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.
Shares of Open Orphan plc (LON: ORPH) are gaining on Wednesday after the company announced that hVIVO, part of Open Orphan, has opened a new quarantine clinic in East London.
The new site is based in Whitechapel, opposite the Queen Mary BioEnterprise Innovation Centre which houses hVIVO’s 24 bedroom FluCamp site. The Whitechapel clinic will act as an extension of the Queen Mary site.
The clinic has the capacity for up to 19 quarantine rooms and will be used as an additional unit for Human challenge trials and volunteer recruitment screening.
“Our QMB clinic is now close to full capacity until December 2021, and as such, the newly renovated, state of the art Whitechapel Clinic will allow us to increase our study capacity substantially in the year ahead,” stated Cathal Friel, Open Orphan’s executive chairman.
“We have leased the entire former Whitechapel Hotel and managed to convert the space on a very cost-efficient basis which is now almost fully booked to capacity for H1 2021,” added Friel.
While there were no financial details given regarding the lease of the Whitechapel site, the move will help Open Orphan and hVIVO increase its capacity to facilitate upcoming studies.
Open Orphan's stock price opened up the day over 5% higher trading at 26p following Tuesday's close at 24.8p per share.
Should you invest in Open Orphan shares? Open Orphan shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market 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
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