Diagnostics continue to surf the rollercoaster of the pandemic / post-pandemic period, something which has been underlined by the latest update from Omega Diagnostics (ODX) on the occasion of the company’s results to the year ending in March.
By Zak Mir
Here the highlights have included Chinese regulatory approval of Food Detective® test for both laboratory settings and self-test use, a supply agreement signed with Clinton Health Access Initiative (CHAI) to accelerate access of VISITECT® CD4 Advanced Disease in low and middle-income countries and VISITECT® CD4 Advanced Disease test receiving WHO prequalification. Revenue decreased by 11% to £8.73m (2020: £9.82m), with an EBITDA loss of £2.20m (2020: £0.89m profit). Omega is still sitting on £5.8m in the bank.
Clinical stage drug development company Evgen Pharma (EVG) announced that preclinical data demonstrating that SFX-01 was effective in in vitro models of certain blood cancers. The data was generated by Dr Eleni Louka and Professor Adam Mead of the MRC Weatherall Institute of Molecular Medicine at Oxford University. Although this data was from a small sample size, the company was encouraged to observe a statistically significant effect in reducing cell proliferation and increasing apoptosis. Evgen said it is now assessing the optimal preclinical and clinical strategy for a development programme of SFX-01 in blood cancers such as JMML and AML.
Medical device developer Belluscura (BELL) has been one of the more followed new entrants on the stock market given the spin off from Tek Capital (TEK). It unveiled the signing of its third distribution agreement and first agreement with a durable medical equipment provider, for its X-PLO2R™ portable oxygen concentrator portfolio. Belluscura said this is the next stage in establishing US-wide distribution coverage as part of the Group’s commercialisation strategy. The provider, a DME located in the upper Midwest US, has multiple stores in several states and an online store. The distributor issued its first purchase order with anticipated delivery of the X-PLO2R™ portable oxygen concentrator expected in less than ninety days. Belluscura’s plan is to appoint distributors in the US to give US-wide coverage for the launch of the X-PLO2R™ over the next year.
Fast growing Georgia oil and gas play Block Energy (BLOE) revealed a Q2 operational update. The highlights here were the Spud of WR-B1 well in Georgia at the end of Q2, with the planning of a second well continuing with location and timing to be finalised. The Company produced a combined total of 42.6 Mboe of oil and gas during Q2 2021, selling 15.6 Mbbls of oil during Q2 2021 for $960,000, and selling 64.6 MMcf of gas during Q2 2021 for $209,000. The company said it had ended the quarter with $5.4 million cash at bank. Going forward CEO Paul Haywood said the WR-B1 well will also play a vital role in the second well in the campaign as critical WR-B1 drilling information will be used to mitigate risk and optimise the programme of the next well.
Cyprus focused Caerus Mineral Resources (CMRS), updated on progress with the Jubilee Metals (JLP) Group Option Agreement, in which Jubilee can elect to convert any of the multiple ‘Waste to Revenue’ candidate sites within Caerus’ portfolio into a Joint Venture. Both parties have committed to an immediate pilot sampling and investigation programme which is to be managed on-site by Caerus personnel using JLP protocols. The programme aims to make up time lost due to COVID-19-related travel restrictions. Laboratory mineralogical and metallurgical studies will precede a site visit by key Jubilee management, provisionally planned for mid-September.
Xtract Resources (XTR) reported on results of a MIMDAS IP geophysical survey at the Footrot prospect on the Bushranger copper-gold exploration project, located in the Lachlan Fold Belt of New South Wales, Australia. The company said that a MIMDAS IP geophysical survey has just been completed across the Footrot prospect, 7km southeast of Racecourse, indicating a large chargeability anomaly extending for over 1km on a similar N-NW trend to Racecourse. Xtract said such chargeability anomalies at Racecourse are related to strongly developed pyrrhotite-pyrite mineralisation with associated copper. The data is to be fully reviewed with the aim of siting a reconnaissance drill hole to test the target as part of the Phase Two drilling programme at Bushranger.
Online threat hunter Brandshield Systems (BRSD) has been able to announce yet another contract win, this time with the merchandising company of a celebrity franchise. BrandShield said it has been selected by the customer to deal with the online abuse of its brand and sales of counterfeit merchandise related to the celebrity, which are performed through copyright and trademark infringements and impersonation. The customer will use BrandShield’s capabilities in detecting brand abuse across standalone websites, eCommerce marketplaces and social media networks. BrandShield added that it is seeing an increased demand for online brand protection and online threat hunting from celebrities, social media Influencers, content creators and artists, partially connected to the increasing influence of social networks as well as the increasing prevalence of ‘Gated’ social networks.
On the Aquis market medical psychedelic group DiscovORE (ORE) provided a commercial update regarding the execution of a period of exclusivity and conditional investment agreement with Sirgartan Therapeutics. Sirgartan is developing a novel glutamatergic therapy that could make a significant difference in the treatment of obsessive-compulsive disorder, and is then looking to augment it with a psychoactive compound as a co-therapy.
Premium spirits company Rogue Baron (SHNJF) said its original bar, Bin 1301, once again saw record sales in June. The Bar produced around $95,000 in unaudited sales over the month. This total was nearly 19% higher than the Bar’s previous record high, March of this year, and roughly 32% higher than any month ever before Covid. The record sales for the month were achieved with eleven days still under Covid restrictions. On June 11th the Washington DC government lifted all of its Covid restrictions.
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