Britain

Proactive news snapshot: AFC Energy, Jubilee Metals, AdEPT Technology, Amryt Pharma …

AFC Energy PLC (LON:AFC) has unveiled four new brands as its inaugural product line of hydrogen power technologies. The AIM-listed firm is launching HydroX-Cell(L), a zero-emission, high efficiency and low-cost alkaline fuel cell utilising a liquid electrolyte configured in 10 kilowatt (kW) modules, to be used in large scale industrial applications utilising lower grades of hydrogen.

Jubilee Metals Group PLC (LON:JLP) is to extend its rights over the chrome contained in the historic tailings at the Inyoni project in South Africa, in a deal valued at approximately US$16.4mln.The move comes after a major ferrochrome producer exercised its right to sell.

AdEPT Technology Group PLC (LON:ADT) has been granted “diamond” reseller partner status by US communications group Avaya, one of only eight such partners in the UK. AdEPT and Avaya have been cooperating for more than 20 years, with Avayas solutions forming an “important part” of AdEPTs product portfolio.

Amryt Pharma PLC (LON:AMYT) chief executive, Dr Joe Wiley, described as “momentous and transformational” the first nine months of the companys financial year. It is a period in which it completed the acquisition of Aegerion Pharmaceuticals Inc, which gave it full control of the Lojuxta cholesterol treatment.

Arc Minerals Ltd (LON:ARCM), the Zambian-focussed copper exploration and development company, has received additional near-surface, high-grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target in Zambia. Among the highlights were 1.44% copper over 20 metres from a depth of 34.5 metres and 1.2% copper 14 metres from a depth of 38 metres.

Verona Pharma PLC (LON:VRP) chief executive, Jan-Anders Karlsson has said he is “very excited” by the potential of the companys treatment for chronic obstructive pulmonary disease (COPD). Ensifentrine is an inhaled drug with a dual-action: it is both a bronchodilator – relaxes the lung muscles – and an anti-inflammatory. The second part of a phase II study of Veronas dry powder inhaler formulation met all of its primary and secondary lung function targets, or endpoints.

Cadogan Petroleum Plc (LON:CAD) has moved a step closer to renewing the licence for its main producing asset in Ukraine. The regional Council of Lviv has approved the application for a 20-year production license for the Blazhiv field (formerly Monastyretska) and has notified the licensing authority (SGS). This is the last of the intermediate approvals required for the SGS to issue its final decision on the Blazhiv field license award, said Cadogan.

Plexus Holdings Plcs (LON:POS) increased revenues but racked up higher losses as it adjusted following a switch in strategy last year. The profitable wellhead rental business was sold in 2018, which meant statutory losses rising to £3.3mln from £372,000 in the year to June. Revenues in the ongoing business rose to £3.61mln from £318,000, as the new strategy of licensing its wellhead IP gained momentum.

Sareum Holdings PLC (LON:SAR), the specialist small molecule drug development business, noted that Sierra Oncology, Inc. – the licence holder advancing its clinical cancer candidate SRA737 – revealed with its third-quarter results that it is conducting a campaign intended to seek non-dilutive strategic options to support the future advancement of SRA737, based on its decision to prioritise its resources on the development of its lead candidate momelotinib.

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