News

TechMARK movers: Bede offer under current value

21 February 2008 13:43:00

X-ray equipment specialist Bede lost almost half of its value on news that an indicative offer received by the company is for far less than the existing value of the business.

"This indicative offer is significantly below the current market value of Bede," said the group, which confirmed it was in bid talks last July.

The firm said it has granted access to due diligence for the potential offeror.

It added that its current net debt position is £1.1m and it anticipates that borrowings will continue within current overdraft facility limits until the end of the current quarter.

Cancer drug developer Antisoma gained a fifth of its value on news it has swung into profit at the half way stage and that cancer drug AS1409 has entered into clinical trials.

The firm said final results from a phase I trial started in patients with renal cancer and melanoma are expected in 2009.

The company, which now has four drugs in clinical trials, also reported a pre-tax profit of £4.12m for the six months to 31 December 2007 versus a loss of £7.49m the year before. Revenue leapt to £16.53m from just £0.3m in 2006.

FTSE TechMARK - Fallers
Bede (BED) 0.88p -46.01%
Oxford Biomedica (OXB) 28.00p -5.08%
Tadpole Technology (TAD) 1.80p -4.26%
Morse (MOR) 53.00p -3.64%
Puricore (PURI) 29.50p -3.28%
Trafficmaster (TFC) 41.50p -2.92%
Oxford Instruments (OXIG) 185.00p -2.63%
Ardana (ARA) 23.00p -2.13%
Elan (ELA) € 16.84 -1.64%
ClinPhone (CNP) 96.00p -1.54%

FTSE TechMARK - Risers
Antisoma (ASM) 29.50p +20.41%
BATM Advanced (BVC) 38.25p +9.29%
Microgen (MCGN) 43.00p +7.50%
Vernalis (VER) 8.87p +6.23%
Zetex (ZTX) 36.25p +5.07%
Imagination Technologies (IMG) 96.75p +4.59%
Vectura Group (VEC) 46.50p +3.91%
GB Group (GBG) 29.50p +3.51%
Vislink (VLK) 48.00p +3.23%
Biocompatibles International (BII) 150.00p +2.39%

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