ADVFN UK Market News

Blog

  • GSK Licenses Global Rights to Linerixibat to Alfasigma in $300m Deal

    GSK Licenses Global Rights to Linerixibat to Alfasigma in $300m Deal

    GSK plc (LSE:GSK) has agreed to grant Alfasigma S.p.A. worldwide exclusive rights to develop, manufacture and commercialise linerixibat, an investigational therapy being studied for cholestatic pruritus in patients with primary biliary cholangitis (PBC).

    Linerixibat is an ileal bile acid transporter (IBAT) inhibitor currently undergoing regulatory review across several markets, including the United States, the European Union, the United Kingdom, China and Canada. The treatment has received Orphan Drug Designation in the US, EU and Japan, while regulators in China have granted it priority review status for the same indication.

    Under the terms of the agreement, GSK will receive an upfront payment of $300m from the Italian pharmaceutical company, with an additional $100m payable upon approval from the US Food and Drug Administration. The FDA’s target decision date under the Prescription Drug User Fee Act (PDUFA) is set for 24 March.

    GSK may also receive a further $20m following approvals in the EU and UK, along with up to $270m in additional milestone payments tied to sales performance. In addition, the company will receive tiered double-digit royalties on global net sales of the drug.

    Tony Wood, GSK’s Chief Scientific Officer, said the agreement enables the company to concentrate resources on treatments targeting chronic liver diseases such as chronic hepatitis B, metabolic dysfunction-associated steatohepatitis (MASH) and alcohol-related liver disease (ALD), conditions that collectively account for around two million deaths each year.

    Regulatory submissions for linerixibat are supported by data from the Phase III GLISTEN trial, which met its primary and key secondary endpoints. The study demonstrated a rapid and sustained reduction in cholestatic pruritus, as well as improvements in sleep disruption related to itching, compared with placebo.

    The drug’s safety profile was reported to be consistent with earlier clinical studies and with the expected mechanism of IBAT inhibition. Linerixibat has not yet been approved for use in any market.

  • KEFI Advances Tulu Kapi Gold Project With Key Contracts and Financing Progress

    KEFI Advances Tulu Kapi Gold Project With Key Contracts and Financing Progress

    KEFI Gold and Copper (LSE:KEFI) has announced further progress toward developing the Tulu Kapi gold project in Ethiopia, including the award of an engineering, supply and labour hire contract to Lycopodium.

    The company said the appointment supports its development timetable, which targets first gold production in early 2028 and full-scale output by mid-2028. KEFI also confirmed that major project agreements, including loan facilities, have been finalised and are largely executed, with the remaining documentation expected to be completed in the coming weeks.

    Funding progress has also advanced, with commitments secured for approximately US$310m of the project’s US$330m development budget. The company said this level of support demonstrates strong backing from project partners and financiers as the project moves closer to the construction phase.

    KEFI highlighted coordinated progress across several key partners involved in the development. Ethiopian Electric Power Company is responsible for grid connection, while the Ethiopian Roads Authority is developing new access routes. Lycopodium will oversee the process plant and infrastructure, Dashen is managing resettlement housing, and BCM is handling bulk earthworks and mining activities.

    With the financing and construction arrangements nearing completion, the company said the Tulu Kapi project is transitioning from the planning stage into implementation. This shift is expected to reduce funding risks and strengthen KEFI’s strategy to bring the long-planned Ethiopian gold asset into production.

    Despite these operational milestones, the company’s outlook remains constrained by its financial profile as an early-stage developer, including no current revenue, ongoing losses and continued cash burn. Technical indicators are relatively supportive, with the share price trading above key moving averages and a positive MACD reading, although valuation metrics remain limited due to negative earnings and the absence of a dividend yield.

    More about KEFI Gold and Copper

    KEFI Gold and Copper plc is a mining exploration and development company focused on gold and copper assets in emerging markets. Its primary project is the Tulu Kapi gold development in Ethiopia, which is being advanced through its subsidiary Tulu Kapi Gold Mines S.C. The company works with a consortium of international and local contractors, financiers and government stakeholders to develop and operate large-scale precious metals projects.

  • Clarkson Raises Dividend Despite Lower Profits as Order Book and Cash Position Strengthen

    Clarkson Raises Dividend Despite Lower Profits as Order Book and Cash Position Strengthen

    Clarkson PLC (LSE:CKN) reported a decline in underlying profit before tax for 2025 to £90.6m, down from £115.3m in the previous year, while revenue edged lower to £631.4m. The company attributed the softer performance to a challenging operating environment marked by geopolitical tensions, tariffs and sanctions that weighed on activity during the first half of the year.

    Despite the reduction in earnings, Clarkson increased its full-year dividend by 3% to 112p, extending its record of annual dividend growth to 23 consecutive years. The group also highlighted strong cash generation, with free cash resources rising to £232.0m by the end of the period.

    Management noted that trading conditions improved during the second half of 2025 and that this momentum has continued into early 2026. The company is supported by a larger forward order book valued at US$244m, alongside stronger spot market activity compared with the same period a year earlier.

    Clarkson also announced that long-serving chief financial officer and chief operating officer Jeff Woyda plans to retire in 2026. The board has begun a search for a successor while emphasising that the company’s diversified operations, strong balance sheet and continued investment in talent and technology position it to manage ongoing macroeconomic and geopolitical uncertainty.

    From an investment perspective, Clarkson continues to demonstrate solid financial performance, supported by steady revenues and profits and a robust balance sheet. Technical indicators suggest a positive trend in the share price, though elevated levels may indicate potential near-term overbought conditions. The company’s valuation appears balanced, with a reasonable price-to-earnings ratio and an attractive dividend yield. Insider share purchases have also helped reinforce investor confidence.

    More about Clarkson

    Clarkson PLC is a FTSE 250 company and a global provider of integrated services and investment banking capabilities for the shipping and offshore sectors. Founded in 1852, the group offers shipbroking, market research, logistics support and capital markets advisory to clients worldwide.

    The company operates through more than 60 offices across 25 countries and employs over 2,250 people across four business divisions. Acting as a key intermediary in global seaborne trade and commodity markets, Clarkson continues to invest in digital platforms and data-driven tools while leveraging its cash-generative model and strong balance sheet to support long-term growth.

  • Phoenix Copper Dismisses Chairman and CFO After Probe Into Undisclosed Payments

    Phoenix Copper Dismisses Chairman and CFO After Probe Into Undisclosed Payments

    Phoenix Copper (LSE:PXC) has removed executive chairman Marcus Edwards-Jones and chief financial officer Richard Wilkins following an internal investigation that uncovered undisclosed related-party transactions and unauthorised payments.

    The inquiry found that approximately US$1.77m in payments were made between 2016 and 2025 to Lloyd Edwards-Jones S.A.S., a company owned and directed by Edwards-Jones, without the knowledge or approval of the board. The investigation also concluded that Wilkins shared in the proceeds. According to the company, these payments should have been disclosed as related-party transactions under market regulations but were not.

    In addition, the investigation identified about £0.61m in further unauthorised payments connected to bond financing arrangements, some of which were made despite explicit instructions from the board not to proceed. Phoenix Copper said it intends to pursue recovery of the funds involved, and both former executives have indicated their willingness to cooperate with the process.

    To stabilise governance following the findings, independent non-executive director and audit committee chair Catherine Evans has been appointed interim non-executive chair. She is working alongside the chief executive, interim CFO, advisory board and external advisers to strengthen oversight and maintain relationships with stakeholders. The company is also outsourcing its company secretarial services and has informed its auditor, Crowe UK LLP, of the historical transactions. At present, management expects additional related-party disclosures to be required rather than restatements of previous financial statements.

    The governance developments come as the company continues to face funding pressures. Phoenix Copper said its current cash resources are expected to cover obligations only until the end of the second quarter of 2026 unless new financing is secured. The company is in discussions to amend a short-term loan facility with Riverfort Global Opportunities and renegotiate terms with Indigo Capital, and plans to update shareholders once these negotiations are concluded.

