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New peaks
Compagnie des Alpes | 23/02/2024

Galvanised by further strong investment-led sales in FY23 (up by 11% like-for-like), which more than absorbed a near-doubling of energy costs, Compagnie…

FY23 NAV TR of 20% in sterling terms
Georgia Capital | 23/02/2024

Georgia Capital (GCAP) reported a Q423 NAV total return (TR) of 7.7% in Georgian lari (GEL) terms (3.4% in sterling terms), bringing the FY23 NAV TR to…

Positive FDA mesdopetam outlook following EoP2
IRLAB Therapeutics | 23/02/2024

IRLAB Therapeutics reported positive feedback from its FDA end-of-Phase II (EoP2) meeting earlier in the week for mesdopetam. According to management,…

Executive interview
Cereno Scientific – executive interview | 22/02/2024

In this video, Soo Romanoff, healthcare managing director of Edison Group, interviews Sten Sörensen, CEO of Cereno Scientific, who discusses the company’s…

Equity proposition
The Merchants Trust – Equity proposition | 22/02/2024

The Merchants Trust (MRCH) is managed by Simon Gergel at Allianz Global Investors. He employs a disciplined bottom-up stock selection strategy to construct…

Executive interview
Cordel Group - executive interview | 22/02/2024

CRDL is an AIM-listed technology company that provides an end-to-end data management platform for automated rail infrastructure monitoring. At its core,…

Landmark 1Streetworks contract
1Spatial | 22/02/2024

SPA has announced that following a successful trial, UK Power Networks has signed a contract to deploy 1Streetworks, 1Spatial’s traffic plan automation…

Differentiated approach in CVD with potential
Cereno Scientific | 22/02/2024

Cereno Scientific is a clinical-stage biotech, developing treatments for cardiovascular diseases (CVDs) using novel approaches. Its focus on disease-modifying…

Equity proposition
Invesco Asia Trust – Equity proposition | 21/02/2024

Invesco Asia Trust’s (IAT’s) objective is to provide long-term capital growth by investing in a diversified portfolio of Asian companies. Its…

Contract wins underpin strong start to H224
Vection Technologies | 21/02/2024

Vection Technologies secured multiple contracts in February, generating total contract value (TCV) of A$5.8m, with management expecting to recognise the…

From strength to strength
Basilea Pharmaceutica | 20/02/2024

FY23 was another strong year for Basilea, marked by successive guidance beats and meaningful progress in fortifying its product pipeline. Revenues of CHF157.6m…

Focus on governance, risk and compliance
Wilmington Group | 20/02/2024

With November’s purchase of Astutis, January’s sale of MiExact and the proposed Healthcare business disposal, Wilmington is now firmly focused…

A happy valentine
Pan African Resources | 20/02/2024

Pan African Resources’ (PAF’s) H124 results were released on 14 February, with earnings (and headline earnings) within 1.5% of our forecast…

Supportive advancements on the pipeline
Recce Pharmaceuticals | 20/02/2024

Recce Pharmaceuticals has announced several positive developments in recent weeks relating to its therapeutic programmes, particularly for lead anti-infective…

Return to organic growth forecast for FY24
Dentsu Group | 20/02/2024

Dentsu’s FY23 net revenue was a touch above guidance at Q3, with a better-than-expected operating margin reflecting a good Q4 in Japan, further boosted…

Another ODD boosts the off-the-shelf, universal UV1
Ultimovacs | 20/02/2024

Ultimovacs has been granted Orphan Drug designation (ODD) from the European Medicines Agency (EMA) for UV1 in mesothelioma, marking another step forward…

Appealing offer
Dunelm Group | 19/02/2024

Dunelm Group’s (DNLM’s) H124 results demonstrated the benefits of its strategy of broadening its addressable market by strengthening the core…

Positive clinical step forward in SDC-1801
Sareum Holdings | 19/02/2024

Sareum Holdings has announced positive clinical progression for SDC-1801, its lead asset and novel TYK2/JAK1 inhibitor targeting the autoimmune space (with…

US milestone triggers upside and guidance bump
AFT Pharmaceuticals | 19/02/2024

AFT Pharmaceuticals has announced the first sale of its intravenous pain relief medicine, Maxigesic IV, through its US licensing partner, Hikma Pharmaceuticals,…

