What Made These 2 FTSE AIM All Share Medtech Stocks Surge Today?

Summary

  • Oncology firm Physiomics stocks soared after the company announced a new contract with Numab Therapeutics
  • Detection company Kromek Group announced an improvement in commercial activity across all business segments and pipeline
  • Medical services industry stocks rose despite being hit by pandemic related woes

The UK’s medical equipment and services industry has recently gained traction despite being affected by the pandemic led supply chain constraint.

In this article, we take a look at two FTSE AIM All Share listed stocks in the medical equipment and services industry.

Physiomics PLC (LON: PYC)

FTSE AIM All Share listed Physiomics is an oncology focused biotechnology company based in the UK. The company announced a contract with a new client Swiss based biopharmaceutical firm, Numab Therapeutics, on Tuesday. The new project is expected to last for three months and aims to use the oncology company’s experience in mathematical modelling of multi-specific pharmaceuticals for the same.

The company had announced on 10 May that it does not expect to meet its FY 2020 market expectations due to project delays caused by the covid-19 crisis and would focus on long term value generating activities. It expects to report a post-tax loss between £170,000 and £200,000 for the period compared to a post-tax loss of £64,424 in FY 2019.

(Source: Refinitiv, Thomson Reuters)

Physiomics shares were trading at GBX 6.00, up by 2.56 per cent on 11 May at 13:56 hrs +1 GMT. The broader index FTSE AIM All Share was trading at 1,233.38, down by 1.95 per cent.

The company’s market cap stood at £5.69 million, and its revenue per share stands at 1.08p for the fiscal year ending on 30 April 2020.

Also Read: A Glance at 5 Healthcare Penny Stocks

Kromek Group PLC (LON: KMK)

FTSE AIM All Share listed company Kromek Group is a UK based medical technology company which is a pioneer in radiation detection products and solutions. The company announced a trading update for the year ended 30 April.

The trading update reported a rise in orders across all of its business divisions in medical, security screening and nuclear segments and an extensive commercial pipeline. Due to its increased commercial activity and pipeline, the company also added witnessing a significant sequential revenue growth from the H1 2021 to H2 2021.  

(Source: Refinitiv, Thomson Reuters)

Kromek Group’s stock prices rose by 0.32 per cent to GBX 15.70 on 11 May as of 14:31 hrs+1 GMT. Comparatively, the medical services sectoral index was trading at 6,838.39, down by 1.89 per cent for the same period.

The company’s market cap stood at £ 67.58 million, and its revenue per share stands at 3.80p for the fiscal year ending on 30 April 2020.

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