    The group’s outlook remains constrained by weak financial performance, including the absence of revenue, widening losses and increasing cash burn, which heightens the risk of further funding requirements and potential shareholder dilution. Technical indicators are mixed but generally weak, with the share price trading below key moving averages, while valuation metrics remain limited due to negative earnings and the lack of a dividend.

    More about Phoenix Copper

    Phoenix Copper is an AIM-listed exploration and emerging mining company focused on base and precious metals projects in the United States. Its flagship asset is the Empire Mine in Idaho’s historic Alder Creek mining district, where the company holds an 80% interest and has significantly expanded the open-pit copper, gold and silver resource through drilling since 2017.

    The Empire underground mine beneath the proposed open pit has a long history of high-grade production including copper, gold, silver, zinc and tungsten, and the company published its first mineral reserve statement for the open-pit project in 2024. Phoenix Copper also controls several additional historic mines in the district, the Red Star silver-lead discovery, the Navarre Creek gold exploration project, and two cobalt properties within the Idaho Cobalt Belt. The company is listed on AIM in London and also trades on the OTCQX market in New York.

  • Ferrexpo Restarts Production in Ukraine While Swiss Banking Issue Emerges

    Ferrexpo Restarts Production in Ukraine While Swiss Banking Issue Emerges

    Ferrexpo (LSE:FXPO) has resumed production at its Ferrexpo Poltava Mining (FPM) operation in Ukraine after a temporary halt in January, supported by improved availability and pricing of both domestic and imported electricity.

    Currently, one pellet production line is back in operation, and the company has restarted exports of its premium iron ore pellets to customers across Eastern and Central Europe. Ferrexpo is utilising its own rail wagon fleet to support logistics, demonstrating continued operational resilience despite ongoing infrastructure and energy challenges linked to the regional environment.

    Separately, the company disclosed that its Swiss trading subsidiary, Ferrexpo AG, holds approximately US$3 million in deposits with MBaer Merchant Bank, which recently had its banking licence revoked and has entered liquidation. Ferrexpo said it currently expects to recover the full amount of the deposit.

    While the issue is not expected to materially affect operations in Ukraine, the company noted that difficulties in establishing alternative cross-border banking arrangements for Ferrexpo AG could create risks if not resolved promptly.

    From an outlook perspective, Ferrexpo continues to face financial pressures stemming from declining revenue and profitability. However, technical indicators for the stock suggest stronger momentum in the market. Valuation remains challenging due to negative earnings. Recent corporate developments highlight both the operational challenges facing the company and its ability to maintain production and exports in a difficult environment.

    More about Ferrexpo

    Ferrexpo is a Swiss-headquartered iron ore producer with major mining and processing operations in Ukraine and a primary listing on the London Stock Exchange under the ticker FXPO. The company supplies high-grade iron ore pellets to steelmakers around the world, positioning its products as a higher-efficiency and lower-carbon feedstock for modern steel production. Ferrexpo has more than 50 years of operational history in the iron ore sector.

  • Helix Exploration Secures First Helium Transport Trailer as Supply Shortage Intensifies

    Helix Exploration Secures First Helium Transport Trailer as Supply Shortage Intensifies

    Helix Exploration (LSE:HEX) has leased its first high-pressure jumbo tube trailer, establishing dedicated capacity to transport compressed helium from its Rudyard Helium Project as the company moves closer to operational readiness.

    The trailer will enable the company to begin handling helium logistics as production approaches, and Helix intends to expand its fleet in the coming months to align with expected output growth and customer delivery commitments.

    The development comes at a time of tightening global helium supply. A significant shortage has emerged following the shutdown of all three helium plants in Qatar and the closure of the Strait of Hormuz, events that have driven spot prices sharply higher and raised concerns for industries reliant on helium, including semiconductor manufacturing and other advanced technologies.

    By advancing the Rudyard project as an independent helium source in the United States, Helix aims to provide supply that is not tied to LNG processing or vulnerable to geopolitical shipping disruptions. The company believes this could position the project as a strategic domestic supply option for U.S. industrial and technology sectors.