One city but two tales
Phoenix Spree Deutschland | 19/02/2024

Phoenix Spree Deutschland’s (PSD’s) trading update contrasts the strength of the Berlin private rental sector, reflected in PSD’s increased…

Universal approach with critical readouts in March
Ultimovacs | 16/02/2024

Ultimovacs recapped an active FY23 period for its universal cancer vaccine, UV1, including the reported benefit in overall survival and desirable safety…

Resilient FY23 masked by record comparator
Arctic Paper | 15/02/2024

FY23 was a year with numerous obstacles for the European paper and pulp industry, including lower demand due to an economic downturn and customer destocking.…

Potential disruptor to AML maintenance setting
Mendus | 15/02/2024

Mendus has reported FY23 results, summarising an active period. For its lead asset, vididencel, long-term survival data from the ADVANCE II trial reinforce…

Looking forward to improved relative performance
Finsbury Growth & Income Trust | 15/02/2024

Finsbury Growth & Income Trust (FGT) has been managed by Nick Train since the beginning of 2001 and in 2019 Madeline Wright was appointed as the trust’s…

VolitionRx webinar: Unravelling the web of NETs in sepsis … Part II
VolitionRx webinar: Unravelling the web of NETs in sepsis … Part II | 15/02/2024

Join VolitionRx’s chief commercial officer Gael Forterre and intensive care specialist and haematology key opinion leader Dr Andrew Retter as they…

FY24 revenue and ARR in line, EBITDA ahead
Checkit | 15/02/2024

Checkit’s FY24 trading update confirmed that revenue and year-end annual recurring revenue (ARR) were in line with our forecasts, up 17% and 16%…

Looking good
Revolution Beauty Group | 14/02/2024

Revolution Beauty Group’s (REVB’s) capital markets day (CMD) provided an opportunity for the new management team to present its refocused strategy:…

Manager anticipates a small-cap super cycle
The Diverse Income Trust | 14/02/2024

The Diverse Income Trust’s (DIVI’s) managers Gervais Williams and Martin Turner focus on generating a dividend income stream that is more resilient…

Counting down to launch in H124
KEFI Gold and Copper | 13/02/2024

In its post-Indaba release of 13 February, KEFI announced that the multi-party, subsidiary-level financing of its Tulu Kapi gold project in Ethiopia is…

On track to meet dividend target
Custodian Property Income REIT | 12/02/2024

Custodian Property Income REIT (CREI) has released a trading update for the three months to 31 December 2023 (Q424). The quarterly DPS was fully covered…

Unmasking its growth potential
Avon Protection | 12/02/2024

Avon Protection’s capital markets day highlighted its continued focus on medium-term margin expansion (targeting operating margin of 14–16%),…

Executive interview with Erik Manting PhD, CEO of Mendus
Executive interview with Erik Manting PhD, CEO of Mendus | 12/02/2024

In this video, Soo Romanoff, healthcare managing director of Edison Group, interviews Erik Manting, CEO of Mendus. Mendus is a clinical-stage immunoncology…

Key takeaways from capital markets day
GCP Infrastructure Investments | 12/02/2024

GCP Infrastructure Investments (GCP) has a mature, diverse and operational portfolio of 51 UK infrastructure assets with a total asset value of £1.1bn…

Guiding to strong H124 EBITDA growth
Claranova | 12/02/2024

Claranova reported a small increase in H124 revenue on a constant currency (cc) basis, as good growth in Avanquest and myDevices offset lower revenue in…

Timeline refresh with numerous inflection points
IRLAB Therapeutics | 12/02/2024

IRLAB has reported FY23 results and provided operational and regulatory updates, including an end-of-Phase II (EoP2) meeting with the FDA for mesdopetam…

Updates galore: NXC-201 ODD (EU) and raise
Immix Biopharma | 12/02/2024

Immix Biopharma has released back-to-back updates, including EU orphan drug designation (ODD) for its lead CAR-T asset NXC-201, addressing amyloid light…

Equity proposition
Zalaris – Equity proposition | 09/02/2024

Zalaris (OSE: ZAL) is a leading provider of comprehensive human capital management and payroll solutions. Listed on the Oslo Stock Exchange, the company…

Railtech play with scalable potential
Cordel Group | 09/02/2024

Cordel Group is a UK technology company that provides an end-to-end data management platform for automated rail infrastructure monitoring. At its core,…

