Health technologies large and small were in focus on Thursday.
Smith & Nephew PLC (LON:SN), the replacement hip and knee joints specialist, was up 3.9% at 1,290p, topping the Footsie, after JP Morgan Cazenove abandoned its neutral position on the stock and recommended its clients be overweight the stock.
Cazenove has increased its price target to 1,411p from 1,369p.
Somewhat further down the scale, Avacta Group Plc (LON:AVCT), received a lift from a report by the Capital Network.
The shares climbed 0.8% to 67.04p but Capital Network's Riccardi Lowi thinks the shares are still undervalued following the announcement earlier this week of another collaboration, this time with OncoSec Medical Inc (NASDAQ:ONCS).
Avacta is a pioneer of Affimer technology - small, engineered proteins that are capable of binding specific molecular targets, in a similar way to antibodies.
Its lead immuno-oncology development programme is proceeding according to plan and multiple development milestones are expected in the course of 2018, Lowi wrote in a research note
The splendidly named Vast Resources PLC (LON:VAST) was a big riser on Thursday after announcing a proposed off-take agreement.
Vast has received an off-take offer for 100% of the copper and zinc concentrate from the Manaila and Baita Plai mines, while it has also signed a memorandum of understanding (MOU) for the early repayment of its loans.
Vast said the offer, from Mercuria Energy trading, was on "significantly more attractive" pricing terms than its previous off-take contract.
As for the MOU, this is with current lender Sub-Sahara Goldia Investments (SSGI).
"The proposed funds from Mercuria will also support the accelerated repayment schedule that has been agreed with our partners at SSGI providing significant cost savings to the company," said new chief executive, Andrew Prelea.
Vast's shares jumped 16.1% to 0.685p on the news.
Veterinarian drugs supplier Dechra Pharmaceuticals PLC (LON:DPH) has entered into a conditional acquisition agreement to acquire AST Farma and Le Vet for a total consideration of ?,?340.0 million on a debt-free and cash-free basis.
Around three-quarters of the total consideration will be satisfied in cash with the rest to be covered by the issue of new Dechra shares, which will be subject to a two year lock-in.
AST Farma is one of the leading companion animal pharmaceutical companies in the Netherlands.
Le Vet has focused on the European markets outside of the Netherlands. Working in partnership with AST Farma, Le Vet has developed a strong portfolio of products, and established a network of marketing partners across Europe, including Dechra, to sell them, the UK company said.
AST Farma and Le Vet together hold roughly 90 product registrations.
Shares in Dechra rose 174p to 2,236p, despite the company raising ?105mln through a placing of 5.12mln shares at 2,050p.
The market value of Summit Therapeutics PLC (LON:SUMM) increased by a quarter on the release of favourable results from a clinical trial.
Interim data from 24 weeks of Summit's PhaseOut DMD clinical trial indicated the utrophin modulator ezutromid significantly reduced muscle damage in patients suffering from Duchenne muscular dystrophy (DMD).
PhaseOut DMD, a 48-week open-label clinical trial, has enrolled 40 patients with DMD - one of the most common, fatal genetic disorders diagnosed in children around the world.
It predominantly affects boys and it results in the progressive wasting of muscles throughout the body.
The disease has an estimated incidence of 1 in 5,000 and a patient population in the developed world of around 50,000. Patients typically don't live beyond their late 20s.
It is caused by different genetic faults in the gene that encodes dystrophin, a protein that is essential for the healthy function of all muscles.
Today's data revealed that treatment with ezutromid resulted in a statistically significant and meaningful reduction in muscle damage as measured by a 23% decrease in mean developmental myosin in muscle biopsies at 24 weeks compared to the baseline.
A total of 14 of 22 patients showed a decrease in developmental myosin, with five of those showing a reduction of more than 40%.
"The significant reduction in muscle damage coupled with the increase in utrophin expression seen in PhaseOut DMD trial patients at 24 weeks is very encouraging as it suggests ezutromid may slow the relentless cycle of muscle fibre degeneration and regeneration that is a hallmark of DMD," said Professor Francesco Muntoni, director of the Dubowitz Neuromuscular Centre, at the UCL Institute of Child Health and Great Ormond Street Hospital for Children. Professor Muntoni is the principal investigator in PhaseOut DMD.
"These favourable interim results are certainly a step forward in the development of utrophin modulation as a treatment approach for this fatal disease in all patients with DMD," he added.
Top-line results are expected to be reported in the third quarter of 2018. After 48 weeks of treatment, all patients will have the option of enrolling into an extension phase; to date 18 of 19 eligible patients have enrolled into the extension phase.
Summit plans to conduct a randomised, placebo-controlled trial that could potentially support the accelerated and conditional approval of ezutromid in the US and EU respectively.
Shares in Summit were trading at around 225p.
For the market's tiddlers, little things can sometimes mean a lot, as in the case of biodegradable plastics specialist Biome Technologies PLC (LON:BIOM).
The eco-friendly disposable cups maker said it expects that to record a small profit before interest, tax, depreciation, amortisation, and share option charges for the 2017 financial year.
The shares rose 19p to 250p, lifting its market capitalisation to around ?5.9mln.
With the world and its dog concerned about the effects on the environment of the paper coffee cup - Britons alone drink more than 8mln takeaway coffees everyday, reportedly - the company's products should be much in demand.
It is difficult for recycling facilities to separate the inner plastic lining from the cardboard on coffee cups, which means only around 1% of cups can be recycled.
Biome's cups and lids are made from plant matter which, "in appropriate composting conditions", can disappear into carbon dioxide and water within a few months.