    More about Helix Exploration Plc

    Helix Exploration Plc is a helium exploration and development company focused on the Montana Helium Fairway in northern Montana. Its flagship asset, the Rudyard Helium Project, targets helium and nitrogen gas within the Souris and Red River geological formations. The company aims to bring a domestic helium supply to market by leveraging existing infrastructure and relatively low-cost processing methods, supporting U.S. industry with a dedicated helium source.

  • Cordel Extends Genesee & Wyoming Contract With Expansion Into Canadian Rail Network

    Cordel Extends Genesee & Wyoming Contract With Expansion Into Canadian Rail Network

    Cordel Group PLC (LSE:CRDL) has secured an extension to its agreement with Genesee & Wyoming Inc. that expands the deployment of its rail analytics technology into the customer’s Canadian operations.

    Under the upgraded contract, Cordel’s systems will now cover seven regional subdivisions within Genesee & Wyoming’s Canadian division, marking the company’s first deployment with this customer in Canada. To date, more than 1,000 miles of rail corridor data have already been collected and will be processed through Cordel’s artificial intelligence platform.

    The captured data is expected to be analysed and delivered within approximately two months, with the results integrated into Genesee & Wyoming’s enterprise-wide Cordel Connect system. The expansion highlights the scalability of Cordel’s analytics platform and supports management’s confidence in achieving its full-year targets.

    Despite continued commercial progress and strong revenue growth, the company’s outlook remains constrained by weak profitability and lower-quality cash flow. Technical indicators also remain negative, with the share price trading below major moving averages. Valuation metrics provide limited support due to the company’s loss-making profile and the absence of dividend yield data.

    More about Cordel Group PLC

    Cordel Group PLC is an artificial intelligence platform provider specialising in transport corridor analytics for the global rail industry. The company develops integrated hardware and software solutions that capture and analyse large datasets from rail networks, using LiDAR sensors and advanced AI algorithms to monitor infrastructure, improve operational efficiency and support maintenance planning for freight and passenger rail operators worldwide.

  • SkinBioTherapeutics Appoints Interim CEO Rachel Parsonage to Board During Strategic Transition

    SkinBioTherapeutics Appoints Interim CEO Rachel Parsonage to Board During Strategic Transition

    SkinBioTherapeutics (LSE:SBTX) has appointed interim chief executive Rachel Parsonage to its board of directors after completing the required regulatory due diligence process by the company’s nominated adviser.

    Parsonage brings more than 25 years of leadership experience in the consumer beauty and wellness sectors, having guided businesses through periods of expansion and organisational change. Her appointment comes at a pivotal time for the Newcastle-based life sciences company as it focuses on internal engagement with employees and commercial partners while awaiting the outcome of an external investigation and preparing its upcoming half-year financial results.

    The group continues to build its business around its proprietary SkinBiotix technology platform, which underpins both cosmetic skincare products and gut–skin axis supplements. Partnerships such as Croda’s Zenakine-branded active ingredient and retail distribution through channels including Amazon and Superdrug form part of its strategy to expand market presence. The company is also pursuing acquisitions aimed at strengthening distribution networks, geographic reach and manufacturing capabilities.

    From an investment perspective, the company’s outlook remains constrained by ongoing operating losses and negative operating and free cash flow, despite strong revenue growth. Technical indicators also remain weak, with the share price trading in a clear downtrend across major moving averages and showing bearish momentum signals. Valuation metrics are difficult to assess given the negative price-to-earnings ratio and the absence of dividend yield support.

    More about SkinBioTherapeutics

    SkinBioTherapeutics is a UK-based life sciences company focused on skin health, built around its proprietary SkinBiotix platform developed in collaboration with the University of Manchester. The company’s core strategy targets the skin healthcare market through cosmetic skincare and gut–skin axis nutritional supplements, supported by commercial partnerships such as Croda’s Zenakine and retail distribution through platforms including Amazon and Superdrug.

    Listed on AIM since 2017 and headquartered in Newcastle, the group is pursuing a consolidator strategy within the skincare and cosmetics sector, acquiring complementary businesses to broaden distribution, enhance manufacturing capacity and accelerate the growth of its in-house brands, including SkinBiotix and AxisBiotix.

