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Deepmatter (DMTR) Shares Surged 23.4% Today, Here’s Why

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Simon Mugo

Shares of Deepmatter Group PLC (LON: DMTR) today surged 23.4% after the company won five new major contracts over the last two months for its computer-aided synthesis design tool, ICSYNTH.

The company said that its new customers included ‘leading’ multi-national pharmaceutical, agrisciences, biotech and contract research organisations.

Mark Warne, DeepMatter’s CEO said: “With machine learning and cloud technologies both powerful tools in the race to accelerated drug discovery, we see a growing opportunity for both our ICSYNTH and DigitalGlassware platforms and look to the future with confidence,”

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Adding:

“In total, ICSYNTH customer numbers have more than doubled through the course of 2020, and the Company has achieved 100% customer renewals, adding to the group’s underlying revenue base.”

We covered the power of DeepMatter’s DigitalGlassware™ technology to revolutionize the chemical research industry before and it seems like the market agrees.

Deepmatter share price

Tradingview chart of Deepmatter share price 16102020

Deepmatter shares today surged 23.4% to trade at 2.16p having rallied from Thursday’s closing price of 1.75p.

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Simon Mugo
Simon Mugo
Contributor

Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.