TechMARK movers: Antisoma drug shock

31st Jan 2011 12:26

Antisoma has lost nearly two-thirds of its value after its phase III trial for the AS1413 treatment for secondary acute myeloid leukaemia showed the drug to be ineffective. The data published from the trial shows that the drug is no better than the current standard and the drug is being dropped. Antisoma has also ended its phase II trial for leukaemia drug AS1411, which also appears ineffective. Broker Peel Hunt reckons that Antisoma has 3.5p a share in cash but expects that to fall to 2p a share - around the present share price. Peel Hunt sees little future for Antisoma as it has few other assets. Communications equipment supplier Filtronic has reported higher interim revenues but also a higher operating loss. Panmure Gordon has cut its revenue forecast for the year to May 2011 by £1.5m to £18.5m because of the uncertainty caused by the new ownership of important customer Nera. The broker also expects a higher loss. Electronic components manufacturer e2v Technologies says that trading since the end of September 2010 has been ahead of expectations. That means that the performance to March 2011 should be better than expected. Trading has been much better than the previous year. The order book for the next 12 months is worth £143m, up £38m on the end of 2009 figure. The total order book is flat at £166m. Net debt was down to £33m at the end of 2010 and the March 2011 figure will be lower than originally forecast. FTSE TechMARK - Risers Ceva Inc. (CVA) 1,350.00p +8.00%Sepura (SEPU) 50.00p +4.71%E2V Technologies (E2V) 111.00p +4.23%Ricardo (RCDO) 335.00p +3.08%Misys (MSY) 332.80p +2.09%Fidessa Group (FDSA) 1,561.00p +1.36%Asterand (ATD) 19.75p +1.28%Psion (PON) 93.75p +0.81%Corin Group (CRG) 48.50p +0.52%ProStrakan Group (PSK) 101.00p +0.50%FTSE TechMARK - Fallers Antisoma (ASM) 2.11p -66.24%Filtronic (FTC) 34.00p -18.07%Vernalis (VER) 47.00p -3.59%Optos (OPTS) 190.00p -3.31%Emblaze Ltd. (BLZ) 42.00p -2.89%Imagination Technologies Group (IMG) 358.90p -2.61%Oxford Biomedica (OXB) 5.65p -2.08%XP Power Ltd. (DI) (XPP) 1,361.00p -1.73%KCOM Group (KCOM) 57.75p -1.70%RM (RM.) 167.00p -1.47%