|
The following stocks are the leading risers and fallers among London Main Market small-caps on Monday. ---------- SMALL-CAP - WINNERS ---------- New Frontier Minerals Ltd, up 5.3% at 1.10 pence, 12-month range 1.10p-0.36p. The minerals exploration company finalises the maiden reverse circulation drill programme at the Harts Range heavy rare earths project in the Northern Territory of Australia. The firm says recent correspondence from the mining regulator indicates that approval to start the drilling campaign is imminent, with logistics planning ‘progressing well’. The campaign’s focus is to understand the extent of heavy rare earth mineralisation, especially dysprosium and terbium. ‘Finalising the drill targets for the upcoming campaign at the Harts Range Project marks another important milestone for NFM,’ says Chair Gerrard Hall. ‘The board considers the delineation of these targets within only 12 months to be a significant achievement within what it believes is a highly compelling heavy rare earth system.’ ---------- SMALL-CAP - LOSERS ---------- Roquefort Therapeutics PLC, down 15% at 1.58p, 12-month range 6.78p-1.08p. The London-based biotechnology company agrees to out-license its MK Cell patents to Pleiades Pharma for up to $25 million in milestone cash payments, with a royalty payment obligation. The royalty payment obligation is for a 1.5% perpetuity royalty on all global net sales of products derived from the licensed technology. In February, Roquefort agreed to sell its subsidiary Lyarmid to Pleiades for up to $110.8 million. Completion of the agreement was contingent on Pleiades completing a fundraising round by the longstop date of last Friday. On Monday, Roquefort says the current longstop date did not allow sufficient time for Pleiades to complete its fundraising round. It agrees to extend the longstop date to January 31, 2026. ‘We have outlicensed the MK Cell program to Pleiades providing significant upside exposure to the company’s existing shareholders and convertible note holders. This provides Roquefort Therapeutics with the clarity to focus on completing the proposed transformational acquisition with A2A Pharmaceuticals and Coiled Therapeutics,’ says Chair Stephen West. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