Solid FY23 lays the groundwork for 2024
Creo Medical | 08/02/2024

Creo Medical has released a trading update for FY23, an active year for the company, with progress made across all business segments. Traction improved…

Steadfast defence
Babcock International Group | 08/02/2024

Babcock’s capital markets day reaffirmed its transformation over the past two years, facilitated by a series of disposals and a focus on core defence…

Steps on the pathway to volume production
Nanoco Group | 08/02/2024

Nanoco’s trading update confirms that H124 revenues and EBITDA are anticipated to be in line with company expectations. The main new information…

In it to win it
Intralot | 08/02/2024

Intralot Integrated Lottery Systems and Services (Intralot) is a leading developer and supplier of integrated gaming systems and services that cover the…

Executive interview
Intralot – executive interview | 08/02/2024

In our first interview with Chris Sfatos, deputy CEO of Intralot, he begins by talking about the products and services that Intralot provides and the customers…

US maiden voyage with Maxigesic IV launch
AFT Pharmaceuticals | 08/02/2024

AFT Pharmaceuticals has announced the launch of Maxigesic IV, an intravenous form of its flagship pain relief prescription medicine, in the US market by…

Snaring sepsis, with early NETs detection
VolitionRx | 08/02/2024

VolitionRx continues to make headway in growing a body of clinical evidence to build Nu.Q® NETs as a potential breakthrough tool in sepsis. These…

Orders return to growth; FY24 earnings on track
discoverIE Group | 07/02/2024

discoverIE’s Q324 trading update confirmed a return to organic order growth, while the decline in organic revenue reflected the expected unwind of…

Increased legroom following common-only raise
Immix Biopharma | 07/02/2024

Immix Biopharma has announced a $15m (gross), fully underwritten equity issue. The company will use the proceeds to fund clinical trials for lead CAR-T…

FY23 underlying PBT broadly maintained
Secure Trust Bank | 06/02/2024

Secure Trust Bank’s (STB’s) Q423 trading update showcased a robust performance with net loans of £3.3bn, up 13.6% y-o-y. The bank reaffirmed…

Rent cover at a high and fully covered DPS
Target Healthcare REIT | 06/02/2024

Target Healthcare REIT’s Q224 update shows indexed rent reviews driving increased earnings and property values. Tenant profitability continues to…

Backlog supports strong growth from H224
Filtronic | 06/02/2024

Filtronic’s recent investment and focus on high-performance radio frequency (RF) design and manufacturing is starting to pay off, with recent new…

FDA Fast Track boosts confidence in UV1
Ultimovacs | 06/02/2024

Ultimovacs has received FDA Fast Track designation for its lead cancer vaccine, UV1, as a potential treatment for mesothelioma and builds on the Orphan…

Services division set to be a key organic driver
Information Services Corporation | 05/02/2024

In FY23 Information Services Corporation (ISC) remained on a positive trajectory of securing new contracts and customers, despite prevailing macroeconomic…

Early signs of revival in clinical activity
Oxford Cannabinoid Technologies | 05/02/2024

Oxford Cannabinoid Technologies (OCT) has announced its H124 results (to end-October 2023), an eventful period for the company, marked by successful clinical…

Enterprise adoption drives growth
MotorK | 05/02/2024

MotorK closed FY23 with annual recurring revenue (ARR) of €34.1m, a 39% increase from the prior year. While both the Retail and Enterprise segments…

Preliminary FY23 NAV TR at 10.7%
HgT | 05/02/2024

HgT’s preliminary unaudited FY23 trading update reported a 10.7% net asset value total return (NAV TR) in FY23 (of which c 1% in Q423). This was…

Responding to challenging times
Gresham House Energy Storage Fund | 05/02/2024

Gresham House Energy Storage Fund (GRID) is the largest UK fund investing in utility-scale battery energy storage systems (BESS). A recent sharp decline…

Major source of losses stemmed
EML Payments | 05/02/2024

As part of its strategy to focus on profitable, cash-generative businesses, the boards of EML Payments and PFS Card Services Ireland Limited (PCSIL) have…

Termination of coverage
Termination of coverage - Riverstone Credit Opportunities Income | 02/02/2024

Edison Investment Research is terminating coverage on Riverstone Credit Opportunities Income (RCOI). Please note you should no longer rely on any previous…

Termination of coverage
Termination of coverage - Channel Islands Property Fund | 02/02/2024

