Movers of Wednesday 18 May 2022

See Today's Market Movers featuring Premier Foods, Arrow Exploration Corporation, N Brown and Tertiary Minerals

Pires Investments notes Sure Ventures’ growth in 1Q22

The technology-focused investment company Pires Investments (PIRI) has acknowledged a statement made by London-listed venture capital fund Sure Ventures regarding its portfolio. As reported in yesterday’s statement, during 1Q22, SVV's NAV per share increased from €1.33 to €1.47 which, in turn, has driven Sure Venture’s NAV per share to a price of 128.9p, representing an 8.9% uplift compared to its NAV per share at 31 December 2021 of 118.3p.

Argo Blockchain hails strong 4Q22 performance

The cryptocurrency mining firm Argo Blockchain (ARB) said it has continued to deliver a strong performance from its existing fleet throughout the first quarter ended 31 March 2022. Argo Blockchain generated $19.5m - compared with £14.9m in 2020 - of revenue in the 4Q, a 9% increase over the same period in 2021. This increase was primarily driven by Argo's growth in hash rate throughout 2021 and partially offset by lower Bitcoin prices in 1Q22.

Polarean Imaging prepares for commercial launch awaiting FDA approval

Polarean Imaging (POLX) said it built momentum in its strategy to advance its Xenon MRI lung imaging technology towards commercialisation during the year to 31 December 2021. Polarean has established a user fee goal date of 30 September 2022 as it focuses its efforts on building our commercial organisation to support a successful launch upon FDA approval.

Open Orphan’s hVIVO signs £7.3m influenza study contract

hVIVO, a subsidiary of the contract research organisation Open Orphan (ORPH), said it has signed a £7.3m influenza human challenge study contract with a leading biotechnology firm to test its antiviral product using its own hVIVO Influenza Human Challenge Study Model.

Abingdon Health signs contract to manufacture lateral flow device components

Abingdon Health said it has signed a significant contract with a European customer for the manufacture of lateral flow device (LFD) components for a COVID-19 antigen test. To begin with, the company will only manufacture the biochemical-sprayed nitrocellulose component of the lateral flow device, however there will be an option to expand that to other components.

4D Pharma underlines safety and potential efficacy of asthma drug at conference

The pharmaceutical company 4D Pharma (DDDD) has told investors that it will present an update from the phase I/II trial of its putative asthma treatment at an industry conference. he clinical results of MRx-4DP0004 treatment to date have shown the drug to be safe and well-tolerated with no treatment-related severe adverse events (AEs) or serious AEs reported.

Venture Life says it is seeing the “green shoots of recovery” with customers

Venture Life Group says the year to 31 December 2021 saw “significant growth” as the group built its presence with two immediately earnings enhancing acquisitions during the year. During the year, Venture Life Group made two immediately earnings enhancing acquisitions, utilising the funds raised - £34.1 million in total - from its shareholders back in December 2020, which the company states has positively impacted the results of the Group in 2022.

Nostra Terra says Fouke 2 production rates have exceeded expectations

Nostra Terra Oil & Gas said production rates at the Fouke 2 well located at the company’s Pine Mills oil field in east Texas have greatly exceeded internal expectations. The operator is now planning to request a substantial increase in the field allowable rate so that both the Fouke 1 and 2 wells at the oil field can be produced at much higher and more efficient rates.

Vast Resources repays outstanding bonds to Atlas Special Opportunities

Shares in Vast Resources jumped as high as 81% on Monday after it repaid in full the outstanding bonds owed to Atlas Special Opportunities following a subscription and placing. In practice, the company’s repayment means that Atlas no longer has any conversion or any right to call for the issue of Vast’s ordinary shares and removes any share dilution concerns.