Top 10 at 11: Which biotech just received ethics approval for a Phase 3 trial?

Stockhead’s Top 10 at 11, published each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.

It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.

The S&P/ASX200 is up today, gaining 10.60 points or 0.14% to 7,744.10 at 10.30am (AEDT).

WINNERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Code	Description	Last	%	Volume	MktCap
CNJ	Conico Ltd	0.003	50%	517,500	$3,140,190
M4M	Macro Metals Limited	0.006	50%	22,335,306	$11,248,311
ADG	Adelong Gold Limited	0.004	33%	1,372,904	$2,153,967
AVE	Avecho Biotech Ltd	0.004	33%	3,414,634	$9,507,891
LSR	Lodestar Minerals	0.002	33%	5,000,000	$3,035,096
HVY	Heavy Minerals	0.105	30%	160,273	$4,667,509
ICE	Icetana Limited	0.035	25%	143,882	$7,409,596
EDE	Eden Inv Ltd	0.0025	25%	232,732	$7,356,542
CVR	Cavalier Resources	0.115	21%	27,776	$3,023,747
VAL	Valor Resources Ltd	0.003	20%	166,666	$11,472,533

Avecho (ASX:AVE) has announced that Phase 3 clinical trial testing of its oral CBD TPM-enhanced soft-gel capsule for insomnia has gained final ethics approval.

AVE says patient recruitment for the pivotal trial is on track to start this month for clinical trial sites in Melbourne, Sydney, Central Coast, Brisbane, and Perth.

Heavy Minerals (ASX:HVY) has inked a non-binding Memorandum of Understanding (MOU) for the future sales of a minimum of 15,000 tpa of garnet to be produced at its Port Gregory Project in Western Australia for an initial three-year period with ABSS.

HVY says the offtake will account for ~10% of the company’s annual future Garnet production at its Port Gregory Project and will be sold into the Australian and New Zealand sand blasting and water jet cutting markets by ABSS.

LOSERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Code	Company	Price	%	Volume	Market Cap
AXP	AXP Energy Ltd	0.001	-50%	3,789,544	$11,649,361
VPR	Volt Power Group	0.001	-50%	343,790	$21,432,416
SIH	Sihayo Gold Limited	0.001	-33%	3,334	$18,306,384
1MC	Morella Corporation	0.003	-25%	416,129	$24,715,198
RIE	Riedel Resources Ltd	0.003	-25%	31,731	$8,895,343
EPX	EPT Global Limited	0.02	-20%	4,500	$14,693,606
AUK	Aumake Limited	0.003	-14%	15,224	$6,700,424
POS	Poseidon Nick Ltd	0.007	-13%	285,244	$29,708,278
KNI	Kuniko Ltd	0.21	-11%	11,000	$20,314,403
CZN	Corazon Ltd	0.009	-10%	10,750	$6,155,979