TechMARK movers: Ark continues to sink

11th Mar 2011 12:09

Shares in drug developer Ark Therapeutics are continuing to fall after Wednesday's results for 2010. The shares have fallen by 12% this week. Ark reported a loss of £16.9m, down from £20.2m in 2009, but still a significant figure. Chairman Iain Ross admitted that it was "not a good year for shareholders". Ark's market value is little more than the £7.07m of cash it had in the bank at the end of 2010, although that does not include the money subsequently received for the sale of Ark's wound care business, which brought in a further £770,000. The shares are trading at a 54% discount to 2010 net asset value, excluding intangibles. Engineering design software supplier Aveva has risen on the back of UBS upgrading it from sell to neutral. FTSE TechMARK - Risers Skyepharma (SKP) 40.00p +3.90%BATM Advanced Communications Ltd. (BVC) 21.75p +2.35%Aveva Group (AVV) 1,675.00p +2.01%ARM Holdings (ARM) 532.00p +1.82%Micro Focus International Plc (MCRO) 315.50p +1.45%Cable & Wireless Worldwide (CW.) 73.40p +1.17%Psion (PON) 89.00p +0.56%E2V Technologies (E2V) 110.25p +0.46%FTSE TechMARK - Fallers Antisoma (ASM) 2.50p -6.54%Ark Therapeutics Group (AKT) 3.70p -5.73%Oxford Biomedica (OXB) 6.00p -4.76%Imagination Technologies Group (IMG) 436.10p -3.94%Wolfson Microelectronics (WLF) 262.50p -3.85%Corin Group (CRG) 45.25p -3.72%Dialight (DIA) 674.50p -3.64%Spectris (SXS) 1,355.00p -3.28%Alterian (ALN) 177.00p -2.48%RM (RM.) 149.00p -2.45%