarantees that Cov-ID will be commercialised nor that potential sales “will be favourable to the company”, Catenae pointed out.

Turning to the wider market, the shorter post-Easter trading week saw the AIM All-Share index rising 1% to 755, outperforming the FTSE 100, which instead dipped 1% to 5,774.

It was a difficult week for Anglo African Oil & Gas, which tanked 40% to 0.1p after being forced to sell its Congo business for £200,000 instead of the £1mln agreed initially.

The oiler, which is in the process of becoming a cash shell for new investment, agreed the reduction to avoid financial uncertainty, since there were complications in getting local authorities to approve the deal.

Turning back to the risers, NetScientific PLC (LON:NSCI) led the field with a 238% gain to 11p. The healthcare intellectual property group revealed that one of its portfolio companies, PDS Biotechnology, added a vaccine for coronavirus to an existing infectious disease development programme. Work is starting immediately.

N4 Pharma PLC (LON:N4P) soared 51% to 7p after receiving the initial quantity of coronavirus DNA needed to repurpose Nuvec, a product currently designed to deliver cancer treatments and vaccines to the correct areas of the body.

Meanwhile, radiation detection specialist Kromek Group PLC (LON:KMK) surged 49% higher to 23p on news it will manufacture medical ventilators for patients affected by coronavirus.

Unrelated to the pandemic, biomaterials developer Collagen Solutions PLC (LON:COS) jumped by 128% to 2p after the group said it had put itself up for sale, adding that it is in discussions with a “number of parties”.

Elsewhere, Diurnal Group PLC (LON:DNL) rose 14% to 30p after announcing it is continuing to supply its drugs, designed for patients with chronic hormonal diseases.

Neuroscience data analyst IXICO PLC (LON:IXI) headed 13% higher to 70p on the back of a new £10.5mln contract for a late-phase open-Read More – Source
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