Edison Investment Research is terminating coverage on Channel Islands Property Fund (CIPF). Please note you should no longer rely on any previous research…

Termination of coverage
Termination of coverage - The Brunner Investment Trust | 02/02/2024

Edison Investment Research is terminating coverage on The Brunner Investment Trust (BUT). Please note you should no longer rely on any previous research…

Termination of coverage
Termination of coverage - Molecure | 02/02/2024

Edison Investment Research is terminating coverage on Molecure (MOC). Please note you should no longer rely on any previous research or estimates for this…

Termination of coverage
Termination of coverage - Sequana Medical | 02/02/2024

Edison Investment Research is terminating coverage on Sequana Medical (SEQUA). Please note you should no longer rely on any previous research or estimates…

Termination of coverage
Termination of coverage - The European Smaller Companies Trust | 02/02/2024

Edison Investment Research is terminating coverage on The European Smaller Companies Trust (ESCT). Please note you should no longer rely on any previous…

Termination of coverage
Termination of coverage - Endeavour Mining | 02/02/2024

Edison Investment Research is terminating coverage on Endeavour Mining (EDV). Please note you should no longer rely on any previous research or estimates…

Termination of coverage
Termination of coverage - Itaconix | 02/02/2024

Edison Investment Research is terminating coverage on Itaconix (ITX). Please note you should no longer rely on any previous research or estimates for this…

Termination of coverage
Termination of coverage - Atlantis Japan Growth Fund | 02/02/2024

Edison Investment Research is terminating coverage on Atlantis Japan Growth Fund (AJG). Please note you should no longer rely on any previous research…

Termination of coverage
Termination of coverage - RTW Biotech Opportunities | 02/02/2024

Edison Investment Research is terminating coverage on RTW Biotech Opportunities (RTW). Please note you should no longer rely on any previous research or…

Termination of coverage
Termination of coverage - Paradigm Biopharma | 02/02/2024

Edison Investment Research is terminating coverage on Paradigm Biopharma (PAR). Please note you should no longer rely on any previous research or estimates…

Strategic options being considered
Ocean Wilsons Holdings | 02/02/2024

Ocean Wilsons Holdings’ (OCN’s) strategic review remains ongoing. Despite the review and the potential for value realisation, OCN still trades…

Record half and strong H2 visibility
Vection Technologies | 02/02/2024

Vection Technologies’ H124 activity report shows sustained momentum, with the group delivering 37% y-o-y revenue growth to A$11.9m. Total contract…

FY24 guidance suggests slower growth
Kolibri Global Energy | 02/02/2024

Kolibri Global Energy (KEI) reported its operational and financial guidance for FY24. The company expects average production of 3,500–4,000boepd…

Looking to FY24 and beyond
Endeavour Mining | 01/02/2024

Endeavour released its customary operational and financial update to the market on 22 January, showing Q423 production of 280koz and FY23 production of…

More profitable customers in FY23
CLIQ Digital | 01/02/2024

CLIQ Digital’s FY23 trading update showed sales coming in below both management’s guidance and our forecasts, although EBITDA was in line.…

Shareholders reduce holding
HELLENiQ ENERGY | 01/02/2024

Hellenic Republic Asset Development Fund (HRADF) and Paneuropean Oil & Industrial Holdings (POIH) have announced that they have sold 33.6m shares in HELLENiQ…

Momentum and positive cash flow
SenSen Networks | 01/02/2024

Q2 was a pivotal quarter for SenSen, with the business making significant progress commercially, operationally and financially. Customer cash receipts…

Harnessing AI, data and platform
WPP | 31/01/2024

WPP’s capital markets day (CMD) focused on the combination of creativity and AI at scale and how these can be leveraged to boost clients’ businesses.…

NAV expected to decline further in H223
IP Group | 31/01/2024

IP Group has released its year-end update, indicating that its end-2023 NAV per share will be in the range of 111p to 117p. This would represent a NAV…

Softer construction market affecting profitability
Renewi | 31/01/2024

Renewi is a well-placed strategic asset given its standing in the circular economy and market-leading positions in the Netherlands and Belgium. The Q3…

Foray into T1D expands business scope
Biodexa Pharmaceuticals | 31/01/2024

Biodexa has completed the acquisition of global rights to tolimidone from Adhera Therapeutics after a successful $6m (gross proceeds) equity raise, conditional…

