Vernalis receives $2m milestone as part of research collaboration

Maryam Cockar Sharecast | 21 Apr, 2017 10:11 | | |

pharmaceuticals, drugs, lab
  • 17.50
  • -2.10%-0.38
  • Max: 17.50
  • Min: 17.50
  • Volume: 1,575
  • MM 200 : n/a
12:15 22/06/17
  • 14,921.32
  • 1.69%247.51
  • Max: 14,937.63
  • Min: 14,673.81
  • Volume: 0
  • MM 200 : n/a
15:00 22/06/17
  • 969.09
  • -0.22%-2.10
  • Max: 970.71
  • Min: 968.52
  • Volume: 0
  • MM 200 : n/a
15:00 22/06/17
  • 4,867.80
  • -0.10%-4.80
  • Max: 4,875.96
  • Min: 4,858.05
  • Volume: 0
  • MM 200 : n/a
15:00 22/06/17

Shares in Vernalis tumbled on Friday despite the drug developer announcing it had received a $2m milestone under one of its existing research collaborations.

The collaboration was to discover novel small molecules against an undisclosed target using Vernalis' fragment and structure-based drug discovery platform.

Chief executive Ian Garland said: "We are delighted to receive this payment which recognises the success of our research group's work."

Shares in Vernalis were down 13.71% to 21.25p at 0915 BST.

More news

14:49 FTSE 100 movers: Provident Financial recovers; United Utilities goes ex-div

London's FTSE 100 was down 0.3% to 7,426.43 in afternoon trade.

14:47 Sector movers: Diageo weighs on Beverages after costly takeover of Casamigos

Pharma and Industrial engineering shares are at the top of the leaderboard amid supportive news-flow and broker commentary.

14:36 Malvern launches first digital learning tech product with Playware

Educational services provider Malvern International announced on Thursday that, following the strategic plan announced in November 2016 and as part of its collaboration with Playware Studios Singapore announced in January 2017, it was launching its first digital offering in the area of learning technology.

14:10 Directa Plus teams up with Italian uniform manufacturer Alfredo Grassi

Graphene-based product producer and supplier Directa Plus announced that it had entered into joint development agreement (JDA) with Alfredo Grassi, which it described as a manufacturer of customised protective clothing, workwear and uniforms for private and public organisations globally.

14:08 Trans-Siberian Gold inks second debt facility at reduced cost

Trans-Siberian Gold clinched a second debt facility at a reduced cost.

14:02 Milestone's Nexstar launches know-your-customer product

Digital media technology company Milestone Group announced that Black Cactus Holdings - its joint venture partner in its subsidiary Nexstar - had launched a ‘know your customer’ (KYC) and anti-money laundering (AML) platform.

13:52 Defenx enters into software distribution agreement with partner BV-Tech

Cyber-security software group Defenx announced on Thursday that, further to the software acquisition and investment by BV-Tech announced on 11 April, the company entered into a software distribution contract as part of its strategic partnership with BV-Tech.

13:43 US unemployment claims tick higher

US jobless claims edged slightly higher last week.

13:38 Electrical Geodesics board tells shareholders to approve £29m Philips merger

Neurodiagnostic medical technology company Electrical Geodesics (EGI) announced on Thursday that it had reached an agreement on the terms of a recommended acquisition under which Philips will acquire all of the outstanding shares of EGI for an aggregate consideration of £29m in cash, pursuant to the terms of an agreement and plan of merger entered into on 21 June between EGI, Philips, Merger Sub and others.

13:33 LXB makes further letting progress at Rushden Lakes and Stafford Riverside

Jersey resident closed-ended real estate investment company LXB Retail Properties announced further progress on lettings at Rushden Lakes Phase 3 and at Stafford Riverside on Thursday.