- The Nanosynth share price soared 88.9% on the Voltz partnership update.
- The company has made significant progress on its turnaround plan.
- So, should you buy Nanosynth shares? Read on to find out.
The Nanosynth Group PLC (LON: NNN) share price soared 88.9% after revealing that it had made significant progress in its partnership with Voltz, announced on 1 June 2022. The two companies have run multiple trials to help develop a standard retrofit to media production lines to streamline installation and execution.
Also read: The Best Undervalued Stocks To Watch In 2022.
Investors cheered the news that Nanosynth’s turnaround plan in its tenth month was progressing well since Mark Duffin took over as CEO in September 2021. The company board said it was confident to apply for REACH UK registration (UK Registration, Evaluation, Authorisation and restriction of Chemicals) with the Health & Safety Executive (HSE).
The REACH registration will allow the firm to produce up to 60 tonnes of copper (ii) oxide nano-material per year. In addition, the company is set to conduct its fifth trial production run to generate the final environmental fate report, which it will use to advance the REACH registration.
Nanosynth also revealed that the research and development (R&D) plans regarding the seven business verticals unveiled on 1 June 2022 were progressing well. The firm said that it had split the needed patents into 11 groups and was applying for them.
The nano-particles specialist firm noted that it was undertaking the initial work schedules, which would allow it to sign long-term commercial contracts with relevant partners once completed. However, the company intends to pursue R&D partnerships funded by the partners before proceeding to exclusive commercial agreements based on minimum volume requirements.
Nanosynth has also transformed its P2F business from an R&D-focused division into a commercial company. The firm has converted a 1-disk nano-producing reactor into a 4-disk reactor with the same quality and consistency. The firm is currently building two full-scale reactors containing 20 disks.
So, should you buy Nanosynth shares? It is never a good idea to buy shares after they have soared higher. I would wait for the inevitable pullback before buying.
*This is not investment advice. Always do your due diligence before making investment decisions.
Nanosynth share price.
The Nanosynth share price soared 88.88% to trade at 0.4245p, rising from Friday’s closing price of 0.2250.