Last Orders: What you might have missed on the ASX today
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Small caps have gained for a second straight day, outpacing their larger peers, which trod water.
The Small Ordinaries finished Wednesday up 0.32 per cent to a fresh eight and a half month high of 3,063.3, while the ASX200 was up just fractionally, gaining 0.03 per cent to 6,590.2
The Emerging Companies index dipped 0.07 per cent to 1,890.4.
One of the biggest gainers was Cycliq Group (ASX:CYQ), which rose 50 per cent to 0.3c after the Perth-based cycling light and camera system manufacturer announced Cyber Weekend sales were up 44 per cent year-on-year.
Elsewhere on the ASX:
– Oncosil Medical (ASX:OSL) dropped 10.6 per cent to 14.75c after the medical device company abruptly announced the termination of Daniel Kenny as chief executive officer, effective today. The company said that while it had made progress on its targeted radioactive isotope for pancreatic tumours, sales were unlikely to occur by the end of the year, as previously forecast.
– Telix Pharmaceuticals (ASX:TLX) gained 10 per cent to $4.09 after the nuclear medicine company announced it had been granted ethics committee approval to begin a first-in-human phase 1 study of its next-generation prostate cancer therapy product TLX592.
Telix also noted that the US Food and Drug Administration had approved PET scanning for prostate cancer at two California universities using a radioactive tracing agent known as 68Ga-PSMA-11. “This is a highly anticipated event within the US nuclear medicine industry and paves the way for the FDA to approve commercially available products, enabling the broader availability of this important technology to American men with prostate cancer,” Telix said.
– Zelira Therapeutics (ASX:ZLD) advanced 9.9 per cent to 8.9c after the cannabis company announced it had launched its proprietary CBD toothpaste in the United States in partnership with SprinJene. The dental care product uses CBD distilled from hemp, with no psychoactive effects, and will be available in the USA through SprinJene’s existing partners including Bed, Bath & Beyond.
– Rhythm Biosciences (ASX:RHY) surged 18.9 per cent to 72.5c after the cancer detection company announced it had appointed France-based Biotem Limited as the global manufacturer of its ColoSTAT colorectal cancer test. The company is trying to replace faecal tests with a simple, rapid blood test.
– Amplia Therapeutics (ASX:ATX) gained 2.2 per cent after the Melbourne biotech company announced it had received a research and development tax refund of $533,521 for toxicology studies of its clinical-stage FAK inhibitor, AMP945.
– MGC Pharmaceuticals (ASX: MXC) announced an update on the sale of its subsidiary company, MGC Nutraceuticals to Onassis Holdings Corp. As part of the agreement, MXC will receive shares equating to the value of $6 million in Onassis Holdings Corp. and it will have an exclusive supply agreement. Completion of the transaction with Onassis is expected within five months.
Roby Zomer, co-founder and managing director of MGC Pharma, said: “The sale of MGC Nutraceuticals is a milestone transaction for the division and will allow it to achieve its full operational and commercial potential. The Onassis team are highly experienced in wellness products and will be able to develop, grow and distribute the products to a broad range of customers across the US.”
At Stockhead we tell it like it is. While MGC Pharmaceuticals is a Stockhead advertiser, they did not sponsor this article.