Weekly ASX small cap wrap: Who’s taking over the skies?
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Forget about EVs with wheels, we may as well go straight to flying cars.
In what would be the world’s first racing series for manned flying electric cars, Airspeeder will be unveiling its EXA-series flying vehicle later this year.
— Airspeeder (@AirspeederHQ) June 17, 2021
Back on soil, the ASX wasn’t exactly flying this week.
The index finished the week just 1 per cent higher, led by the Tech sector which rose by 6 per cent.
The share prices of both companies have more than doubled over the week after some positive announcements.
Media monitoring firm Insentia received a bid from London-listed PR software stock Access Intelligence that is at a 157 per cent premium to its last closing price on Tuesday.
Access Intelligence has not only successfully wooed the board, it’s also got substantial holder Spheria Asset Management on-board to sell its 19.85 per cent stake.
In a statement to shareholders, Insentia’s board credited the attractive premium, the certainty of value as well as the synergies from the companies in light of industry conditions.
Phosphate exploration company Fertoz meanwhile, has reported postive results from its two-year field report monitoring the beneficial effects of combining organic rock phosphate and potash fertilizer by Fertoz distributor, Soil Works.
The positive results have sparked a steady stream of orders from new and repeat Fertoz customers.
Patrys (ASX:PAB) +44%
The brain cancer company reported that new preclinical data for its deoxymab antibody, PAT-DX1, has been published in a leading, peer-reviewed journal The Journal of Clinical Investigation—Insight.
The data, which was obtained from studies conducted in three different animal models, demonstrated the ability of Patrys’ PAT-DX1 antibody to cross the blood-brain barrier (BBB), and significantly inhibit the growth of both primary and secondary cancers in the brain.
The fibrosis and high blood pressure specialist has received an approval to conduct a phase 1 human trial in Australia for VB0004.
The trial will study the safety and tolerability of single and repeat doses of VB0004 administered orally to healthy volunteers; and to patients with mild to moderate hypertension with low cardiovascular risk.