(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Tristel PLC, up 15% at 417.2 pence, 12-month range 272p-430p. The maker of infection prevention, contamination control and hygiene products says the US Food & Drug Administration grants approval for the immediate sale of its Tristel ULT high level disinfectant. Plans to launch the product nationwide in the US in October, having introduced its intermediate level disinfectant, Tristel DUO, late last year. Will use Parker Laboratories Inc's national distribution network for the ultrasound market, having already established a manufacturing base with the New Jersey-based company. "This FDA approval enables our full-blown entry into the US ultrasound market and is a significant inflection point for the company," says Chief Executive Paul Swinney.
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Diaceutics PLC, up 14% at 91.5p, 12-month range 74p-117.93p. The Belfast-based testing laboratories company wins a three-year enterprise contract with an unnamed "top 10 global pharmaceutical company" based in the US. The contract will bring in USD10.1 million in revenue over its term, with options to "significantly" increase its scope and value. Revenue will be recognised monthly, with immediate effect. "The strength of our growing pipeline of new enterprise-level contracts highlights the progress made in becoming the primary commercialisation partner for pharma or biotech companies launching a new precision medicine," says Chief Innovation Officer Ryan Keeling.
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AIM - LOSERS
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DeepVerge PLC, down 21% at 0.414p, 12-month range 0.35p-17p. The Dublin-based environmental and life science group warns of a "significant risk" of a delay to its annual results for 2022, following the resignation of its auditor. Consequently, its shares would be suspended from trading in early July until the results are published. DeepVerge also says its financial position can no longer shoulder the costs of progressing with the Labskin and Skin Trust Club businesses, and associated elements of the Rinocloud businesses, which it now plans to downsize. It continues to explore various financing options, which could include an equity raise, and the sale of "one or more lines of business".
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BigBlu Broadband PLC, down 6.8% at 44.75p, 12-month range 36.1p-72p. The provider of alternative superfast and ultrafast broadband solutions throughout Australasia and the Nordics says revenue for the six months ending on May 31 is expected to be about GBP14.9 million, unchanged from a year prior. Like-for-like revenue growth on a constant currency basis however, is down to 3.1% from 15.1% in the comparative period. Looking ahead, says it is well-positioned for the second half of the financial year. CEO Andrew Walwyn says: "The overall performance of the group is in line with the board's expectations. We remain focused on realising value for shareholders."
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By Elizabeth Winter, Alliance News senior markets reporter
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Bigblu Broadb. (BBB)
Tristel (TSTL)