  • Strix Strengthens Balance Sheet After Billi Sale as Trading Shows Signs of Stabilisation

    Strix Strengthens Balance Sheet After Billi Sale as Trading Shows Signs of Stabilisation

    Strix Group (LSE:KETL) has reported stabilising trading conditions across its business, with improved performance in its Controls division and a return to growth in Consumer Goods. The company now expects revenue of approximately £150m for the year ending 31 March 2026, alongside adjusted pre-tax profit in the range of £9.8m to £10.2m.

    Performance has been influenced by higher input costs, particularly for copper and silver, as well as the absence of a rebound in volumes within regulated markets and a reduction in promotional activity. However, management noted that ongoing inventory reductions and implemented price increases are beginning to support margins.

    The group has also significantly strengthened its financial position following the sale of its Billi division, which generated net proceeds of around £105m. The transaction enabled Strix to repay its multi-bank debt facilities, leaving the company with approximately £35m in net cash and a reduced £25m revolving credit facility that remains undrawn.

    Alongside the balance sheet improvement, Strix has introduced a cost optimisation programme expected to deliver around £2m in annualised savings over the next 18 months. The company has also launched a £10m share buyback programme and reached heads of terms for a manufacturing and development partnership with Billi. Meanwhile, the search for a new chief executive continues ahead of the planned departure of current CEO Mark Bartlett in May 2026.

    The company’s outlook reflects a combination of strong technical momentum and relatively reasonable valuation metrics, balanced against financial performance challenges. While the share price trend remains positive, ongoing issues related to profitability and leverage highlight areas that will need improvement to support sustainable long-term growth.

    More about Strix Group

    Strix Group, founded in 1982 and headquartered on the Isle of Man, is a global leader in the design and manufacture of kettle safety controls and related technologies used in water heating and temperature management. Listed on AIM under the ticker KETL, the company has expanded into broader water-related technologies, including filtration and consumer water solutions through brands such as Aqua Optima and LAICA.

  • Tekmar Reports Record Order Book as Project Aurora Restructuring Drives Recovery

    Tekmar Reports Record Order Book as Project Aurora Restructuring Drives Recovery

    Tekmar Group (LSE:TGP) has reported audited results for the year ended 30 September 2025, posting revenue of £28.7m and adjusted EBITDA of £0.1m. While both figures declined compared with the prior year, they were in line with market expectations, and the company recorded an improvement in gross margins to 34%.

    Management attributed the margin improvement to progress under its Project Aurora restructuring programme, which has streamlined operations, reduced costs and sharpened the group’s commercial focus. The company also pointed to a notable rebound in trading during the second half of the year.

    Tekmar reported substantial progress in addressing legacy defect notifications, confirming that these issues have been resolved without any cash impact. The group also ended the period with a record order book valued at £40.7m, including £26m of revenue already secured for FY26. Its balance sheet has also strengthened following the sale of Innovation House, providing additional financial flexibility as the company pursues growth opportunities.

    Momentum has continued into the new financial year, with the group securing £43m of new orders since July 2025. Management expects first-half FY26 performance to surpass the equivalent period last year, while full-year results are anticipated to align with current market forecasts.

    The board believes that the successful implementation of Project Aurora, supported by governance changes including a refreshed board and the appointment of a new chief financial officer, is positioning Tekmar to operate as a more diversified and profitable engineering technology business within the expanding offshore energy sector.

    Despite improving operational momentum, the company’s outlook remains constrained by historically weak financial performance, including negative profitability and cash flow pressures. Technical indicators provide some positive signals, though they remain insufficient to fully offset the financial challenges. Valuation metrics are also difficult to assess given the company’s negative earnings and the absence of a dividend yield.

    More about Tekmar Group plc

    Tekmar Group plc is a UK-based provider of asset protection technology and engineering services for offshore energy and marine infrastructure projects. Through its Offshore Energy and Marine Civils divisions, the company delivers geotechnical design, simulation and engineering analysis, along with specialised equipment and subsea protection technologies used in offshore wind farms, marine construction and other offshore energy developments worldwide.