Eden Research (EDEN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

3.90p
   
  • Change Today:
      0.100p
  • 52 Week High: 6.25
  • 52 Week Low: 3.50
  • Currency: UK Pounds
  • Shares Issued: 533.35m
  • Volume: 1,494,153
  • Market Cap: £20.80m

Eden Research gets label extension for biofungicide in Portugal

By Josh White

Date: Thursday 26 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Biopesticide developer Eden Research announced on Thursday that its biofungicide 'Mevalone' has received authorisation for use on new crops in Portugal, where it is marketed as 'Araw'. for the control of the Botrytis cinerea destructive fungal pathogen, which affects a number of plant species.
The AIM-traded firm said the latest label extension added strawberries, raspberries, blueberries, cranberries, kiwifruit, aubergines and peppers to the label, with product applications being permitted close to the point of harvest.

It said the use of Araw afforded growers "maximum flexibility" in their crop protection programmes, as it is free from residues and provides growers the benefit of avoiding product rejections by wholesalers and food retailers that could result from higher-than-allowed pesticide residue levels.

Eden said its biofungicide product known as Mevalone in much of Europe was sold exclusively in Spain and Portugal by its commercial partner Sipcam under the brand name Araw.

Based on "natural active ingredients", it said Araw was a "useful tool" in crop defence programmes, and was aligned with the "demanding requirements" of integrated pest management programmes.

The board said the Atlantic Ocean heavily influences the climate in Portugal, making large areas "mild and moist" for much of the year, which was beneficial for crops but also favoured the development of fungal pathogens.

As a result, the broader availability of a biofungicide such as Araw would provide an "innovative and valuable" product for growers.

"Sipcam has extensive experience with Araw and has recently supported significant label extensions in Spain," the Eden Research board said in its statement.

"This approval in Portugal will enable Sipcam to expand the market for Araw across thousands of hectares of new high value crops.

"Portugal is in the top ten kiwifruit producers in the world, and over 14,000 tonnes of strawberries are exported from Portugal on an annual basis."

At 1156 BST, shares in Eden Research were down 0.57% at 8.7p.

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Eden Research Market Data

Currency UK Pounds
Share Price 3.90p
Change Today 0.100p
% Change 2.63 %
52 Week High 6.25
52 Week Low 3.50
Volume 1,494,153
Shares Issued 533.35m
Market Cap £20.80m

Eden Research Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
14.4% below the market average14.4% below the market average14.4% below the market average14.4% below the market average14.4% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Price Trend
47.83% below the market average47.83% below the market average47.83% below the market average47.83% below the market average47.83% below the market average
6.12% above the sector average6.12% above the sector average6.12% above the sector average6.12% above the sector average6.12% above the sector average
Income Not Available
Growth
53.19% above the market average53.19% above the market average53.19% above the market average53.19% above the market average53.19% above the market average
52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average52.94% above the sector average

Eden Research Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
15:54 137,044 @ 3.89p
15:54 146,222 @ 3.89p
15:39 240,000 @ 3.90p
13:26 130,000 @ 3.90p
13:26 150,000 @ 3.85p

Eden Research Key Personnel

CFO Alexander John Abrey
CEO Sean M. Smith

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