Live ASX News Today
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28th Jul 05:10 PM AEST
LiveTiles (ASX:LVT) posts record cash receipts and strong revenue results
LiveTiles Limited (ASX:LVT), the software firm shared today its Quarterly activities report for the three month period ended 30 June 2021.
Key Highlights
- The Company marked its annual recurring revenue of AU$62.8 million, a 17% growth as compared to the previous corresponding period.
- Another major enterprise customer signing, a AU$2.1 million, three-year contract with Nestle, a top 100 Fortune company with over 350,000 employees. A record signing for LiveTiles EMEA.
- Cash receipts rose 30%, hit a record AU$14.6 million. The firm posted net operating cash outflow of AU$1.2 million; a 24% improvement compared to Q3FY21.
- The Company as on 30 June 2021, has AU$16.7 million cash on hand. This is adequate for sufficient cashflow runway for company operations.
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28th Jul 04:36 PM AEST
ASX 200 ends 0.7% lower ahead of Fed meet; inflation jitters also weigh
Australian shares ended lower on Wednesday as spike in inflation and extension of lockdown in Greater Sydney dented market sentiment. The equity market traded cautiously ahead of the Federal Open Market Committee (FOMC) meeting to have more clarity on the timing of stimulus tapering.
The S&P/ASX200 dropped 52.10 points or 0.70% to settle at 7,379.30. The surge in selling in blue-chip stocks such as BHP, Rio Tinto, Nickel Mines, Redbubble, Netwealth Group, Polynovo and Pointsbet Holdings dragged the market.
The market breadth, indicating the market's overall strength, was very weak with ten of the 11 sectoral indices ending bleeding in red. The information technology was the worst performers with over 1.95% loss, followed by energy which tumbled 1.3%. Among others, telecom, financial, materials, health care, consumer staples and consumer discretionary also ended in negative territory.
Bucking the trend, A-REIT was the only gainer, closing 1% higher.
Among the individual stocks, investment fund Spark Infrastructure Group (ASX: SKI) emerged as top performer on the ASX pack with 5.2% gain. Some of the other notable gainers were English bank Virgin Money UK PLC (ASX:VUK), automotive retail group Eagers (ASX: APE) and IT firm WiseTech Global Limited (ASX:WTC).
On the losing side, miner Nickel Mines Limited (ASX:NIC) topped the chart with 10.2% loss. Some of the worst performers were online bookmaker PointsBet Holdings Limited (ASX: PBH) and health care firm Polynovo Limited (ASX:PNV).
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28th Jul 04:01 PM AEST
SRJ Technologies Group (ASX:SRJ) rises on contract win
Shares of engineering services provider SRJ Technologies Group (ASX:SRJ) rose as much as 7.5% to AU$0.215, their highest since 30 June 2021.
The Company stated it has won a consulting contract with Netherlands-based offshore oil and gas exploration services provider SBM Offshore.
The stock has posted its biggest intraday percentage gain since 16 July 2021.
The stock has fallen 60.8% this year, as of the last close and was 5% down at AU$0.190 per share at 3:58 PM AEST.
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28th Jul 04:00 PM AEST
Capricorn Metals (ASX:CMM) jumps on buying WA gold project
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Shares of gold explorer Capricorn Metals Ltd (ASX:CMM) jumped as much as 20.435% to AU$2.210 per share at 3:50 PM AEST, their biggest one-day rise since April 2020.
The Company has executed two separate binding agreements to buy all shares in Crimson Metals Pty Ltd to acquire control over Mt Gibson Gold Project in Western Australia.
CMM shares at highest level since September 2020.
More than four million shares have been traded so far.
CMM stock is top gainer on metals and mining sub-index AXMM.
The stock has added 2.8% this year, as of the last close, versus a 17.8% increase in the AXMM index.
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28th Jul 03:38 PM AEST
A-Cap Energy (ASX:ACB) falls as virus curbs delay work at project
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Shares of the uranium and cobalt explorer (ASX:ACB) fell as much as 5% to AU$0.057, their lowest since 21 July 2021.
The Company said on-ground exploration work at the Wilconi Cobalt-Nickel project in Western Australia has been delayed due to coronavirus restrictions.
The stock has posted its biggest intraday percentage fall since 21 July.
The stock has risen 93.6% this year, as of the last close.
