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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Allergy Therapeutics PLC, up 6.4% at 5.59 pence, 12-month range 0.37p-5.80p. The biotechnology company hails positive findings from trial results for a peanut allergy vaccine. It announces the completion of new cohorts of healthy, and peanut allergic, patients, who have received increasing dose strengths of its novel virus-like particle-based peanut allergy vaccine. Allergy Therapeutics says the ongoing phase I/IIa VLP peanut Protect trial is evaluating the maximum safe and tolerated dose of the peanut allergy vaccine and includes assessment of It notes that patients have now completed three incremental dose levels over two months with no safety signals observed.
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Mosman Oil & Gas Ltd, up 5.3% at 0.036p, 12-month range 0.010p-0.060p. The oil exploration, development, and production company says that it has sold its interest in Nadsoilco for up to USD1.8 million. Nadsoilco LLC currently owns the working interest in Stanley, Greater Stanley and all of Mosman's interests in the Winters leases in the Polk County, Texas, US. It explains that the sale will free up management resources to focus on helium exploration. "We are pleased to deliver on our goal of commercialising some of our existing portfolio of oil and gas assets by sale as we seek to take advantage of compelling opportunities for helium exploration," CEO Andy Carroll comments.
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AIM - LOSERS
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Arecor Therapeutics PLC, down 26% at 117.75p, 12-month range 103.50p-250.00p. The biopharmaceutical firm now expects to require new funding in the third quarter of this year. Arecor says its working capital requirements have accelerated primarily as a result of the timing of potential pipeline revenue and an increase in costs. The firm now expects funding to be required in the third quarter of 2024. Chief Executive Officer Sarah Howell says: "We believe the growth potential for the company remains compelling with a number of revenue and significant partnership opportunities. We are focussed on addressing the funding requirements for the business to deliver this growth and to capture the value of our platform and insulin assets."
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By Sophie Rose, Alliance News senior reporter
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