Animalcare lifted by news of approval for pain treatment for dogs

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11.51am: Kidney disease specialist receives milestone order


Renalytix AI PLC (LON:RENX) is in focus after it announced a 10 year US government contract to supply kidney disease testing services.


Shares in the company have jumped 18.75% or 180p to 1140p on news of the order for its KidneyIntelX early-stage kidney disease tests.


The contract – a five year term with a five year extension option – covers laboratory testing services that can be provided through more than 140 US government departments, agencies and affiliates, including the US Veterans Administration and Department of Defense military branches.


It said the process for receiving such a contract “requires an application and rigorous review against specific criteria, including the status of the provider, the quality and dependability of the service provided, and the need for the testing service.”


The company’s president Tiom McLain said: “Achieving this contracting milestone allows us to make KidneyIntelX available to patients throughout the US. government healthcare system. Executing on our market access strategy represents a substantial commercial opportunity for RenalytixAI.”


10.38am: Animal healthcare firm in demand


It’s a dog’s life for Animalcare Group PLC (LON:ANCR), and in a good way.


Shares in the animal health business have put on 5.17% or 14p to 285p after it received UK and European approval for its Daxocox tablets to treat pain and inflammation associated with osteoarthritis (or degenerative joint disease) in dogs.


It has also announced an agreement with French group Virbac to distribute Daxocox in the majority of European countries outside Animalcare’s seven direct markets.


It plans to launch the treatment early in the second half of 2021, into a European market estimated to be in the region of GBP130mln.


Chief executive Jenny Winter said: “The approval of Daxocox represents an advance in the treatment of breakthrough pain associated with osteoarthritis. Veterinary professionals now have an effective and convenient new treatment option to help prevent episodes of osteoarthritis pain that can plague the quality of life for dogs, especially in middle-aged and older animals.


“This is also a milestone for our company and our growth ambitions…. We are excited at the prospects for Daxocox in what is a sizeable, fast-growing and competitive segment. By teaming up with Virbac, one of the world’s biggest animal health companies, we are maximising the reach of Daxocox across Europe from day one.”


9.11am: Gold miner shines after update


Arkle Resources PLC (LON:ARK) – which last week had to pour cold water on the idea it was being taken over – now has some good news for investors.


The miner, which is a gold and zinc explorer in Ireland, said diamond drilling was due to begin next Monday at its Mine River project in Counties Wicklow and Wexford.


The move comes after a recent gold find there, and the drilling programme – expected to take 10 to 12 weeks – is fully funded.


Chairman John Teeling said: “Last year we had very good trenching results from the Tombreen area so we are eager to drill. The first 3 holes of 12 will target a new area 750 metres along strike from previous discoveries at Tombreen where we found visible gold in one trench. Visible gold is a very encouraging sign. The follow up drill holes will look to expand the Tombreen gold target along strike .”


The news has given its shares some lustre, up 14.29% or 0.13p at 1p.


SSP PLC (LON:SSPG) is also on the way up.


The owner of brands such as Upper Crust and Ritazza prominent in stations has been suffering in the wake of the travel restrictions caused by the pandemic.


So much so that it asked shareholders for GBP475mln to beef up its balance sheet.


Now it has announced that it had received 98.05% acceptances for the rights issue, with the rump of the shares placed at 311.5p each.


In the market SSP has added 15.9p or 5.1% to 327.4p.


Proactive news headlines


MGC Pharmaceuticals Ltd (ASX:MXC) (LON:MXC) (OTCMKTS:MGCLF) is acquiring MediCaNL Inc, an Israeli company providing specialist services worldwide to the pharmaceutical sector for the development of new medicines.


NFT Investments PLC (LON:NFT) has made its maiden non-fungible token investment by acquiring a stake in AEON International, a technology developer for the luxury fashion industry.


Keywords Studios PLC (LON:KWS) said it has acquired UK video game development services provider Climax Studios in a move it says will bring “significant additional scale” to its largest service line.


Spectra Systems Corporation (LON:SPSY) has been selected by the Canadian lottery to provide its Premier64 Integrity internal control system (ICS).


Bushveld Minerals Ltd (LON:BMN) said an unofficial five-day strike at its Vametco vanadium operation in South Africa has been resolved and workers have started safely returning to work.


Trident Royalties PLC (LON:TRR) welcomed a 50% increase in indicated resources at Apollo Consolidated Ltd‘s (ASX:AOP) Lake Rebecca gold project in Western Australia. Trident holds a 1.5% net smelter royalty over the project.


Love Hemp Group PLC (LON:LIFE) (OTCQB:WRHLF) said it has re-signed the Ultimate Fighting Championship‘s (UFC’s) current welterweight champion, Kamaru Usman, as a brand ambassador for the company for another year.


Belvoir Group PLC (LON:BLV) chief executive Dorian Gonsalves and chief financial officer Louise George will be presenting at a Mello event on Monday 26 April, starting at 6pm via a Zoom webinar. They will give a 10 minute introduction on 26 April and a one hour follow-up presentation the following day at 1pm before taking questions.


Shield Therapeutics PLC (LON:STX) will announce its preliminary results for the year ended 31 December 2020 on Thursday 29 April 2021.

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