Litigation Capital Management has suffered a torrid 2025, with its shares tumbling almost 70 per cent after a run of costly setbacks.
The group, which bankrolls big-ticket lawsuits, took another hit this week when it abandoned an Australian class action and wrote off £15million, the hefty sum already sunk into the claim.
It is now trying to claw back part of that loss by pursuing the law firm originally tied to the case.
Patrick Moloney, the chief executive, admitted the withdrawal was ‘challenging but necessary’ after flaws emerged in the preparation of the suit.
The latest reversal follows a string of disappointments that have left investors rattled and prompted the company to bring in Luminis Partners for a strategic review.
The shake-up will consider the future shape of the business after one of the toughest years in its history.
Litigation Capital Management abandoned an Australian class action and wrote off £15million
Turning to the wider market, the AIM All-Share had a quiet but positive week, rising 0.7 per cent to 773.09. It outpaced the FTSE 100, which slipped 0.5 per cent.
It has been a busy period for life sciences investors, with upbeat news mixed with less inspiring updates.
Starting with the positives, a 116 per cent surge in GENinCode prompted the predictive genetics group to issue a statement.
It said it had no idea why the share price had soared so spectacularly.
But it also reiterated guidance from August, highlighting ongoing US regulatory talks and distribution discussions in America and Europe.
Renalytix rose 33 per cent after the diagnostics company struck a deal with US health tech firm Tempus AI to expand access to its kidneyintelX.dkd test.
The agreement will make the blood test available across Tempus’s network of American providers, broadening its reach among the 15 million people in the US living with type 2 diabetes and chronic kidney disease.
Futura Medical looked as if it had cracked a vast market when it developed an over-the-counter, fast-acting erectile dysfunction gel.
After a strong start, sales wilted, culminating in a profit warning on Friday that sent the stock down 40 per cent. Unsurprisingly, a strategic review is now underway.
There was better news in technology. Quadrise, which has created a chemical additive that makes shipping fuel greener and more efficient, advanced 33 per cent.
The propellant? The AIM-quoted firm announced the successful completion of a proof-of-concept fuel trial in Panama, with SparklePower at its El Giral plant.
Kromek, the radiation and bio-detection specialist, gained 24 per cent after posting its first-ever profit, beating expectations and setting the stage for growth in the coming year.
Cavendish said: ‘We believe this provides a solid platform for future growth and we reiterate our investment case.’ The broker thinks the shares, at 6p, are worth 26p.
Nativo’s shares jumped 61 per cent after it struck a deal to take full control of the Boku gold project in Peru.
It will acquire the 50 per cent it does not own at no cash cost, swapping its REINFO interest. Chief executive Stephen Birrell said the move would ‘streamline operations’.
Finally, Genflow Biosciences, the market’s only listed longevity business, caught the eye.
While much of its work targets human health, it has also been developing therapies that might one day extend the lives of dogs.
Two major animal health companies are showing interest. Although unnamed, they are signing confidentiality agreements that will allow data sharing and talks on collaboration.
Genflow’s team is working on a gene therapy based on a SIRT6 variant associated with people who live beyond 100 years.
It is already testing the treatment in beagles through its GF-1004 dog ageing study, with no safety issues so far.
The new partnerships aim to assess whether the approach could extend the healthy lifespan of dogs and other pets, a sector growing rapidly as owners spend more on advanced treatments.
Eric Leire, chief executive, said the talks reflect ‘strong industry interest’ and could lead to licensing deals and commercialisation. The shares ended the week up 18 per cent.
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