Trustpilot Group (TRST) shares ticked up 5.92% to 368.2p as revenue grows 31%
In a 1H21 trading update, Trustpilot said it expects to report total revenue of $62m for the period - that’s about 31% growth over the prior-year period, or c.+22% at constant currency.
The Company said it expects to report 1H21 annual recurring revenue (ARR) of $134m, compared to $99m in the prior year, representing about 27% constant currency growth.
After feeling the effects of the COVID-19 pandemic in 1H20, Trustpilot said the subsequent re-acceleration in its business has continued into 1H21, as anticipated, which has resulting in bookings growth of c.+37% over the prior-year period, or c.+28% at constant currency.
As a result, the Company told investors on Monday that it reiterates its guidance for high-teens constant-currency revenue growth for FY21, in line with FY20 bookings growth.
Star Phoenix (STA) shares soared 32.14% to 1.85p as it eyes up H2 opportunities in Australia
Today, the Company announced that it has signed a non-binding agreement with a national university in Australia, which is said to be ranked within the top one percent of universities worldwide in the Academic Ranking of World Universities Curtin University, to jointly explore, appraise and develop natural Hydrogen ("H2") opportunities across Western Australia.
Some of the proposed terms of the arrangement include, amongst other things, developing a clean, decarbonated energy play as well as a potential two-year work programme (the intention is this will be funded by the Company) aimed at establishing production potential.
Star said the main objective of the proposed work programme would be to identify production points of H2, specifically in areas having a high iron-rich content and circular depressions.
The Directors believe the populated areas near Perth in Western Australia could represent a ready marketplace for the sale of natural H2, with minimal infrastructure cost, although the Company added that at this stage the economics of this proposal have not been explored.
QUIZ (QUIZ) shares jump again by 16.66% to 13.85p as sales fall in line with expectations
In an update for the period between 1 April 2021 to 30 June 2021, the omni-channel fashion brand reported £17.3 million in sales which it said is consistent with the Board's expectations and represents a £13.1m increase on the revenues generated in the comparable prior year.
Sales through QUIZ’s websites was £4.6m (FY20: £2.2m) with revenues steadily improving. Meanwhile, sales through third party websites totalled £1.8m with this channel impacted by the cessation of sales through the Debenhams website from early April 2021 (FY20: £1.2m).
‘The Group looks forward to the further relaxation of restrictions on social activities, which the Board believes will result in increased demand for QUIZ's ranges which have traditionally provided popular options for social events and celebrations,’ the Company informed investors.
Evgen Pharma (EVG) shares rose 10.04% to 5.15p as it advances use of SFX-01
The drug development firm has filed an Orphan Drug Designation Request with the US FDA for use of SFX-01 to treat malignant glioma, a tumor that occurs in the brain and spinal cord.
To date, preclinical data has proven that SFX-01 can produce tumour shrinkage and significantly extended survival times. In addition, SFX-01 was also found to substantially increase the therapeutic effect of radiotherapy in subcutaneous and orthotopic models.
It is expected that, if granted, Orphan Drug ("OD") status would be conferred for SFX-01 in the US this year. In parallel, Evegen said an Investigational New Drug dossier is also being prepared for submission to the US FDA around the end of the year in order to support a Phase II trial in glioma/glioblastoma that is being planned for commencement in H1/2022.
In a separate statement, Evgen reported that SFX-01 has shown some very early promise as a potential leukaemia treatment and was effective in in vitro models of certain blood cancers.
Whilst this is preliminary data from a small sample size, the Group said it was encouraged to observe a statistically significant effect in reducing cell proliferation and increasing apoptosis.
Dr Huw Jones, CEO of Evgen Pharma, commented: "The data from Oxford and Queen Mary's shows a very exciting opportunity to extend our oncology pipeline by adding blood cancers to the ongoing metastatic breast cancer and glioblastoma programmes.”
Cineworld (CINE) shares fell 7.63% to 67.84p as online viewings jump
Today, Cineworld’s share price dropped as low as 67p, its cheapest for five months. The fall follows rising scepticism that Britain’s cinemas will return to full capacity from 19 July 2021.
Entertainment stocks, particularly cinemas, are also feeling the pressure as subscriber numbers for online streaming platforms such as Netflix, Disney and Amazon increase.
According to Bloomberg, cinema stocks have failed to receive the boost it needed after Walt Disney Co.’s new movie “Black Widow” was almost as popular online as it was at the cinema.
‘As a result, the largest cinema chains fell. AMC Entertainment declined 7.8% last Monday, its sixth drop in seven trading days, despite announcing it had a pandemic attendance record.’
“The film may inform other studios that want to test a quicker release to streaming, especially as the pandemic continues to trouble parts of the world’ the publication wrote on Sunday.