Intriguingly, since the arrival of vaccines for COVID-19, the virus has been canny enough to mutate into an increasing number of variants. A potential antidote to this state of affairs was served up by Tiziana Life Sciences (TILS) as the biotech group reported positive data from the clinical study of nasal administration with Foralumab, its monoclonal antibody, in COVID-19 Patients in Brazil. The highlight here was that Foralumab rapidly suppresses lung inflammation, with an improvement of up to 80%. The other major plus point nasal administration of Foralumab can be done at home by patients. The benefit to the Tiziana share price was a gain of up to 20% at best during the session, helped by fresh coverage by Zacks Small Cap Research, and B Riley’s Reiterate Buy note with a $8 target versus the $4 level currently in the US.
Sticking with the COVID-19 related space, and it was another strong session for Genedrive (GDR) as investors continued to gush over last week’s distribution agreement with Beckman Coulter for COVID-19 PCR testing. This covers Europe and the United States, but with the ongoing sizzle for Genedrive shareholders being that we are likely to be in the run up to fresh orders / contracts / partnerships and further approvals. Shares of Genedrive spent most of the day up 20% or more.
While the penny may not have quite dropped as far as the benefits of Edtech, even at a time of homeschooling, the share price of Dev Clever (DEV) continues to improvement, with the latest RNS from the career guidance / development platform company triggering another 20% plus gain. This was achieved off the back of the latest news regarding an equity subscription agreement raising up to £10m. Dev Clever said it was pleased regarding this latest institutional investment, and the way it will help the company advance its ambition to be one of the leaders in the Edtech space.
Although Marechale Capital (MAC) describes itself as an established corporate finance firm providing strategic, M&A and advisory services, it is effectively the speculative stock of the moment, as trader sniff out fresh developments after last week’s fundraise. Perhaps the main kicker though is the observation that Marechale has the lowest market cap amongst serial stock market entrepreneur Chris Akers stakes. Shares of MAC powered ahead by over 30%.
Much followed group Vela Technologies (VELA) announced that it has agreed to invest £150,000 in Spinnaker Opportunities, as part of Spinnaker’s placing and subscription to raise £6.0 million ahead of its reverse takeover of Kanabo. Kanabo Group is set to establish a range of unlicensed medical cannabis oils, to be sold alongside its vaporisation device, the VapePod Medical. Its admission to the main market of the London Stock Exchange is expected to take place on 16 February 2021, by which time all will be revealed as to the merits of Vela’s investment is what will be the first medical cannabis company listed in London. Admittedly,the LSE is known for being on the conservative side. Shares of Vela edged up 1%.
It appeared that momentum was finally building at Oracle Power (ORCP), the international natural resources and power project developer in terms of its flagship Thar Block VI project in Pakistan. Oracle said that its Consortium Partner, China National Coal Development Company have now jointly submitted a policy proposal for coal-to-gas and coal-to-liquid development in Pakistan to the Ministry of Energy. This could be fast-tracked in order to address Pakistan’s critical gas shortage and continued reliance on imported liquid fuels. Oracle said it now looks forward to discussions with the Ministry in order to finalise the Commercial Framework.
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