London, July 6, 2026, 14:01 BST
- CRISM Therapeutics was up 9.52% at 11.50p as of 12:43 BST, with 259,325 shares traded.
- The shares traded 15% higher than the 10p placing price from May and June, but still 23% under the 15p warrant strike.
- CRISM’s most recent RNS, filed July 2, shows Spreadex lowered its stake to 2.905%, down from 3.4733%.
London stocks traded on their regular 0800-1630 BST schedule Monday. CRISM Therapeutics Corporation LON:CRTX climbed to 11.50p as of 12:43 BST, moving back above the 10p mark it used for its recent equity issue and director options. Google Finance put its market cap at £9.11 million on volume of 259,330 shares, in line with average daily trades of 267,760.
The AIM market didn’t move as much. The FTSE AIM All-Share Index (INDEXFTSE:AXX) edged up 0.15% to 777.26 by 14:02 BST, while FTSE 100 and FTSE 250 were both down in the wider London session.
Forget just looking at the daily percentage move. The key level for investors is 10p. CRISM raised £2.5 million in May by placing 25 million shares at 10p, and then added another £245,000 from a retail offer. In June, shareholders backed the issue of the remaining 22.5 million placing shares and 2.45 million retail shares. The total share count is now 79.19 million.
| Price or funding line | Level | Read-through |
|---|---|---|
| Monday closed at | 11.50p | 15% over the May/June issue |
| May/June placing and retail deal price | 10.00p | Fresh money came in here |
| Director options price | 10.00p | Management awards lined up with this price |
| Placing warrant trigger | 15.00p | Shares have to add around 30% from 11.50p to get here |
| Market cap at 11.50p | £9.11 mln | The £2.745 mln equity raise is nearly 30% of this cap |
CRISM handed out 1.01 million options at 10p each on June 30 to Executive Chairman Andrew Webb, Chief Scientific Officer Chris McConville and non-executive director Gerry Beaney. The placing’s warrants can be exercised at 15p, expiring Dec. 16, 2027. If all are exercised, they would raise £3.75 million before costs and push the share count up by 25 million.
The July 2 RNS gave another update. Spreadex’s total stake dropped to 2.905% from 3.4733%, after its CFD/spread bet exposure dropped to 300,374 voting rights, down from about 750,000 voting rights before. The direct holding was flat at 2 million shares, or 2.5257%.
| Holder metric | Previous | Latest | Change |
|---|---|---|---|
| Spreadex now at 2.9050% total voting rights, down from 3.4733% | 3.4733% | 2.9050% | -0.5683 pct point |
| Share of voting rights held through financial instruments dropped from 0.9476% to 0.3793% | 0.9476% | 0.3793% | -0.5683 pct point |
| Spreadex direct voting rights flat at 2.5257% | 2.5257% | 2.5257% | No change |
| Total voting rights now reported at 2,300,374, previously n/a | n/a | 2,300,374 | Below 3% threshold |
CRISM’s main focus remains its glioblastoma trial. On June 25, the company said it had finished work on manufacturing, quality, regulatory steps and study set-up needed ahead of treating patients. Site activation is in late stages, with a site initiation visit set for late July. CRISM also said it has funding in place to finish Part 1 of the trial.
Webb said in the final results that CRISM is “well funded.” He added the site initiation visit in late July was the last step before patient recruitment starts. The company ended Dec. 31, 2025 with £1.13 million in cash, reported a £1.90 million loss for 2025, and spent £908,000 on R&D. Investegate
CRISM’s balance sheet looks different from year-end. The company finished its £2.745 million equity raise in May and June. It also landed two non-dilutive grants: £896,088 from Innovate UK for Part 1 of its irinotecan-ChemoSeed Phase 2 trial and £99,902 from Invest Northern Ireland for its docetaxel-ChemoSeed prostate cancer program. That’s about £996,000 in grants, topping CRISM’s 2025 R&D spend and making up about 36% of the new equity raise.
McConville called the Invest Northern Ireland grant “invaluable” for moving manufacturing, preclinical and regulatory projects forward. After the general meeting, Webb told shareholders the fundraise and grant together left CRISM in a “strong financial position”. Investegate
Investors are watching for dilution and execution risk here. The stock has found a floor around the 10p placing price, and 15p is the next focus with the warrant strike. By 14:01 BST Monday, CRISM hadn’t put out a new RNS since Spreadex disclosed its holding on July 2. The next company milestone is a site initiation visit expected in late July.
