Last Orders: What you might have missed on the ASX today
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It hasn’t a great day for small caps, with the Small Ordinaries index falling while blue chips rose as the US election and a Reserve Bank of Australia meeting loom.
The index of Australia’s 201st to 300th biggest companies closed Monday down 14.9 points, or 0.54 per cent, to 2,721.5. The ASX200 gained 0.4 per cent, or 23.7 points, to 5,951.3.
Pharmaxis (ASX:PXS) soared as much as 70 per cent in early trade after US regulators approved its inhaler spray to treat cystic fibrosis, but its shares faded later in the day to close just 25 per cent higher at 11c.
In the US, President Donald Trump held rallies across five states in a final sprint before Tuesday’s face-off with Democrat Joe Biden.
Results from election will likely start to pour in Wednesday morning, Australia time, while the RBA will announce its decision on a rate cut tomorrow at 2.30pm. The market is expecting the central bank to cut rates by 15 basis points, to 0.1 per cent.
Here’s some more news you might have missed today:
– Telix Pharmaceuticals (ASX:TLX) gained 29 per cent to $2.16 after the Melbourne company licensed its radioactive imaging product portfolio for the greater China market to China Grand Pharmaceuticals and Healthcare Holdings. Telix will receive $35 million up-front under the deal, as well as up to $320 million in regulatory and milestone payments, and CGP will also pay $35 million for a 7.62 per cent stake in Telix.
– MedAdvisor Limited (ASX:MDR) shares were in a trading halt after announcing an acquisition and related capital raise. MedAdvisor is paying $49 million to buy Adheris, LLC from Syneos Health (NASDAQ:SYNH). Adheris has a platform that encourages Americans to take their medicines as prescribed.
– Novatti Group (ASX:NOV) shares fell 8.8 per cent to 26c after the payments company announced its Visa Prepaid cars were now supported by Google Pay on Android mobile devices, with Samsung Pay due to follow later in the week. Novatti offers both physical, virtual and tokenised Visa Prepaid cards, after being awarded a Principal Issuer Licence by Visa last year.
– PolyNovo (ASX:PNV) fell 4.6 per cent to $2.48 despite entering the Greek market by appointing Biogenesys as its distributor for its NovoSorb BTM burn and wound-healing polymer. Greece has a population of about 10.7 million people and a well-developed health system, PolyNovo said.
– Actinogen Medical (ASX:ACW) gained 4.8 per cent to 2.2c after announcing it would begin a phase 2 clinical trial of its drug candidate XanaFX in adolescent boys with Fragile X syndrome, a genetic disorder characterised by a range of developmental problems. Actinogen said the trial would commence at Murdoch Children’s Research Institute in Melbourne in the first half of next year.
– Red Mountain Mining (ASX:RMX) announced it had been granted an application for its Koonenberry property 160km northeast of Broken Hill in New South Wales. This is the final application on the suite of tenements surrounding Manhattan Corporate’s (ASX:MHC) recent high-grade gold discovery.
Healthia (ASX:HLA) – acquisition and capital raising
Chase Mining (ASX:CML) – strategic investment
Telix Pharmaceuticals (ASX:TLX) – strategic investment
Triangle Energy (ASX:TEG) – impact of BP ceasing fuel production at Kwinana
Isentia (ASX:ISD) – cyber security incident update
iCollege (ASX:ICT) – capital raising
Pearl Global (ASX:PG1) – capital raising
Stavely Minerals (ASX:SVY) – exploration results
Marmota (ASX:MEU) – drilling results
Rumble Resources (ASX:RTR) – exploration results
Australian Potash (ASX:APC) – capital raising
SportsHero (ASX:SHO) – capital raising
Australian Pacific Coal (ASX:APQ) – modification 7 application update