STOCK MARKET NEWS – RNS HOTLIST
RNS Hotlist: May 17 Ananda, Chaarat, Hardide, Pantheon Resources
Ananda Developments plc (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, announced that its wholly owned subsidiary MRX Medical Limited, has filed four patent applications with the UK government’s Intellectual Property Office. ANA said the filing of these patent applications is an important step as we build Ananda. The company said its patent applications will protect the company’s intellectual property and help to build value for shareholders.
Comment: Ananda continues to drive its 2023 transformation both in terms of the fundamentals and the share price, with the latest patent news. It is also clear that we have seen a much more 21st century attitude towards medical cannabis, especially in the aftermath of the pandemic.
Oxford Cannabinoid (OCTP) announced that the MHRA and the Wales Research Ethics Committee 2 have approved the company’s combined Phase I clinical trial application for OCTP’s lead drug candidate, OCT461201. The company said that getting OCT461201 into the clinic so soon after its listing is a huge achievement and is a fitting testament to the hard work and dedication of both OCTP’s talented team and its external partners, Aptuit (Verona) SRL, a subsidiary of Evotec SE, and Simbec-Orion. It is moving ever closer to achieving its core aim of improving the lives of patients living with debilitating pain, whilst also, ultimately, delivering value for shareholders.
Comment: The nod from the MHRA is a bid deal for OCTP as is of course a Phase 1 trial green light. It is pleasing that one of the big medical crises of our time – pain relief, is set to be treated in a novel way.
Hardide (HDD), the developer and provider of advanced surface coating technology, announced its results for the six-month period ended 31 March 2023. The company said that it performed well in the first half, with revenues up 9% from H1 FY22 and 22% higher than H2 FY22. This reflected improving market conditions in the oil & gas sector, new project wins and the recovery of input cost inflation in selling prices. It was pleased to deliver an EBITDA breakeven performance for the period, bringing it closer to achieving its strategic milestone of becoming EBITDA and operating cash flow positive.
Comment: At least a pat on the back is in order for any small cap company to get into the black in the current environment. Such events clearly underline the strength of any business at the moment.
Pantheon Resources (PANR), the AIM-quoted oil and gas company, announced the results of the Fundraise and Retail Offer which was announced yesterday. The Fundraise was oversubscribed and the Company, having taken into account the strong support received from existing and new investors, decided to increase the size of the Fundraise, and when combined with the Retail Offer, raised gross proceeds of approximately $22 million.
Comment: While many in the small cap area currently complain about the lack of liquidity for fund raises and IPOs, it would appear that there is still cash around for situations like PANR.
Chaarat Gold (AIM: CGH), the AIM-quoted gold mining company, announced the signing of a non-binding LOI and an indicative term sheet with Xiwang International Company Limited for a potential equity investment of $250 million. The Investment would be used to develop Chaarat’s organic pipeline and external growth through value-added acquisitions. The Investment would be in the form of a new issue of shares in Chaarat at a price of £0.20 per share resulting in Xiwang holding 60% of the shares in Chaarat.
Comment: This is the type of transformational news for Chaarat that followers of the company will have been waiting on for quite some time. It should be the starting gun for the company rolling out its strategy in an significant way.
Cellular Goods (CBX) announced that it has commenced selling its ‘Look Better’ (skincare) range and selected products from its ‘Gift Better’ (gifting) line on Sephora.co.uk. Ten products in total are available, ranging in price from £32 to £99 each. The launch is part of the company’s strategy to drive revenues by expanding its online sales channel with major retail brands. CBX said it was thrilled that our Look Better and Gift Better ranges are on sale at Sephora, and was excited to be working alongside them to bring its next-generation skincare products to a wider audience.
Comment: We await the stampede of punters ready to spend between £32 and £99 on next-generation skincare products. Clearly, Oil of Olay has had its day.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.