ASX Small Cap Lunch Wrap: Who’s got a new take on an old favourite today?
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Remember when Mike Tyson bit a chunk out of Evander Holyfield’s ear?
Well now the boxing legend’s cannabis company is selling pot edibles shaped like ears with bites taken out of them.
Holy ears! They’re finally here! Go get your Mike Bites now 👂😤 pic.twitter.com/BCbXcdYcra
— ItsTyson20 (@itstyson20) March 15, 2022
The cannabis company – Tyson 2.0 – sells its products in around 100 retailers in California and the boss man himself has personally tested and approved each product.
Since he actually knows what an ear tastes like – so here’s hoping the gummie ear isn’t authentically flavoured.
The ASX 200 is up 85.20 points or 1.19% at midday today to 7,260.40.
European markets rose yesterday on hopes of an easing in Ukraine-Russia tensions and hints about potential economic stimulus in China.
Supportive comments from top Chinese economic policy makers boosted shares, with Chinese officials saying they would “coordinate pandemic prevention and control and economic development, keep the economy operating within a reasonable range and keep the capital market running smoothly,” state-owned Xinhua reported.
This helped soothe some fears over an economic slowdown in China that would also sap growth globally.
US stocks ended up ripping higher in a volatile session overnight, and bond yields jumped after the Federal Reserve officially said it would raise interest rates for the first time since 2018.
The Fed raised interest rates by a quarter-percentage-point as officials look to keep the economy from overheating and reduce inflation.
New projections show that most officials expect the fed-funds rate to rise to at least 1.875% by the end of the year and to around 2.75% by the end of 2023. That implies a total of seven-quarter-percentage-point increases this year and more next year.
“It seems very much like they wanted to send a message that they’re fighting inflation and they’re going to fight it fast and get it under control,” said Kathy Jones, chief fixed income strategist at the Schwab Centre for Financial Research.
In Australia, the AUD/USD has inched above 0.7300 following the very strong February jobs report which flagged a record high for the number of people employed, with an unemployment rate of 4%.
Here are the best performing ASX small cap stocks for March 17 [intraday]:
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Imagion Biosystems (ASX:IBX) is developing a new non-radioactive and safe diagnostic imaging technology and has evaluated the first five patients in its study for the MagSense® HER2 breast cancer imaging agent.
“We can say that there have been no safety issues reported related to the MagSense® HER2 imaging agent and that all patients have tolerated the administration and dosage of the injectable,” Monash Health principal investigator Dr Jane Fox said.
“We have observed that the imaging agent, as administered, is capable of reaching the lymph nodes.”
The company considers the results from these patients sufficient justification to continue the study and plans to scale-up activities to support further development and clinical studies that would support regulatory submissions.
And also on the pharmaceutical front, Biotron (ASX:BIT) says its clinical asset, BIT225, has demonstrated “substantial and clinically meaningful efficacy” against SARS-CoV-2 in a series of animal studies on mice performed at The SCRIPPS Research Institute in the USA.
The company has now submitted a proposal to the USA Food and Drug Administration (FDA) to conduct a human clinical trial to assess the efficacy of BIT225 for the treatment of COVID-19 under the Coronavirus Treatment Acceleration Program – a special emergency program for potential coronavirus therapies.