Journalists are conditioned to expect the worst when a company pops out a stock market announcement after the market has closed, so the Proactive team was pleasantly surprised by last night's statement from PCG Entertainment Plc (LON:PCGE), the Asia-Pacific online gaming and media group.
It has settled its dispute with Nick Bryant, its former boss.
Nick Bryant was axed last March after the service contract with Electric Warrior Ltd, which provided Bryant's services as CEO, was terminated.
Bryant and Electric Warrior brought an employment tribunal against the company as well as chairman Richard Poulden and fellow director Michael Mainelli personally.
Those claims have now been withdrawn after PCGE agreed to pay ?286,350 to the two parties.
The shares rose more than a fifth when trading started this morning.
Infrastrata PLC (LON:INFA) announced plans to raise money by issuing shares at 0.3p a pop, and not surprisingly, the share price headed south towards that placing price, settling at 0.305p, down 16.4% on the day.
The gas storage company has conditionally raised ?375,000 from the share placing, which it has earmarked for care and maintenance costs of it gas storage project at Islandmagee.
Infrastrata continues discussions with prospective providers of debt and other finance to fund the front-end engineering design (FEED) for the Islandmagee project, as well as commercialisation discussions with major "blue chip" potential customers and other prospective partners.
The troubles continue at Hornby Plc (LON:HRN), the maker of much-loved but not much-bought train sets and Airfix kits.
The shares, which have lost a third of their value over the last year and almost three-quarters of their value since February 2016, were down by almost a fifth this morning after it said it was having trouble pushing through price increases with some of its retail partners.
As a result of the reduction in discounting and a continuation of late product deliveries in the international segment; the sales performance over the key Christmas trading period was below management expectations, Hornby revealed.
Both of these factors had an equal impact up on the under performance of the business.
"Hornby aims to weather the storm and will hope that a leaner cost base and new products will eventually give it a better foundation to build a profitable business," observed Russ Mould, the investment director at AJ Bell.
Nighthawk Energy PLC (LON:HAWK) was up with the larks this morning, rising sharply after announcing a new development in its corporate debt restructuring programme.
The shares of the US-focused oil development and production company climbed 21% to 0.58p after it said it had appointed US investment banking firm SSG Advisors to advise on its available options for restructuring the existing debt outstanding on the reserves based loan with the Commonwealth Bank of Australia.
The oil company added it is currently in compliance with all the existing waiver covenants under the terms of the loan with the Aussie bank.
Investors were piling into functional polymers specialist Itaconix Plc (LON:ITX) early doors on the back of a licensing agreement with tremco-illbruck, a sealant and boding specialist.
Itaconix will receive a sales royalty on products sold incorporating its intellectual property.
The company's chief executive, Dr Kevin Matthews, said: "tremco-illbruck has indicated that it expects to launch products containing Itaconix's technology within 12 months and we anticipate receiving a modest income in 2018."
Shares were up 15% at 19.25p on the news.
Internet domains specialist Minds + Machines Group Ltd (LON:MMX) expects underlying earnings to be slightly ahead of expectations for 2017 after a strong second half.
Itaconix Plc (LON:ITX) has licensed out non-core polymers it has developed to tremco-illbruck, a sealant and boding specialist. The technology will be used to improve tremco's construction sealants.
Accesso Technology Group PLC (LON:ACSO) expects adjusted underlying earnings (adjusted EBITDA) to be "substantially ahead of expectations" when it reports its full-year results for 2017 in March.
Metal Tiger PLC (LON:MTR) has updated investors on the joint venture with MOD Resources Limited (ASX:MOD) in Botswana where a prefeasibility study, for the T3 Open Pit project, is due to be completed in the coming days. At the same time, it added that a major regional exploration programme is also underway focussing on targets outside the T3 area.
Ergomed Plc (LON:ERGO) posted another year of strong top-line growth and said 2018 is shaping up to be another bumper 12 months. The pharma services and drug development company posted total sales of ?47mln, up 21%, while net service revenues were ahead 35% at ?39mln.
Asia-Pacific online gaming and media group PCG Entertainment Plc (LON:PCGE) has settled with its former boss, bringing to an end a ten-month legal battle.
Haydale Graphene Industries PLC (LON:HAYD) has reported a sharp pick-up in interim sales helped by the separation of its business into two units.
The fourth quarter was the best of the year for sales of Revolution, the flagship product of portfolio analytics services provider StatPro Group PLC (LON:SOG).
Trading and risk management software provider Brady Plc (LON:BDY) continues to make rapid progress in its transition to a SaaS model, with recurring revenues accounting for two-thirds of group revenues in 2017.
Bacanora Minerals Ltd (LON:BCN) has filed the technical report for its feasibility study on the Sonora lithium project in Mexico.
Cabot Energy Plc (LON:CAB) chief executive Keith Bush has told investors that the Canada focussed oil firm's evolution into a significant producer starts now. The company, which recently bought-out its Canadian partner to take 100% of its oilfield assets, revealed that production averaged 827 barrels of oi per day through the first half of January, and output for 2017 averaged 400 bopd.
Europa Oil & Gas Holdings Plc (LON:EOG) has announced the appointment of a new chairman, with Simon Oddie to replace Colin Bousfield. Also, the company has also hired former Petroceltic boss Brian O'Cathain as a non-executive director.
Strategic Minerals Plc (LON:SML) (USOTC:SMCDY) has announced that its Ebony Iron Pty Ltd subsidiary has completed the binding exchange of contracts for the acquisition of Leigh Creek Copper Mine Pty Ltd from Resilience Mining Australia Pty Ltd for a total consideration of AS$3.00mln (approximately ?1.71bn).
Savannah Resources Plc (LON:SAV) has strengthened its lithium management team as it develops its Mina do Barroso lithium project in Portugal.