The below mentioned stocks have witnessed significant improvement in their share price during today’s trade session. Let’s take a closer look at these stocks-
Imagion Biosystems Limited (ASX: IBX)
Imagion Biosystems Limited (ASX: IBX) helps in early detection of cancer by using the combination of biotechnology and nanotechnology. The company has a technology that can be used to improve diagnosis for many common cancers.
Today, the company has announced that it has completed toxicology safety study of its lead MagSenseTM nanoparticle formulation, results of which will be used to support filings with regulatory and clinical authorities to proceed to first-in-human testing. The company believes that it will be breaking new ground in medical imaging bringing a targeted bio-safe iron oxide nanoparticle to first-in-human studies.
Benefits of Early Detection (Source: Company Reports)
Following the release of this news, the share price of the company increased substantially by 12.5% during the intraday trade.
In the last six months, the share price of the company decreased by 50% as on 22 May 2019. IBX’s shares closed the day’s trade at $0.027 with a market capitalisation of $7.75 million as on 23 May 2019.
Farm Pride Foods Limited (ASX: FRM)
The shares of Farm Pride Foods Limited’s (ASX: FRM) are up by 45.455% in today’s trade session. Due to the significant rise in the share price, ASX has raised a price query in which it has noted the change in the price of FRM’s securities from a low of $0.22 at the close of trading yesterday, to a high of $0.30.
In reply to this query, the company has advised that it is not aware of any information could explain the recent trading in its securities. For the half- year ended 31 December 2018, the company announced revenues from ordinary activities of $44.636 million.
In the last six months, the share price of Farm Pride Foods Limited decreased by 71.79% as on 22 May 2019. FRM’s shares closed the day’s trade at $0.320 with a market capitalisation of $12.14 million as on 23 May 2019.
Simble Solutions Limited (ASX: SIS)
The shares of Simble Solutions Limited (ASX: SIS) are up by 66.667% in today’s trade session, despite of not releasing any price sensitive information.
In an update provided on 13 May 2019, the company had announced that the accelerating sales activity in the Simble Energy division, stable revenues from the Mobility division and a reduction in gross costs of the business overall has resulted in a significant reduction in the net burn rate which is forecasted to continue to decline gradually over time.
Further, the company is confident that it will continue to deliver further improvements in cash flow over time which will gradually reduce the Company’s reliance on external capital. The company is also confident that it will meet its business objectives as its business continues to grow and has a significant customer pipeline of opportunities.
SIS’s shares closed the day’s trade at $0.050 with a market capitalisation of $3.1 million as on 23 May 2019.
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