Here are the key ASX small cap gainers and decliners at 12pm AEDT.

The ASX small ords was trading down 45.6 points at 2,699.70 at 12pm AEDT.

GOING UP

Innate Immunotherapeutics (ASX:IIL) surged 116 per cent this morning to 6.7c after moving into cancer treatment.

Their shares reached as high as 7.7c this morning before falling back slightly.

This followed the collapse of Innate’s Multiple Sclerosis drug in Phase 2b trials last year. They are buying Amplia Therapeutics in an all-scrip deal that will leave them with $2 million to spend on their new gambit.

Blina Minerals (ASX:BDI) gained 100 per cent this morning to 0.2c after a not very large investment into the company.

Blina Minerals is up on no news after a $2000 trade for 1 million shares sent the stock surging to a mighty 0.2c.

No doubt they will be receiving a speeding ticket in the mail very soon.

Arc Mines (ASX:AHK) put on 29 per cent this morning to trade at 9c for the same reason – a small investment in a lightly traded stock.

A single investor spent $3595 on 39,953 shares which sent the lightly traded stock through the roof.

Shareroot (ASX:SRO) put on 25 per cent this morning to trade at 0.5c after telling the market that it had renewed four contracts.

Shareroot said two of its oldest clients, University of California, Los Angeles (UCLA), and Costco signed back on, as did vinyl wall graphics manufacturer Fathead and a client of travel marketing agency Verb.

The subscription renewals were for 12 months, but Costco signed back on for another three years.

Zyber Holdings (ASX:ZYB) jumped 21 per cent this morning to 2.3c for no real reason.

The shell company is a favourite for speculators. The last announcements were that it was listing on the Frankfurt Exchange, but yet another deal had fallen through.

GOING DOWN

Asia Pacific Digital (ASX:DIG) fell 33 per cent this morning to 6c for very little reason.

The company said on Friday it had paid a consultant $27,000 in shares.

Classic Minerals (ASX:OEX)  lost 20 per cent this morning to trade at 0.4c in spite of news that its joint venture partner Hannans in the Forrestania Gold Project has confirmed some high grade gold strikes.

Drilling confirmed gold structures within the Lady Magdalene deposit, similar to what occurs at the Lady Ada deposit located 700 metres south. It said several mineralisation controls were identified that upgrade the depth and strike potential of the 2km-long ‘gold camp’.