Shares in Pursuit Dynamics were back on the rise on Wednesday after the fluid technology firm reassured investors that it continues to explore a range of options in terms of funding growth.
The stock plunged 22% the previous day on speculation of a possible share placing.
Back in June the company admitted it had failed to convert recent opportunities in multiple lines of business into exclusive licences and that it was cutting its head-count from 61 to 40.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In Wednesday's statement, the firm said that while it weighs up its funding options it "continues to work on building its sales pipeline in its Brewing Food and Beverage line of business and in its Public Health & Safety line of business it expects to launch its M800 mobile disinfection unit into the market during September".
The company has previously stated that its options for funding include industrial licences, joint ventures and partnerships. Cash balances at June 22nd were £6.1m.
The share price rose 9.61% to 8.50p by 14:23. The shares are down over 95%, or 192.50p, in the past year.
NR
