Stocks That Plunged On ASX Yesterday – EN1 and ACW

On 8th May 2019, the S&P/ASX 200 closed 26.6 points down to 6269.1 (0.42% drop). As the broader market was down and closed in red, there were many stocks that closed in red too. Let’s have a look at two of these stocks.

engage: BDR (ASX: EN1) is an ASX listed telecommunications company which provides innovative solutions for advertisers to publishers, content owners etc. across various digital devices like smart TVs, smartphone etc. the company got listed on ASX on 14th December 2017 with an oversubscribed IPO, raising $10 million.

On 08 May 2019, the stock made an intraday low of A$0.039 and closed at A$0.04 on ASX, down by 4.7%. Continuing its downward pressure, today the stock is currently trading down by 5% at A$0.038 (as at AEST: 1:41 PM, 09 May 2019).

In the March 2019 quarterly report, the company announced that its net cash from operating activities improved by A$3.9 million to A$1.79 million. Total cash outflow stood at A$3.76 million and the estimated cash flow for the next quarter is expected at A$2.23 million. At the end of the quarter, the company had net cash of A$809,868.

According to a recent cleansing statement released by the company, it had issued 19,165,736 fully paid ordinary share at $0.042 per share for the settlement of creditor balances and outstanding liabilities. It also released an update regarding its IconicReach platform, gaining six new customers on the platform.

The market capitalisation of the EN1 is A$19.45 million. The 52-week high and 52- week low of the stock is A$0.17 and A$0.012 respectively. In the last one year, the stock has delivered a return of -75%, and the YTD return stands at 166.67%.

Actinogen Medical (ASX: ACW) is an ASX listed biotechnology company based in Australia. The company is aiming to develop new ways to provide treatment for cognitive decline that is witnessed in chronic neurological and metabolic diseases. It is also developing its lead compound Xanamem for the treatment against Alzheimer’s disease.

On 08 May 2019, the ACW closed at its intraday low of A$0.014 on ASX down by 6.6%. However, the ACW shares have made a rebound today and are trading at A$0.016 up by 14.286% (As at AEST: 01:41 PM, 09 May 2019).

In the recent March 2019, quarterly update the company reported the first participant had been dosed in new Xanamem study, which is a phase 1 study to access the safety and tolerability of Xanamem™ 20mg & 30mg. It reassures that it is on the path to report XanADu results in less than 2 months, which is a phase 2 study.

It reported a net cash outflow of A$4.25 million from operating activities, A$40,000 of cash inflow from financing activities and no investing activity was carried out in the quarter.

On 7th May 2019, it released a statement regarding the results of its phase 2 study of Alzheimer’s disease trial. The pilot study of XanADu confirmed that consuming a 10mg daily dosage of Xanamem is safe and it is effective in constraining cortisol generation. While this mild dosage appeared to be safe, higher doses and longer treatment duration may be required to exhibit the potential to improve cognition in Alzheimer’s disease.

The market capitalisation of ACW is A$15.67 million. The 52-week high is A$0.066 and 52-Week low is A$0.014. In the last one year, the stock has delivered a return of -66.67%, and the YTD return stands at -68.89%.


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