Lunchtime ASX small cap wrap: Who’s lighting up the boards today?
The ASX small ords fell 28 points by lunch, down 1 per cent to 2,767.5.
Here were the small cap winners and losers so far today:
After flying yesterday on news it had received a purchase order for its bug-killing products to the tune of $33 million, Zoono (ASX:ZNO) had another ripping morning, up a further 32 per cent to 20.5c at lunch today.
The company revealed after the market closed yesterday that it had been conducting trials of its products in chicken coops, with results showing that pathogen levels nosedived by 87 per cent, leading to an average increase in bird size of 60 grams, despite the chickens eating 10pc less food. They were observed to spend less energy fighting off illness.
Fe Limited (ASX:FEL) led the charts at lunchtime, up 54 per cent to 2c after securing an exclusive option to earn-in to 75 per cent interest in lithium and gold tenements located in the Pilbara region of Western Australia.
Race Oncology (ASX:RAC) was up 40 per cent to 8c after confirming it would conduct a Phase II trial of its drug Bisantrene in patients with relapsed/refractory acute myelogenous leukemia in Israel.
Bisantrene is an old chemotherapy drug that Race is repurposing.
intelliHR (ASX:IHR) bounced 16 per cent to 10c after reporting it has lifted subscriber numbers by 17 per cent since the end of March. And Estrella Resources (ASX:ESR) rose 15 per cent to 1.5c on the back of the rising gold price. Estrella owns the historic small Munda open pit in Western Australia.
There were no major small cap losers on bad news today, though Mayne Pharma (ASX:MYX) has dropped into mid cap territory after reporting weak sales for the four months to April. Shares in the company fell 15 per cent by lunch, pushing the previously 10-figure market cap to less than $900 million.