Executive interview
Alpha Bank - executive interview | 31/01/2024

In this interview, Alpha Bank CEO Vassilis Psaltis introduces viewers to Alpha Bank and its extensive history as Greece’s trusted relationship bank.…

On track to meet guidance
Smiths News | 31/01/2024

Smiths News’ trading update highlights the resilience of its business model in a tough macroeconomic environment, with FY24 results expected to be…

Capturing rent potential in Q3
Picton Property Income | 31/01/2024

Picton Property Income’s (PCTN’s) Q324 trading update details a range of positive leasing events that provided underpinning to income, reflected…

SenSen Networks - Executive interview
SenSen Networks - executive interview | 31/01/2024

SenSen Networks’ CEO, Subhash Challa and CFO, Christian Stevens discuss a transformative Q224 for SenSen in which the business generated positive…

Strong cash flow underpins further DPS growth
Impact Healthcare REIT | 31/01/2024

Impact Healthcare REIT’s Q423 update shows a continued strengthening in operational and financial tenant performance, reflected in a record level…

Solid H223 leads to useful earnings upgrade
Epwin Group | 30/01/2024

Epwin Group’s H223 trading was robust and management has navigated inflationary pressures well. As a result we have increased our FY23 and FY24 underlying…

High-quality equity offering in an uncertain world
Martin Currie Global Portfolio Trust | 30/01/2024

Martin Currie Global Portfolio Trust’s (MNP’s) manager Zehrid Osmani was correct in his assumption that investors were too conservative in…

Continues to deliver an 8–10% dividend yield
Riverstone Credit Opportunities Income | 30/01/2024

Riverstone Credit Opportunities Income (RCOI) reported an FY23 NAV total return (TR) of 6.0%, with continued steady income from its fully invested portfolio,…

€9m enterprise win with European utility
1Spatial | 30/01/2024

1Spatial has announced a significant contract win with a leading electricity and gas distribution network operator in Belgium. The work is to support the…

Vantage: Unlocking growth in emerging markets with Utilico Emerging Markets Trust’s Charles Jillings
Vantage: Unlocking growth in emerging markets with Utilico Emerging Markets Trust’s Charles Ji | 29/01/2024

Welcome back to Vantage! As we embark on 2024, we are diving into the dynamic landscape of emerging markets, exploring growth opportunities in regions…

Solid on all fronts
Team Internet Group | 29/01/2024

Team Internet’s FY23 trading update confirmed that trading has remained robust with double-digit sales growth across Online Marketing and Online…

Strong Christmas trading boosts Q124
Britvic | 29/01/2024

Britvic delivered an encouraging start to FY24 with robust Q124 results that showed good revenue progression, reflecting the strength of its brand portfolio.…

KOL event: Offering a real-world solution in BPD
Oryzon Genomics | 29/01/2024

Oryzon hosted a key opinion leader (KOL) event highlighting the potential of vafidemstat in borderline personality disorder (BPD). The KOLs discussed the…

2023 revenue and profit surprise
Dar Global | 26/01/2024

Dar Global’s FY23 trading update points to materially better revenue and profit expectations than previously anticipated due to a range of positive…

Sequana Medical - Executive interview
Sequana Medical - executive interview | 26/01/2024

Based in Belgium, Sequana Medical develops and commercialises products to treat diuretic-resistant fluid overload, a frequent complication of liver disease…

Anticipating a happy valentine
Pan African Resources | 26/01/2024

Pan African Resources’ (PAF’s) production update of 22 January revealed H124 production of 98,458oz gold, compared with prior guidance of 94,000–98,000oz,…

Deutsche Beteiligungs AG in 60 seconds
Deutsche Beteiligungs AG in 60 seconds | 26/01/2024

Get the lowdown from Edison's Milosz Papst on this Germany-based and listed private equity investment and fund management company. It invests in mid-sized…

Invesco Asia Trust in 60 seconds
Invesco Asia Trust in 60 seconds | 26/01/2024

Get the lowdown from Edison’s Milosz Papst on this trust aiming to provide long-term capital growth by investing in a diversified portfolio of Asian…

Firm evidence of restructuring success
Foxtons Group | 26/01/2024

In FY23, Foxtons Group’s three divisions took market share, the direct result of management action to invest in the business. The company’s…