Dow Jones smallcap news is now on Twitter, allowing you to catch
up on the news away from your desk. Go to
http://twitter.com/DJ_UK_Smallcaps
VERNALIS PLC (VER.LN), a U.K. biotech firm, has inked a deal
with pharmaceutical giant GlaxoSmithKline PLC (GSK.LN) to develop
new cancer drugs, in an agreement potentially worth up to $200
million to Vernalis.
GlaxoSmithKline has taken an option to license any experimental
new drugs developed by Vernalis designed to affect an undisclosed
cancer target, the companies said.
At 1045 GMT, Vernalis shares +6.25 pence, or 7%, at 90 pence.
Glaxo shares -3 pence, or 0.26%, at 1,142 pence.
MINORPLANET SYSTEMS PLC (MPS.LN), a vehicle management software
company, Thursday said it has reached deals over its borrowings and
is seeking to raise GBP3.25 million from shareholders, as it
attempts to shore up its financial position amid tough trading
conditions.
At 1045 GMT, shares -0.62 pence, or 22%, at 2.25 pence.
GULF KEYSTONE PETROLEUM LTD. (GKP.LN) said it made a significant
oil discovery in Iraq.
The company said it found oil at the Shaikan-1 exploration well
in Iraq's Kurdistan region.
Preliminary tests indicate the well could produce 5,000 to 8,000
barrels of oil a day, Gulf Keystone said.
At 1045 GMT, shares +17.75 pence, or 136%, at 30.75 pence.
MECOM GROUP PLC (MEC.LN), a European newspaper publisher, said
the move to get its journalists writing more content across
different platforms wasn't solely prompted by a need for increased
efficiency during the global downturn, but instead follows the
direction of the publishing industry as a whole.
Earlier Thursday, the firm said it planned to continue cutting
costs, which are expected to save it EUR100 million in 2009, in an
attempt to offset plunging advertising sales.
At 1045 GMT, shares +0.5 pence, or 0.43%, at 115.5 pence.
FIBERWEB PLC (FWEB.LN) said it has stepped up production of a
component used in face masks, as the swine flu pandemic has led to
a surge in demand.
The specialist fabrics maker earlier swung to a first-half loss
after a string of charges and writedowns, but said that although
sales fell in the period, it has seen signs of market volumes
stabilizing.
At 1045 GMT, shares -4.25 pence, or 6%, at 61.25 pence.
MOUCHEL GROUP PLC (MCHL.LN), a U.K. consulting and business
services group, Thursday said market conditions are "generally
buoyant" with strong demand in its three core markets and expects
to continue to benefit from sustained public expenditure.
At 1045 GMT, shares +12.1 pence, or 7%, at 185.9 pence.
GW PHARMACEUTICALS PLC (GWP.LN), a U.K. drug maker, Thursday
said it raised $11.2 million from investors including U.S.
healthcare fund group Great Point Partners, which requested a
significant equity stake.
GW Pharma, which is developing drugs derived from cannabis, said
Great Point Partners bought 7.6 million shares in the company at 78
pence a share, a 2% premium to the closing price Wednesday.
The purchase gives Great Point a 5.8% stake in GW.
David Kroin, a founder and co-portfolio manager at Great Point,
said the U.S. investor has been following GW "for some time."
At 1045 GMT, shares +4 pence, or 5%, at 80 pence.
COSALT PLC (CSLT.LN) said it is seeking to raise GBP18.9 million
in a steeply discounted share issue in a bid to cut its debt.
The marine safety equipment maker said it intends to issue 180
million shares through a placing and open offer and another 198
million in a firm placing, both at 5 pence a share, an 84% discount
to Wednesday's closing price.
At 1045 GMT, shares -17.75 pence, or 57%, at 13.25 pence.
INDIGOVISION GROUP PLC (IND.LN) said it expects its fiscal 2009
operating profit to be "materially ahead" of market expectations
and will post sales up around 43% on year, due to strong sales to
casinos, banks and the U.S.-Canada border crossings.
The video security systems supplier said its operating profit
performance has been helped by an improvement in operating
margin.
At 1045 GMT, shares +77.5 pence, or 19%, at 480 pence.
FTSE SMALL CAP +0.6%
FTSE AIM +0.4%
-By Hannah Benjamin, Jason Douglas & Rachael Gormley, Dow
Jones Newswires; 44-20-7842-9298; uksmallcaps@dowjones.com
Order free Annual Report for Gulf Keystone Petroleum LTD
Visit http://djnweurope.ar.wilink.com/?ticker=BMG4209G1087 or
call +44 (0)208 391 6028
Order free Annual Report for GW Pharmaceuticals PLC
Visit http://djnweurope.ar.wilink.com/?ticker=GB0030544687 or
call +44 (0)208 391 6028
Order free Annual Report for Mouchel Limited
Visit http://djnweurope.ar.wilink.com/?ticker=GB0031696858 or
call +44 (0)208 391 6028