Lunchtime ASX small cap wrap: Who’s taking it on the chin today?

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Meet the latest anti-snoring device that literally requires patients to ‘take it on the chin’.

Belgian medtech Nyxoah has been working on an anti-snoring device that has been approved for use in Europe and now the UK.

But unlike pillows, or even chin-straps this device has to be implanted in a 15 minute procedure. And every night you have to place a sticky patch on your chin to activate the device.

Hope for millions as experts develop snoring ‘cure’ – but it needs to be implanted in your chin 😳 https://t.co/eXccHrHaj4

— The Sun (@TheSun) August 27, 2019

But its technique, which involves activating nerves and muscles to stop the tongue and airway collapsing during sleep has worked in clinical trials thus far hence its regulatory approval.

While it remains a private company, the ASX’s own large cap health stock Cochlear (ASX:COH) is an investor in it. Cochlear, which was $2.90 at its 1995 IPO but is over $200 now, invested $21m in its last funding round.

Our markets remain well short of Cochlear’s rise but nonetheless have moved up today. The ASX Small Ords has gained 0.67 per cent to 2,813 points, while the ASX 200 is up 0.19 per cent to 6,483 points. This has come despite ABS construction work done falling 3.8 per cent.

Going up

Westfield spin-off tech platform OneMarket (ASX:OMN) climbed 19 per cent before being halted at 11.30am. There is speculation it will be broken up.

Opthea (ASX:OPT) had nothing new to announce today but investors have continued to buy into the optometry play since its breakthrough three weeks ago. It gained another 21 per cent today.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday August 28:

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

Going down

Many of today’s losers continued a downward trend from yesterday, including AJ Lucas (ASX:AJL) and SpeedCast (ASX:SDA).

The biggest declining stock today is RPM Automotive Group (ASX:RPM), which fell 46 per cent from its last closing price. This stock is a backdoor listing from the ashes of Kairiki Energy, which was suspended in May 2016.

While the company has raised capital to re-enter the market, some long-suffering shareholders took the chance to exit.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday August 28:

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

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