Poolbeg Pharma, Arecor Therapeutics, hVIVO, Ilika, Kodal Minerals, Connecting Excellence

Why It Matters

These updates underscore accelerating commercialization and innovative financing in under‑followed small caps, offering investors fresh growth catalysts across biotech, clean tech, minerals and crypto‑enabled services.

Key Takeaways

• Poolbeg Pharma secures full MHRA approval for UK topical trial
• Arecor's AT278 insulin shows superiority, targeting 2 million pump users
• hVIVO exceeds 2025 EBITDA guidance, holds £14 million cash
• Ilika integrates Goliath solid‑state battery into Brompton e‑bike for 2027
• Kodal Minerals records $51 million revenue, expands Bougouni lithium plant

Summary

Proactive Investors highlighted recent developments across six UK‑listed small‑cap firms, ranging from biotech approvals to lithium production and crypto‑enabled recruitment.

Poolbeg Pharma announced full MHRA clearance for its topical CRS therapy trial at six UK sites, with interim data due this summer and US payer research indicating multi‑billion‑dollar peak sales. Arecor Therapeutics advanced its ultra‑rapid insulin AT278, claiming clinical superiority and targeting roughly two million pump‑eligible patients, with a Phase 2 study slated for late 2026. hVIVO reported EBITDA beating guidance and closed 2025 with over £14 million cash, projecting single‑digit revenue growth in 2026.

Ilika disclosed integration of its Goliath solid‑state battery into Brompton’s iconic folding e‑bike, planning on‑bike trials in 2027 and eyeing safety‑weight advantages in markets like China. Kodal Minerals posted a record March, shipping 10,900 tonnes of lithium concentrate and generating $51 million in revenue, while its Phase 2 flotation plant promises a mine life beyond 14 years. Connecting Excellence Group became the first UK‑listed recruiter to invoice and settle fees in Bitcoin, building a dual‑flywheel model linking recruitment revenue with a growing crypto treasury.

Collectively, these milestones signal expanding commercial traction for niche biotech therapies, next‑generation battery tech, and resource projects, while also illustrating how alternative financing—such as Bitcoin—can differentiate service firms. Investors may view the pipeline advancements and operational scale‑ups as catalysts for valuation upgrades in the small‑cap segment.

Original Description

Poolbeg Pharma PLC (AIM:POLB, OTC:POLBF, FRA:POLBF) has cleared its final regulatory hurdle, with full MHRA approval secured for its TOPICAL trial across six UK sites. Interim data on its CRS therapy is expected this summer, with US payer research pointing to a big opportunity.

Arecor Therapeutics PLC (AIM:AREC) is advancing its lead insulin candidate AT278, which it says outperforms best-in-class rivals for use in insulin pumps. A Phase 2 trial is targeted for the second half of 2026, backed by a partnership with Sequel Med Tech.

hVIVO PLC (AIM:HVO) beat EBITDA guidance in 2025 and closed the year with over £14 million in cash. The company is guiding for high single-digit revenue growth in 2026, supported by a growing pipeline.

Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A) is integrating its Goliath solid-state battery into Brompton's iconic folding e-bike. On-bike trials are expected in 2027, with safety and weight advantages opening doors in markets including China.

Kodal Minerals PLC (AIM:KOD) had a record March at its Bougouni Lithium Project, shipping over 10,900 tonnes of concentrate. Revenues have topped $51 million since exports began, with a Phase Two flotation plant adding to the project's future potential.

Connecting Excellence Group PLC (AQSE:XCE, OTCQB:XCELF) says it's the first UK-listed recruiter to invoice and settle fees in Bitcoin. The company is building a dual flywheel model, growing both its recruitment revenues and its Bitcoin treasury simultaneously.

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