C4X Discovery Holdings shares rise 14.63% to 23.5p on US$400m licensing deal with AstraZeneca
C4X Discovery said it signed an exclusive licensing agreement with AstraZeneca worth up to $402m for its NRF2 Activator programme.
C4X Discovery explained AstraZeneca would develop and commercialise an oral therapy for the treatment of inflammatory and respiratory diseases with a lead focus on chronic obstructive pulmonary disease (COPD).
Under the terms of the agreement, C4XD will receive pre-clinical milestone payments worth up to US$16m ahead of the first clinical trial, including US$2m upfront. In addition, C4XD is eligible to receive a further potential US$385.8m in clinical development and commercial milestones, and tiered mid-single digit royalties upon commercialisation.
Yü Group shares rise 13.10% to 380p as it sees FY22 results "significantly ahead" of market forecasts
Yü Group announced "exceptional" trading performance in FY22, set to continue into FY23. Yü said its revenue, adjusted EBITDA, and operational cashflow were all expected to significantly exceed current market forecasts for FY22.
Yü upgraded its forecast after it saw record average monthly bookings from new and existing customer contracts over the past 3 months, resulting in expected revenue of approx. £260m for FY22. This represents a c. 67% annual growth rate.
Yü said EBITDA profitability was also set to continue its trajectory, with 2H22 expected to exceed the 2.1% achieved in 1H22. EBITDA growth was driven by strong demand and efficiencies enabled by the company's "Digital by Default" initiative.
Operational cash flow remained strong, supported by the increased EBITDA and robust customer collection performance, with overdue customer receivables remaining stable and proportionate to the growth of the business.
As a result, Yü now expects net cash on 31 December 2022 to significantly exceed market expectations.
Yü shares are now up 79% over the past 6 months and up 45% YTD. Yü will provide a full FY22 trading update and outlook for FY23 in January 2023.
Rockfire Resources shares rise 8.70% to 0.19p as it reports high concentrations of Zn, Pb, and Ag at Molaoi
Rockfire Resources said it has received high-grade results from old workings at its 100%-owned Molaoi zinc-lead-silver-germanium deposit in Greece. Rockfire reported concentrations of Zinc up to 25% Zn, lead up to 16.8% Pb, and silver up to 498g/t Ag.
Rockfire reported highest results from the "Kalamaki" prospect where a JORC resource exists of 2.3Mt @ 9.4% Zn, 1.7% Pb, and 47g/t Ag. Rockfire is currently drilling in the Kalamaki area.
Rockfire said geotechnical drilling at the project's main resource area of Kalamaki was progressing well.
David Price, CEO of Rockfire, commented:
"These rocks have returned very good results. Being from the spoils (waste) around the opening of old workings, it is testimony to the high grades of zinc, lead and silver encountered during historical mining.
Several high-grade results were obtained from outcrops with no historical mining. This emphasises the quality of targets to the north and northwest of the main resource area. Some of these targets have been drilled previously by the Greek government and encountered high-grade zinc, lead and silver in drilling.
Our inaugural geotechnical drilling is underway at Molaoi and progressing very well. The market will be informed regularly as our drilling programme progresses."
Windar Photonics shares soar 87.50% to 15p as it resumes trading on AIM
Windar Photonics shares resumed trading in London, following publication of the company's final results for the year ended 31 December 2021 (FY21) and interim results for the 6 months to 30 June 2022 (1H22). Windar shares had been suspended since 1 July on account of the delay in releasing its accounts.
Windar reported a pretax loss of €1.4m in FY21, down from €1.6m in 2020. In 1H22, the pretax loss narrowed further to €880K as revenue increased to €420K from €306K.
Windar also successfully raised €2.4m at an issue price of 15p/share. 12 million placing shares are expected to be admitted to AIM on 1 December.