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

Practice Stock Trading
Updated: 16 October 2020

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,”

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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