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The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday. ---------- SMALL-CAP - WINNERS ---------- Pensana PLC, up 4.4% at 132.00 pence, 12-month range 144.50p-16.00p. The rare earths explorer says it is evaluating a potential listing on the Nasdaq Stock Market in the US, in addition to the listing on the London Stock Exchange. The board proposes to consolidate the share capital to prepare to meet any minimum share price requirements for a US listing. ‘There can be no assurance that the company will meet the Nasdaq initial listing standards or that listing approval will be received from Nasdaq,’ the firm notes. ---------- SMALL-CAP - LOSERS ---------- Bisichi PLC, down 20% at 89.50p, 12-month range 127.95p-82.00p. The mining company swings to a pretax loss of £2.1 million in the six months to the end of June from a profit of £5.0 million a year ago. Revenue rises 5.8% to £24.9 million from £23.5 million, but operating costs jump 45% to £26.6 million from £18.4 million. The firm says earnings were impacted by lower production and higher mining costs at Black Wattle, its South African mining operation. It says the lower overall commodity prices achieved by Sisonke coal processing, the firm’s coal processing operation, were offset by improved coal qualities and processing yields. Bisichi declares an unchanged interim dividend of 3p per share. ‘Looking forward into the second half of 2025 and 2026, we remain optimistic about the continued benefits from Black Wattle‘s improved coal qualities and the mining areas that we plan to move into. However, we are mindful of the current coal market volatility with lower seaborne coal prices, reflecting a temporary buildup in global coal supply and a slowdown in demand, that have impacted coal revenue in 2025 to date,’ says Executive Chair Andrew Heller. ---------- Roquefort Therapeutics PLC, down 20% at 2.03p, 12-month range 6.78p-1.08p. The biotechnology company says its pretax loss narrows to £532,024 in the six months to the end of June from £702,781 a year prior. It reports no revenue for the year, unchanged from the previous year. Administrative expenses fall 36% to £347,750 from £541,171. The firm says it plans to pivot away from its existing focus on pre-clinical assets to more mature clinical stage assets by completing the proposed acquisition of Coiled USA. The enlarged entity, to be renamed Coiled Therapeutics PLC, will focus on advancing clinical trials for the AO-252 therapy. ‘During the period Roquefort Therapeutics announced a new strategic direction to refocus from pre-clinical assets towards clinical stage assets with a clearer path towards value creation and we are pleased to have identified Coiled Therapeutics from A2A Pharmaceuticals as our transformational acquisition. Our focus for the remainder of the year is to complete the proposed acquisition of Coiled Therapeutics, which will potentially set the company up with two clinical stage assets: AO-252 and STAT-6,’ says Chair Stephen West. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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