Lunchtime ASX small cap wrap: biotech Bard1 bowls them over
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Here are Tuesday’s ASX small cap winners and losers at 12pm AEDT.
The ASX Small Ordinaries index was up 1 per cent at 2712.
In the green
Ovarian cancer tester Bard1 (ASX:BD1) was by far the biggest small cap winner this morning, more than doubling its share price after announcing positive test results.
The stock was trading up 150 per cent at 2.5c by 1pm AEDT.
Bard1 told investors independent testing confirmed high accuracy for detection of ovarian cancer with 89 per cent sensitivity (the number of patients correctly identified as having cancer) and 82 per cent specificity (the number of people correctly identified as not having cancer).
The results follow previously announced study results from January — confirming the test’s robustness and potential utility as a diagnostic aide for early detection of ovarian cancer, the company says.
Junior nickel and copper play Boadicea Resources (ASX:BOA) surged 38 per cent to 18c on the start of a follow-up electromagnetic survey.
Earlier this year Boadicea reported four significant anomalies at the Bell Ringer project targeting nickel and copper in Western Australia.
Now, the survey will refine the anomalies ahead of priority drill testing. First results are expected in three to four weeks.
Mobile communications tech Norwood (ASX:NOR) updated the market on its commercial pipeline earlier today, sending its share price up 30 per cent to 1.7c. The stock cooled sightly to 1.6c by 1pm AEDT.
The company highlighted its partnership with US tech giant Oracle, saying it “made the cut” and has been selected for “onboarding” to target the US financial services sector.
Its mobile voice, messaging, data and cyber security services are offered through its Corona platform and apps. Its World Message 2.0 product was launched today.
Troubled law firm Slater & Gordon (ASX:SGH) recovered further trading up 24 per cent to $4.90.
Today’s trading price was at a 63 per cent premium to its open price at the start of the week — with no news in the market.
Oncology biotech Kazia Therapeutics (ASX:KZA) was trading up 19 per cent at 74c off the back of similar increases on its dual listing on the NASXDAQ.
Kazia told the ASX it had no idea what was driving trading volumes at five times daily average and some 10 times the average on the NASDAQ.
“On advice from ASX, Kazia wishes to confirm that the company is not aware of any material non-public information which may have inadvertently become public and accordingly we are in compliance with our continuous disclosure requirements under Listing Rule 3.1,” it said.
In the red
Corporate finance and advisory firm IQ3 Corp (ASX:IQ3) took a 18 per cent hit to trade at 20c at 1pm AEDT.
The company had no fresh news in the market. Last week it reported a 32 per cent increase in revenues for the half, at $3.4 million and a $73,000 profit.
Lab tech LBT Innovations (ASX:LBT) announced a $7 million oversubscribed private placement this morning, but the shares took a 17 per cent tumble to trade at 16.5c.
It said the raise would be used to fund its AI automation of laboratory process, until it was cashflow breakeven in early 2020.
Shares continued to trade above its 15c issue price.
GWR Group (ASX:GWR) continue to cool after that big five-bagger rise last week. It’s due to announce a mineral tungsten resource.
The stock was today trading down 16 per cent to 20c with no news in the market. The shares were trading at 22c by 1pm AEDT.
Junior gold play Sihayo Gold (ASX:SIH) dropped 11 per cent to 1.6c with nothing new in the market.
The latest update from the company was last month when it told shareholders it was finalising a feasibility study for its Northern Sumatra prospect.
The same went for Nex Metals Exploration (ASX:NME) — the stock dropped 14 per cent to trade at 2.4c with no news.
Its December quarterly told shareholders drill results were expected in January but to date nothing further has been announced.