Lung cancer diagnostics developer Lung Life AI (LON: LLAI) still plans to leave AIM following its US distribution deal

This will leave LungLife AI with the activities of running the LungLB test and collecting royalties. Circulogene will have exclusive rights to distribute and further development the LungLB lung cancer diagnostic in the US and the other countries it is involved in.

Lung Life AI (LON:LLAI) shares soared 233% on Monday after it announced a US distribution deal for its LungLB lung cancer diagnostic with Circulogene. This will leave LungLife AI with the activities of running the LungLB test and collecting royalties. Circulogene will have exclusive rights to distribute and further development the LungLB lung cancer diagnostic in the US and the other countries it is involved in. It will also receive some of LungLife AI’s equipment. The royalty payment will be 20% of net revenues generated by the test in the first year, reducing to 15% in the second year. This is a two year agreement with potential for annual renewals. There is an option for Circulogene toacquire all the IP and licences for $6.2m less any payments already made. Circulogene is making an advanced payment of $375,000, which is returnable if the deal does not go ahead. There was $850,000 in cash at the end of March and costs are being reduced. An application has been submitted to a Medicare contractor for the technical assessment of LungLB.

The share price of Alba Mineral Resources (LON:ALBA) shot up after the second auction of a limited edition coin containing one ounce of Welsh gold was announced on Monday. The first auction put a price of £20,000 on the coin, which was more than eight times the price of gold at the time. The estimate had been set at £20,000-£25,000. The second coin auction closed on 16 April and the share price jumped on the following day. According to the auction website the coin was not sold. The estimate was £22,500-£32,500, so the bidding probably did not reach that level. There is a third gold coin. Despite the fact the coin was not sold, the share price jumped 80% to 0.0315p.

Catenai (LON:CTAI) proposes a sub-division of capital because the share price is lower than the nominal value so no shares can be issued to raise money. The nominal value will be reduced from 0.2p to 0.01p. Catenai recently announced that it had raised £750,000 at 0.15p/share, including a £150,000 subscription by Sanderson Capital Partners. Director fees of £450,000 have been settle by the issue of 30 million shares. Catenai intends invest in Alludium, which has developed a platform for AI process automation. Subject to shareholder approval, £500,000 will be invested in Alludium and when cash is received from Klarian, or raised in a share issue, a further £450,000 may be invested. That would be a 13% stake in Alludium in total. The share price is 78.1% higher at 0.285p.