Small Cap Feast

Small Cap Feast – 14 May 2020

Dish of the Day:

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What’s Cooking in the IPO Kitchen?

The pantry is empty, again!

 

Breakfast Buffet

Iofina 13.7p £26.3m (IOF.L)

The specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today announces its subsidiaries Iofina Chemical Inc., and Iofina Resources Inc., have received loans totalling US$1.09m under the US Small Business Administration’s Paycheck Protection Program

 

Byotrol 5.5p £24.2m (BYOT.L)

New technology license over Byotrol24, the EPA registered long-lasting germ kill sanitiser spray, with a consortium of investors and experienced market professionals under the umbrella of Integrated Resources International LLC, based in Tennessee.

Further “our last trading update included reference to ‘a material but delayed new license contract that was eventually closed in mid-April.’  Having now completed legal formalities, we are pleased to announce this agreement is a multi-year license agreement with SC Johnson Professional Ltd in alcohol-free hand sanitisers.”

“Sales in March and April 2020 each exceeded £1m and we are expecting to show similarly strong performance in May. Our order book at the end of April stood at over £2m.”

 

Tiziana Life Sciences 97.5p £157m (TILS.L)

Tiziana Life Sciences Announces Data Demonstrating StemPrintER’s Superiority Compared to OncotypeDX in Providing Prognostic Information to Conventional Clinical Parameters in Breast Cancer Patients in Poster Discussion Session at the American Society of Clinical Oncology (ASCO) Virtual Conference.

Additional data to be presented validating the SPARE Model for Distant Metastasis Prediction utilising the Company’s StemPrintER Platform.

 

Mineral & Financial 7.75p £2.7m (MAFL.L)

Quarterly update.  Net Asset Value as at 31 March 2020 was £5,333,187, up 10.4% yr/ yr from £4,832,434

  • Net Asset Value Per Share (FD) at 31 March 2020 was 15.1p, up 10.6% vs. 13.6p a yr. ago.
  • Global impact of COVID-19 affected NAVPS Q3 performance negatively by -0.6% vs Q2.
  • Significant overweight of precious metals partially helped protect the NAV performance.
  • Stronger US dollar protected portfolio performance despite market turmoil.

 

Ceres Power 430p £732m (CWR.L)

The specialist  in fuel cell technology and engineering, announces the appointment of Mark Garrett as Chief Operating Officer joining the Executive Management board, effective from 10 August 2020.

 

Mark joins Ceres from Ricardo plc, where he held various positions including Chief Operating Officer and Group Strategy Officer. During his time at Ricardo, Mark led both the US and European automotive divisions as well as establishing Shanghai Automotive’s UK Technical Centre. Before joining Ricardo in 1998, Mark spent his early career with Rover Group leading the development of powertrains for the MGF and BMW Mini.

 

React Group 1.35p £5.6m (REAT.L)

REACT has been awarded a contract to provide specialist deep cleaning services on a regular basis to one of its Tier-1 Customers operating in the rail sector.  This is part of essential services and not COVID-19 related.

The initial contract, worth approximately £400k, will run for a period of 35-weeks through to the end of the calendar year and is incremental to the work REACT carries out for this customer on a regular basis.

 

Minoan Group 1p £4.4m (MIN.L)

Preliminary Results for the year ended 31 October 2019 . Highlights

  • Discussions with “anchor” developers and hospitality partners
  • Successful Placing and Open Offer in May 2019
  • Continuing reduction in costs
  • Overall Group loss reduced by circa £1,000,000 to £2,077,000 (2018: £3,022,000)
  • Total equity at 31 October 2019 of £42,257,000 (2018: £40,596,000)

Although Covid-19 has stopped the 2020 season in its tracks the Greek tourist industry is expecting 2021 to represent a major step towards a new normality. One of the changes that Covid-19 has led to is a perceived change at the top end of the market, at which the Project is focused.  Indeed there is a suggestion that going forward, space and the option and ability to maintain social distancing are attracting enhanced values and the Project is ideally suited to these changing requirements.

 

ImmuPharma 19.6p £32.6m (IMM.L)

Notes the results of a recent study conducted at Emory University Atlanta GA,  suggesting that Covid-19 (SARS-COV-2) patients and systemic lupus erythematosus (SLE) patients experiencing flares might share similar inflammatory symptoms, underpinned by similar mechanisms (role of cytokines). Lupuzor ™ is a modulator of the immune response and an anti-inflammatory agent, which has activity against SLE (lupus), an autoimmune disease, as well as against other inflammatory diseases. ImmuPharma, together with its US licencing partner, Avion Pharmaceuticals, will be progressing  Lupuzor ™ into a new optimised international Phase III trial this year in lupus patients.

 

MaxCyte 180p £103m (MXCT.L)

The global clinical-stage cell-based therapies and life sciences company, announces that clinical data from the first three cohorts of the ongoing Phase I dose-escalation trial demonstrating safety of MCY-M11 and feasibility of one-day manufacturing  will be shared at the American Society of Clinical Oncology’s (ASCO) upcoming annual meeting. The ASCO20 Virtual Scientific Program will be held May 29-31, 2020. As previously announced, dosing began in October 2019 in the third cohort in MaxCyte’s Phase I dose-escalation trial with MCY-M11 and there have been no dose-limiting toxicities or related serious adverse events observed in the three completed cohorts. A fourth dosing cohort commenced in March 2020 as expected. Preliminary clinical results for the trial are expected to be announced in H2 2020.

 

Mountfield Group 1.15p £2.9m (MOGP.L)

Subsidiary CAF has won a contract with a value of £1.2m to install 30,000m2 of raised access flooring for a commercial office refurbishment project at Canary Wharf, London.

Installation works are due to commence in May and are expected to be substantially completed by the end of June 2020. The project is currently live on site and methods of working and safety procedures have been tailored to meet the requirements introduced to protect site workers against the impact of COVID-19.

 

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Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

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