By Steve Moore | Monday 31 July 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Previously writing on ‘novel’ affinity binders development group Aptamer (APTA) last week, I concluded ‘the shares have currently responded… to 4.5p, a £3.1 million market cap and still 20% higher on the day. However, with the noted financial desperation and cash burn, I suggest the group is not in a strong negotiating position and is in a very challenged financing market. As such, still currently avoid/sell’. Today it states that it “is pleased to announce that it has conditionally raised £3.6 million (before expenses), including approximately £0.3 million from existing directors, proposed directors and PDMRs, by way of a placing and subscription… for working capital purposes”. Good news then? Er…
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