TechMARK movers: Ark soars as it cuts cash burn

9th Sep 2010 12:35

Shares in Ark Therapeutics have soared on the back of a restructuring that will halve the monthly cash outflow.The cancer treatments developer will focus on developing and licensing its gene technology platforms. A restructuring of the business and reduction of employees will enable Ark's cash to last into 2013. Ark is looking for a partner for Trinam, which prevents the blocking of blood vessels after surgery, and is also seeking to out-licence brain cancer drug Cerepro. Andrew Christie has stepped down as chairman and Iain Ross becomes executive chairman. RM has lost all of the share price improvement achieved on Tuesday when it confirmed a three-year contract extension with South Lanarkshire council. The information technology services contract, which is worth up to £14m, will run until September 2013. FTSE TechMARK - RisersArk Therapeutics (AKT) 6.25p +37.97%Renishaw (RSW) 980.00p +11.74%NXT (NTX) 12.25p +8.89%ARM Holdings (ARM) 409.90p +5.73%Optos (OPTS) 94.00p +4.44%DRS Data (DRS) 18.00p +4.35%E2V Technologies (E2V) 67.75p +4.23%Anite Group (AIE) 48.25p +3.76%CSR (CSR) 319.60p +3.20%Wolfson Microelectronics (WLF) 240.00p +3.11%FTSE TechMARK - FallersAveva Group (AVV) 1,418.00p -4.19%Phytopharm (PYM) 9.38p -4.05%Computacenter (CCC) 287.00p -3.20%Antisoma (ASM) 6.15p -3.00%ProStrakan (PSK) 51.50p -2.83%Torotrak (TRK) 21.00p -2.38%RM Group (RM.) 133.25p -2.02%CML Microsystems (CML) 104.50p -1.88%Parity Group (PTY) 7.13p -1.66%NCC Group (NCC) 430.00p -1.66%