Vernalis to raise £68.5m 10/02/2012
Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Simon Fry's volatile investment group Crosby Capital Partners has lifted interim pre-tax profits 40 per cent to £35 million.
Ex-Nomura star Fry is chief executive of AIM-quoted Crosby, whose restructured resources investment IB Daiwa has been active on the exploration and corporate fronts, particularly through its wholly-owned Lodore subsidiary. Cayman Islands-based Crosby's merchant banking and asset management divisions have been similarly active and Fry suggests the second half year should bring more deals for Lodore and the group's corporate finance arm.
Recommended by Growth Company Investor a year ago at 50.75p, Crosby shares reached 97.5p in March, but have since lost ground. They are up 1.75p today at 72.75p and could rally further if attractive deals materialise.
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Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Magnolia Petroleum (MAGP) has acquired 800 acres in the Mississippi Lime formation in Oklahoma.
Gold explorer Condor Resources (CNR) has reported encouraging results from drilling at its La India project in Nicaragua.
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Africa-focused Tower Resources (TRP) has raised £5.4 million via a placing with a mixture of institutional investors and directors.
Beleaguered travel operator Thomas Cook (TCG) has reported a loss of £91 million its first quarter also announcing the sale of its Indian division.