In any field, the validation of one’s peers is always a highlight, especially when such peers are generally acknowledged as being at the summit of that particular space.
By Zak Mir
This is what we have just seen as far as hVIVO, a subsidiary of pharma services group Open Orphan (ORPH). The honourable mention in question came within Pfizer’s latest quarterly update in which CEO Albert Bourla noted that one of the highlights of the quarter was the “Successful Phase 2a human challenge trial with RSV Adult vaccine candidate.” hVivo was the sponsor to the trial. Open Orphan share rose 3% in the wake of this revelation.
The low for shares of biotechnology company Tiziana (TILS) in May was 69p, and it has been interesting in recent sessions how support for the stock has repeatedly come in at this level. This may indicate that a base is finally in for bulls of the company. The last meaty biotech news from Tiziana was at the end of June was that it has signed an agreement with FHI Clinical, a global clinical CRO, to conduct a Phase 2 Proof-of-concept study in Brazil to evaluate the safety, tolerability and efficacy of intranasal Foralumab in hospitalized patients with severe coronavirus disease 2019 (COVID-19) and pulmonary inflammation. One would assume that we are due a fresh RNS in this vein soon. Last month we learnt that the Forms 20-F and F-6 filed by Accustem Sciences with the SEC have been declared effective, enabling the completion of the in specie distribution and spin out of Accustem Sciences, the leading breast cancer diagnostic.
Another Gabriele Cerrone company was actually updating the market, in the form of Okyo Pharma (OKYO), a preclinical biopharmaceutical company developing next-generation therapeutics for inflammatory eye diseases and ocular pain. It announces final audited results for the year ended 31 March 2021, saying that it will be moving forward with plans to file an IND in the third quarter of 2022 on OK-101 to treat DED. To support this work it will be using a CRO specializing in ophthalmic drug development. Over the next year, Okyo said it will be continuing to conduct preclinical studies and additional animal studies to further evaluate the OK-201 preclinical candidate to treat corneal neuropathic pain.
Another company where we are perhaps overdue for a rally is natural resource development company Contango (CGO). The last we heard here was on July 20 when it updated on its scheduled work programme at the Garalo-Ntiela Gold Project Area in Southern Mali. Aeromagnetics and airborne geophysics for the collection of magnetic and radiometric data started last month and results from the survey were expected in early August 2021. The run up to this news may explain the initial strength in Contango shares to start the week.
The seemingly blow by blow updates from Xtract Resources (XTR) continued to start the week. The latest here is that the company said Hole BRDD-21-007 was extended beyond the planned depth as the mineralisation in this hole was more persistent than anticipated. The next two holes in the current drilling phase have already commenced, with BRDD-21-010 progressing beyond 200m, with copper mineralisation already evident.
Those who like to dig deep for opportunities on the stock market – usually this means sniffing around the Aquis market, will have enjoyed the latest from DiscovOre (ORE). The company announced that Burns Singh Tennent-Bhohi, Non-Executive Chairman, bought 500,000 ordinary shares at 2.25p. This takes his stake up to 3.32p. Speculation among the market cognoscenti has been growing around the company’s move into Medical Psychedelics, via a three-pronged investment strategy, consisting of Investment Partnerships & Agreements: Pre-Clinical & Clinical Trials, Pre-IPO Opportunities and Seed Capital. They also note experience at Astrazeneca as far as Non Executive Director Vincenzo Garyza, and the presence of biotech titan Sir Professor Christopher Evans OBE on the Board of investee company Angelfish Investments as Executive Chairman. To top things off investing company Gunsynd (GUN) bought £200,000 of ORE shares in April at 2p, and will have been helped along by the latest 30% rise in ORE.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
