Small cap round up

Shares in Coral Products plummeted after the maker of moulded things warned that profitability for the year would likely be “materially below” expectations, after poor trading at its subsidiary.The company said that it has taken measures to improve the performance at its subsidiary, Coral Products Mouldings, in order to mitigate against the poor trading during November and December 2016.

Shares in Ubisense Group soared after the developer of enterprise location intelligence systems said it expects revenue for 2016 to be “significantly” higher than the previous year, largely due to new contract wins. The AIM-listed company expects revenue growth, margins, cost management and its order book for calendar 2016, to all be “significantly” better than the results achieved in 2015.

CEPS announced on Friday that, following its announcement on 26 January regarding a proposed placing, it has successfully placed 3,626,118 new ordinary shares at a price of 35p per share to raise £1.27m before expenses with institutional and private investors.The AIM-traded firm said application was being made to the London Stock Exchange to admit the Placing Shares to trading on AIM, with admission expected to occur on or around 2 February.

RedX Pharma, an AIM listed drug discovery and development company, has issued a statement about the growing potential for Porcupine inhibitors in the treatment of cancer patients, fibrotic diseases, such as idiopathic pulmonary fibrosis (IPF), diabetic nephropathy (DN) and non-alcoholic steatohepatitis (NASH). According to the company’s findings, there is understanding developing around the activation of Wnt/b-catenin signalling pathway and response to checkpoint inhibition in cancer patients implying a role for Porcupine inhibitors in improving immunotherapy responsiveness over and above their potential as monotherapies.

Quixant, a technology provider to the gaming industry, said that its results for calendar year 2016 will be in line with expectations after record sales of gaming monitors and growth in customer numbers.The AIM-listed company said that sales of its core gaming platforms continued to build through the year, resulting in record sales and demand for gaming monitors, which exceeded the company’s expectations.

Genedrive, an AIM listed near patient molecular diagnostics diagnostics company, has progressed well in the second half despite difficulties faced with its Tuberculosis (TB) assay in India. Group revenues “significantly” rose to £2.8m for six months ended 31 December 2016, up from £2m in the previous period with diagnostic related revenues at £1.2m compared to £0.5m.