Alternative Investment Market liquidity is improving both in terms of average daily trades and average daily value of trades. This is despite the reducing number of companies on the junior market with many larger companies moving to the Main Market.
The average daily value of trades in the first half of this year is £231.1m. The average daily number of trades so far this year is 58,632.
In terms of average daily trades, each month of this year is well above the number in the corresponding month in 2025. There was a dip in number in June, but it was still comfortably higher than in June 2025.
Australia-focused gold miner and explorer Greatland Resources is the largest company on AIM and it is also the most actively traded, taking over from airline and tour operator Jet2.
TheraCryf cash call for Orexin-1
Biotech company TheraCryf is raising £1.05m at 0.18p/share. This will help to finance the clinical programme for the Orexin-1 antagonist addiction asset. There are plans to seek partnerships for the company's neuropsychiatry assets.
TheraCryf wants to complete the Orexin-1 programme and then secure a partner or out-licence deal. This would provide funds for further financial trials. There is already interest from potential partners. There is an accelerated pathway to gain approvals for phase 1 clinical trials. Cash should last until the first quarter of 2027.
If the latest patent is approved there will be commercial protection up to 2046.
AB Dynamics buys US testing firm
AB Dynamics has acquired US-based eMpulse Test Systems LLC for £8.1m ($11m) in cash. This will expand the automotive testing division.
eMpulse Test Systems supplies advanced servoelectric test systems used by the automotive sector for noise, vibration and harshness, structural and durability testing. This fits with AB Dynamics' existing servoelectric testing operations and there are cross-selling opportunities.
There could be contingent consideration of up to $15m subject to performance over a three year period. In 2025, eMpulse revenues were $5.5m, although the three year average was $8.4m. The acquisition should be earnings enhancing in 2026-27.
