Arecor Therapeutics rockets after positive trial; Touchstone Exploration ends drilling with a bang


SMALL CAP MOVERS: Arecor Therapeutics rockets after positive trial results; Touchstone Exploration ends drilling campaign with a bang










Arecor Therapeutics wowed investors this week with positive early-stage clinical trial results.

The pharma group, which debuted on AIM in June, is developing an ultra-concentrated, rapid-acting insulin formulation called NovoRapid.

It’s being designed for those diabetes patients that have to inject insulin several times a day; if it passes all tests, it will allow them to reduce the size and frequency of the doses.

The Unilever spin-out will now move to further analysis of the results and then to phase two and three of trials, with commercialisation earmarked for 2025.

Arecor Therapeutics wowed investors this week with positive early-stage clinical trial results.

Arecor Therapeutics wowed investors this week with positive early-stage clinical trial results.

Shares rose 68 per cent to 434p as analysts said the study results smashed expectations and outperformed the existing gold standard treatment.

Another large riser was Touchstone Exploration, which jumped 27 per cent to 109p after confirming a clean-sweep of five consecutive well successes.

The Royston well in Trinidad exceeded expectations, signing off the five well 2021 drill campaign on a high note.

Royston unearthed a total of 393 feet of hydrocarbon pay, smashing pre-drill hopes for 200 feet.

As is always the case with such projects, the well will now need to be tested to ascertain its commercial merits and those preparations have now begun.

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Investors in Touchstone will closely eye the production tests and the company’s forward plans in anticipation that drill-bit success translates to the bottom line.

Turning to the wider small-cap market, the AIM All Share was down 0.7 per cent over the week, underperforming the FTSE 100, which instead advanced 1.3 per cent.

Among the other risers, advertising and marketing group M&C Saatchi jumped 19 per cent to 172p after a surge in half year profits and a prediction that the full year figures would beat forecasts.

Oil producer Caspian Sunrise gushed 17 per cent higher to 3p after it returned to profit due to the dramatic improvement in both the world oil price and domestic charges in Kazakhstan.

ARC Minerals surged 15 per cent to 3p after striking what it called the most successful copper sulphide discovery in its history, located at Cheyeza East in north-western Zambia.

Gift vouchers king Appreciate Group advanced by a tenth to 29p thanks to better trading, which is now ahead of the same period in the last two financial years.

Production company Zinc Media added 5 per cent after it picked up its largest ever series commission.

Channel 5 ordered a series called ‘Bargain Loving Brits in the Sun – Costa Living’, which will last for 52 hours.

Among the fallers, Rockhopper Exploration tumbled 30 per cent to 5p after potential partner Harbour Energy decided to drop the Sea Lion project in the Falklands, which was discovered and is operated by Rockhopper.

Online fashion retailer In The Style Group fell 16 per cent to 165p after warning that profit will be hit by higher freight costs and more people returning items.

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Cake decorations producer Real Good Food meanwhile lost 15 per cent to 2p after revealing it was considering delisting from AIM to save £150,000 a year in costs.

Next week, the junior market will see the debut of Made Tech Group, a provider of data and technology services to the UK public sector, and GreenRoc Mining, created with the purpose of acquiring all of the Greenlandic mining assets of Alba Mineral Resources.



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