Welcome to taking stock on....Tuesday 25th July 2023
Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:
Can you get excited about investing in big companies? John can, sort of, Justin can’t. Companies mentioned: N4 Pharma WANdisco Destiny Pharma Greatland Gold hVIVO EQTEQ Diaceutics Unilever Yü Group PLC Altitude Group The Pebble Group
WINNERS
N4 Pharma - Patent Grant and Board Change
The University of Queensland has informed the Company that it has been notified by the US patent attorney of the granting of its further patent application in relation to Nuvec® in the United States.
N4 Pharma has licensed the exclusive worldwide rights to Nuvec® from the University of Queensland for therapeutic uses in humans and animals.
This granted patent in the US is for the composition of matter of the nanoparticle itself and will sit alongside the first US patent grant announced on 31 January 2022, which concerned how the nanoparticle is made using a broad description of the manufacturing process used by the Company.
LOSERS
AIM - Restoration - WANdisco
3 July 2023 - Launch of Fundraise
WANdisco plc (the "Company" and together with its subsidiaries, "WANdisco" or the "Group") (LSE: WAND), the data activation platform, today announces it is undertaking an equity fundraise (the "Fundraise") to raise gross proceeds of $30 million at a price of 50 pence per share (the "Offer Price").
Most Followed
Destiny Pharma - Appointment of new Chairman
Destiny Pharma announces that Sir Nigel Rudd will be returning as Company Chairman, effective immediately.
Sir Nigel has an impressive track record in creating value for shareholders in a variety of business sectors. He has chaired the Business Growth Fund (supporting growth in many SMEs), Heathrow, Alliance Boots, Signature, Pilkington, Meggitt, and a number of other major companies. He was also Deputy Chairman of Barclays Bank for a number of years. Sir Nigel was previously Chairman of Destiny from 2010 to 2018 and led its flotation on the London AIM market.
Most Read RNS
Greatland Gold - Exploration and Havieron Development Update
§ Scallywag: diamond drilling has been completed at the A35, A34, Swan, Pearl and Ramses targets; currently awaiting assay results
§ Paterson South: completed maiden drilling campaign with five RC holes at Decka and a single diamond hole at Stingray; currently awaiting assay results
§ Havieron decline development: significant progress continues with total development to date now at 2,510 metres (as at 20 July 2023); the decline has successfully progressed past the middle aquifer, which is a significant de-risking event for the decline development
RNS Worth Reading
hVIVO - Flu B challenge model
Highlights
· Key prerequisite phase of manufacturing virus is complete
· Characterisation trial due to commence in Q4 2023 following completion of manufacturing process
· Supplementary fee to ensure expedited delivery and guaranteed availability of beds
· Potential for a future challenge trial pending a successful characterisation study
Top Business Stories
Unilever: Marmite maker's profits soar as regulator looks for evidence of grocery greed
The company behind many popular consumer brands including Marmite and Magnum ice creams has revealed a surge in profits, as the UK's competition regulator seeks evidence on whether shoppers are getting a raw deal at the tills.
Unilever, which also includes brands such as Domestos and Hellmann's in its stable, reported a 20% rise in net profits to €3.9bn (£3.4bn) over the first half of its financial year.
Underlying price growth for the second quarter was 9.4%, while underlying sales volumes fell by 0.2%, the company said.
UK recession risk just got a whole lot lower after inflation undershoot
Bank of England Governor Andrew Bailey would not have been the only person in the City last week breathing a sigh of relief after the better than expected inflation numbers.
It was the first time the Office for National Statistics’ calculations have undershot analysts’ forecasts since January’s numbers. It was also the first time the Bank has nailed its own projections in ages.
Just six of the last 18 inflation prints have come in lower than market expectations, according to calculations by investment bank Nomura.
Virgin Media O2 to cut more than a tenth of UK jobs
Mobile operator Virgin Media O2 is to slash up to 2,000 UK jobs, or 12% of its total workforce, by the end of this year.
The figure includes 800 role reductions that were already announced, the BBC understands.
A company spokesperson acknowledged that any period of change "can be difficult".
It comes after its rivals BT and Vodafone both announced in May that they were also cutting jobs.
Earlier this year, BT, which is the UK's largest broadband and mobile provider, said it would shed up to 55,000 jobs by the end of the decade, mostly in the UK, as it cuts costs.
Up to a fifth of those jobs will be replaced by technologies including artificial intelligence, the firm said.
The move came shortly after Vodafone said it would axe a tenth of its staff over the next three years, equating to 11,000 jobs.