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28th Jul 03:38 PM AEST
Jervois Mining (ASX:JRV) sees worst day in over a year on share placement
Shares of the cobalt explorer Jervois Mining Limited (ASX:JRV) dropped as much as 14.9% to AU$0.485, posting their biggest intraday percentage fall since 23 March 2020.
The stock, which is at its lowest level since 27 May, has returned from a trading halt entered on 19 July.
The Company shared it has completed the share placement offer it announced on 27 July.
JRV will issue ~197 million shares under the placement and ~113 million shares under the institutional entitlement offer, both at AU$0.44 per share to raise a total of AU$313 million.
The issue price implies a 15.4% discount to stock's last close of AU$0.52.
Total issue of 310 million shares under the two offers represent about 42.2% of the Company’s shares on free float, as per the Refinitiv data.
More than 11 million shares have been traded so far as compared to the 30-day average volume of about 1.1 million shares.
The stock has risen 46.2% this year, as of the last close and was trading 13.158% lower at AU$0.495 per share at 3:15 PM AEST.
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28th Jul 03:11 PM AEST
Skyfii (ASX:SKF) loses most in nearly four months on weak FY numbers
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Shares of Skyfii Ltd (ASX:SKF) shed as much as 13.8% to AU$0.125, their sharpest one-day loss since 6 April 2021.
The data analytics provider said that its full-year operating EBITDA came in at AU$1.57 million, down 25% compared with FY20 numbers.
However, the Company posted an 18% increase in its FY total operating revenue of AU$15.9 million.
The Company expects to deliver double-digit recurring revenue growth in FY22.
The stock is down 25.6% this year, as of the last close and was 10.345% lower at AU$0.130 per share at 3:00 PM AEST.
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28th Jul 03:04 PM AEST
Eagers Automotive (ASX:APE) revs up on robust earnings outlook
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Shares of automotive retailer Eagers Automotive Limited (ASX:APE) rose as much as 5.7% to AU$16.59, their highest since 1 July 2021.
The Company stated it expects half-year underlying operating profit before tax from continuing operations of about AU$218.6 million as compared with AU$40.3 million a year earlier.
Underlying operating profit last year had been impacted by the coronavirus pandemic, the Company informed.
The stock has posted its biggest intraday percentage gain since 20 May.
The shares are up 18.13% this year, as of the last close.
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28th Jul 01:18 PM AEST
Nickel Mines (ASX:NIC) slides as coal costs hit quarterly earnings
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Shares of Nickel Mines Limited (ASX:NIC) posted losses as much as 7.7% to AU$1.085, their lowest since 27 April 2021.
The Company has registered a marginal rise of 0.7% q-o-q in nickel metal production from its Hengjaya Nickel and Ranger Nickel projects combined on March-quarter.
The firm stated higher realised prices were partly offset by an increase in operating cash costs due to rising thermal and coking coal prices.
NIC said cash costs are higher by 5% during the quarter.
Despite cost pressures during June quarter, the Company’s RKEF operations were able to maintain a healthy EBITDA margin, informed NIC.
The stock is biggest percentage loser in the ASX 200 index AXJO.
The stock is up 6.3% this year, as of the last close and was 6.809% lower at AU$1.095 per share at 1:10 PM AEST.
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28th Jul 01:09 PM AEST
Mader Group (ASX:MAD) hits over two-month high on upbeat Q4
Shares of Mader Group Limited (ASX:MAD) rise as much as 2.1% to AU$0.965, their highest since 5 May 2021.
The business support services provider posted a 24% rise in Q4 revenue to AU$86.4 million, driven by high demand.
The Company said quarterly EBITDA rose over 36% to AU$11.5 million.
The stock has marked biggest intraday percentage gain since 22 July 2021.
Though MAD is down 3.6% this year, as of the last close, at 1:00 PM AEST, it was trading 1.587% up at AU$0.960 per share.
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28th Jul 01:08 PM AEST
National Tyre & Wheel (ASX:NTD) hits near three-year high on forecast raise
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Tyre maker firm National Tyre & Wheel Limited (ASX:NTD) shares gained as much as 3.9% to AU$1.21, their highest since 30 August 2018.
The Company stated it has now expected FY21 operating EBITDA to be AU$35.9 million, up from previous forecast of between AU$31 million and AU$33 million.
