Quarterlies Top 5: These companies impressed ASX investors the most
Today is last day for companies to submit their quarterly cash flow and activity reports and Stockhead has recapped the top performers in the morning trade.
If they fail to lodge, they risk suspension and consequential panic and anger from shareholders – although some may not appear until Monday morning even if lodged by the deadline.
Today’s winners included 2 biotechs, a NSW coal company, a Pilbara coal play and a tech recruitment stock.
The $7m penny stock, which is a tech recruitment specialist, led today’s winners as at 11.30am (AEST).
This was despite it only recording a modest 5% increase to its gross profit and a 6% decrease to its revenues.
However, there were some divisions that recorded impressive growth numbers, for instance its NSW business achieved a profit 2,279% greater than the comparative quarter in FY20 and its On Demand IT services business of 793%.
The company said the recent lockdowns in NSW may impact the quarter in delaying customer onsite work and projects but expressed optimism that FY22 would be strong.
For resources stocks, quarterlies typically disclose little new information but still outline just what shareholders have to look forward to in the months ahead.
Caeneus just completed heritage clearance at its Roberts Hill project and is about to commence drilling.
The company also updated shareholders on its other Pilbara projects, saying it is anticipating being granted a Mt Berhaus tenement “in due course” and has begun a soil sampling program at its Pardoo project.
It has $1.638 million in cash left which it anticipates should be enough for just over 4 quarters.
This company owns the Dartbrook coal mine in NSW which has been non-operational since 2006.
A final legal showdown is immanent between AQC and local horse breeders and planning authorities.
AQC wants a five year extension enabling operations to continue until 2027, and current proceedings to be disposed of by the Land and Environmental Court.
AQC’s quarterly was released on the day it is holding a shareholders meeting to vote on a deal whereby it would sell some of its properties and water rights to repay debt.
It has just $520,000 in cash reserves, less than half a quarter’s worth of cash left by the company’s estimation.
Optiscan is medical imaging tech company targeting oral cancer and aspiring for FDA approval.
During the quarter it continued to prepare its application for FDA clearance and reached 58 imaging sets completed as part of a study with the University of Melbourne’s Dental School.
Optiscan has $8.44 million in cash, enough to last over eight quarters it said.
This biotech’s gain today was a far cry from the 871% gain it made 12 months ago following guidance US FDA about the development pathway for its anti-Multiple System Atrophy (MSA) drug but it still made the top 5.
ATH closed the quarter with $28 million in cash and cited as its key achievement guidance from the European Medicines Agency (EMA) about a planned Phase 2 clinical trial of its ATH434 drug against multiple system atrophy.
CEO David Stamler said the EMA’s support gave him great confidence that his company was taking the right approach to finding a new treatment for MSA.