Arecor Therapeutics Advances After Positive Trial; Touchstone Exploration ends drilling with a bang

SMALL CAP MOVERS: Arecor Therapeutics Advances After Positive Trial Results; Touchstone Exploration ends drilling campaign with a bang

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

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

It is designed for diabetic patients who need to inject insulin several times a day; if it passes all the tests, they can reduce the size and frequency of the doses.

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

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

Shares rose 68 percent to 434p as analysts said the survey results exceeded expectations and outperformed the existing gold standard treatment.

Another big climber was Touchstone Exploration, which rose 27 percent to 109p after confirming a clean sweep of five consecutive putting successes.

The Royston well in Trinidad exceeded expectations and signed the five well drilling campaign in 2021 on a high note.

Royston has excavated a total of 393 feet of hydrocarbon wages, raising hopes for drilling 200 feet.

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

Investors in Touchstone will be watching closely the company’s production testing and future plans, with the expectation that the drill’s success will translate into the bottom line.

Turning to the broader small cap market, the AIM All Share fell 0.7 percent over the course of the week and underperformed the FTSE 100, which rose 1.3 percent instead.

Among the other risers, advertising and marketing group M&C Saatchi jumped 19 percent to 172p after rising half-year profits and forecasting full-year numbers to beat forecasts.

Oil producer Caspian Sunrise shot 17 percent higher to 3p after it returned to profit thanks to the dramatic improvement in both world oil prices and domestic charges in Kazakhstan.

ARC Minerals rose 15 percent to 3p after hitting what it called the most successful copper sulfide discovery in its history, located in Cheyeza East in northwestern Zambia.

Gift cards King Appreciate Group rose a tenth to 29p on better trading, now ahead of the same period in the past two fiscal years.

Production company Zinc Media added 5 percent after receiving its largest series commission ever.

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

Among the fallers, Rockhopper Exploration fell 30 percent to 5p after potential partner Harbor Energy decided to shut down the Sea Lion project in the Falklands, which was discovered and operated by Rockhopper.

Online fashion retailer In The Style Group fell 16 percent to 165p after warning its profits will be hurt by higher freight costs and more people returning items.

Cake decorations producer Real Good Food, meanwhile, lost 15 per cent to 2p after revealing it was considering scrapping 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, formed with the aim of acquiring all Greenlandic mining assets from Alba Mineral Resources.