TechMARK movers: ProStrakan's woes

7th Sep 2010 15:28

Drug developer ProStrakan has lost nearly one-third of its value after it revealed a catalogue of problems.ProStrakan has lost its chief executive and the FDA is delaying approval of its Abstral cancer pain drug. Abstral was expected to be approved this month. The closure of its factory in the US has meant that ProStrakan can't meet demand for its Sancuso skin patch. This has cost it up to £5m. There has been a positive reaction to the news that Mike Phillips will become finance director of Micro Focus. Phillips was chief executive of IT services firm Morse prior to its takeover and before that he was finance director. George O'Connor of Panmure Gordon thinks Phillips is the right man for the job. He believes that Phillips will sort out the accounts and make sure that M&A deals go through. FTSE TechMARK - RisersVislink (VLK) 17.50p +12.90%Micro Focus International Plc (MCRO) 334.90p +5.68%Torotrak (TRK) 21.50p +4.65%Axis-Shield (ASD) 300.00p +4.17%Parity Group (PTY) 7.50p +3.33%Sinclair Pharma (SPH) 27.50p +2.80%DRS Data (DRS) 17.25p +1.45%Intec Telecom Systems (ITL) 60.00p +1.27%Kewill (KWL) 99.25p +1.02%BATM Advanced (BVC) 25.00p +1.01%FTSE TechMARK - FallersProStrakan (PSK) 53.00p -32.48%Asterand (ATD) 10.00p -6.98%Emblaze (BLZ) 47.75p -5.91%AEA Technology (AAT) 16.50p -5.71%Antisoma (ASM) 5.65p -5.04%Innovation Group (TIG) 9.75p -4.88%Optos (OPTS) 92.00p -4.17%Phytopharm (PYM) 9.00p -4.05%Cable & Wireless Worldwide (CW.) 69.95p -3.85%XP Power (XPP) 827.50p -3.78%