Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Pharmaceutical firm Open Orphan's (LON: ORPH) share price is gaining on Wednesday after the company revealed its office on Breda, Netherlands, had won a new contract.
The contract is worth €900,000 and is for clinical trial management with an existing customer.
Cathal Friel, Executive Chairman of Open Orphan, said: “This new contract win demonstrates the ongoing and continued success of our Breda office which continues to sign multiple contracts and only those close to £1 million and above are announced.
“Our Breda office is getting more and more integrated with our London business, and the entire Open Orphan group is excelling as the global leader in the testing of vaccines, anti-virals and other infectious disease therapeutics.”
Open Orphan also announced it has completed the acquisition of CHIMagents Limited. CHIMagents assists companies in the design, manufacture and testing of challenge agents for use in challenge studies.
Open Orphan's share price is currently trading at 26.5p, up 4.95%.
Open Orphan shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Open Orphan shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .