Shares of Open Orphan PLC (LON: ORPH) today extended yesterday’s decline despite announcing that its Venn Life Sciences division had secured a major contract renewal.
The rare and orphan drug consulting company yesterday reported that one of the top three global pharmaceutical companies had renewed its contract with the Venn Life Sciences division for the entire year.
The news triggered a brief rally in Open Orphan’s share price, which was soon followed by a pullback that saw the stock lose all its original gains and end the day lower.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Open Orphan’s team based in Breda, Netherlands, will fulfil the contract by providing chemistry, manufacturing and control consultancy (CMC) services to one of the client’s vaccine development programmes.
Chairman Cathal Friel said: “We are delighted to enter 2021 with another contract signed by the Venn team in Breda with this top-three global pharmaceutical client.”
Adding:
“Venn have been providing CMC support to this top tier company since 2012 and are pleased to be continuing to work with this client in their vaccine development programme.”
This is the second contract extension won by the Venn Life Sciences division given that the company made a similar announcement in late December.
Open Orphan share price
Today’s open Orphan shares fell 2.98% to trade at 26.0p having fallen from yesterday’s closing price of 26.8p.
