Lunchtime ASX small cap wrap: who’s hitting sixes today

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Here are the key ASX small cap winners and losers at lunch Tuesday October 2:

The ASX Small Ords was down 10.3 points or 0.36 per cent to 2,847.5 at 12.40pm AEST.

GOING UP

Canadian explorer Euro Manganese (ASX:EMN) has kicked off its first day as a publicly listed company, trading at a 23 per cent premium to its initial public offering price.

Euro Manganese lit up the boards at 11am AEST this morning under the ticker “EMN”.

It traded as high as 32c in the first hour of trade. About 333,000 shares changed hands in nine trades worth $96,162 just before midday.

The hot run is continuing for HIV-fighter Biotron (ASX:BIO).

The stock was up another 45 per cent today to an intraday high of 9c this morning, with $5.8 million worth of shares changing hands.

Yesterday the company rose 22pc to 5c after trial results released on Friday showed the company’s BIT225 drug had “significant immunological benefits” in patients with HIV.

Shares in Spectrum Metals (ASX:SPX) rose 20 per cent to an intraday high of 0.6c before the company went into a trading halt this morning.

Neither the pause in trading nor trading halt announcement gave clues as to what sort of announcement the company will release — but more than 5 million shares changed hands. The company says it will release the announcement prior to Thursday.

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Jadar Lithium (ASX:JDR) was up 28 per cent to an intraday high of 1.4c after telling investors it will acquire exploration ground surrounding the advanced Wolfsberg project in Austria, owned by fellow battery metals hopeful European Lithium.

European Lithium (ASX:EUR) announced a resource of 11 million tonnes grading 1% lithium for the underground Wolfsberg project in July last year.

The under-explored exploration ground was “strategically placed for European manufacturers using lithium”, according to Jadar.

Here are the best performing ASX small cap stocks at 12.30pm AEST Tuesday October 2: 

Swipe or scroll to reveal full table. Click headings to sort

GOING DOWN

There was unfortunate news for Bionomics (ASX:BNO) this morning, with news its Post Traumatic Stress Disorder drug trial had failed.

That sent the stock tumbling 68 per cent to an intraday low of 16c, thought it rallied slightly before lunch as the company tried to put investor concern at ease during an 11am teleconference.

The phase two trial assessed PTSD symptoms in 193 patients across 25 sites in the US and Australia after they’d been treated with BNC210, a new drug that inhibited a neural receptor implicated in long term memory.

“We are extremely disappointed that the primary endpoint in this trial was not met,” said Bionomics chief Dr Deborah Rathjen.

Here are the worst performing ASX small cap stocks at 12.30pm Tuesday October 2: 

Swipe or scroll to reveal full table. Click headings to sort

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