The Company added that it has been benefited from unusually high consumer demand for some products ... unusual inventory movements throughout the industry.
It expected basic earnings per share of 18 cents for FY21, above previous view of 17 cents, sees FY22 operating EBITDA slightly lower in the range of AU$31 million to AU$33 million.
The stock has posted its biggest intraday percentage gain since 6 July 2021 and is on track to rise for a fourth straight session.
NTD is up 22.6% this year, as of the last close.
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28th Jul 12:54 PM AEST
Life360 (ASX:360) records 'milestone quarter' on vaccine rollout, shares gain on ASX
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Shares of San Francisco-based Life360 Inc (ASX:360) gained as much as 4.2% to AU$8.25, their biggest intraday percentage gain since 21 July 2021.
The family app has recorded 32.3 million global monthly active users (MAU) for the quarter, up 15% from the prior quarter, driven by viral surge from its teen audience.
The Company, however, has posted quarterly underlying EBITDA loss of AU$3.3 million, while revenue jumped 28% year-on-year to AU$25 million.
This was a milestone quarter for Life360, with growth accelerating as the benefits of the vaccine rollout were felt, particularly in the United States, informed Life360.
The stock is up more than double this year, as of the last close and at 12:30 PM AEST, 360 was trading 3.282% higher at AU$8.180 per share.
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28th Jul 12:33 PM AEST
ALS Limited (ASX:ALQ) jumps most in over five weeks on stake buy in European pharma business
Testing services provider ALS Limited (ASX: ALQ) gained as much as 3.9% to AU$13.03, its biggest intraday percentage jump since 22 June 2021.
The Company said it has acquired an initial 49% stake in Germany-based pharmaceutical testing firm NUVISAN for about 145 million euros.
Acquisition expands ALS Ltd's pharmaceutical offering in the drug development, research and development, as well as its footprint in Europe.
ALS stock has hit its highest since 6 July and is among the top three gainers in the ASX 200 benchmark index AXJO.
ALS is up 30.5% this year, as of the last close and at 12:20 PM AEST, the stock was 1.116% higher at AU$12.680 per share.
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28th Jul 12:16 PM AEST
Spark Infrastructure (ASX:SKI) scales to top of ASX on revised bid offer from suitors
Australia's Spark Infrastructure Group (ASX:SKI) jumped as much as 6.9% to AU$2.78, its biggest intraday percentage jump since 15 July.
The electricity infrastructure investor said a consortium including private-equity firm KKR & Co has hiked its buyout offer price to AU$2.95 per share, up from previous offer of AU$2.80 apiece.
Revised bid price values Spark at AU$5.13 billion and represents a premium of 13.5% to its last close.
Spark has agreed to grant the consortium - which also includes Ontario Teachers' Pension Plan Board - access to its books following the revised bid.
SKI has said that it is in the interests of its securityholders to engage further with the consortium. Spark earlier in the month had rejected the consortium's offer saying it undervalued the firm.
SKI is top gainer in the ASX 200 benchmark index AXJO and is up 23.2% this year, as of the last close, outpacing a ~13% increase in the ASX 200 benchmark index.
At 12:00 PM AEST, the stock SKI was 5.384% up at AU$2.740 per share.
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28th Jul 12:15 PM AEST
IGO Limited (ASX:IGO) posts strong results in Q4-21
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IGO Limited (ASX:IGO), the mining and exploration company, shared updates for June quarter (Q4-21). It has completed the 2021 Financial Year (FY21) with strong production and financial results. Production numbers at IGO’s Nova beat guidance for Q4-21 and for FY21. Nickel, copper and cobalt production were above guidance top end.
Sales revenue for Q4-21 was up 44% over prior quarter, driven by higher nickel and copper concentrate sales volumes and positive commodity price movements. EBITDA grew 50% q-o-q to AU$139.5 million. Net profit after tax (NPAT) was AU$452.6 million, including pre-tax gain on the divestment of Tropicana.
During Q4-21, IGO also completed the Tropicana divestment to Regis Resources Ltd (Regis). Results for Tropicana up to 31 May 2021 are included in IGO’s reporting for this period. It also completed the formation of a new lithium joint venture (JV) with Tianqi Lithium Corporation (Tianqi). In addition, after Q4-21 end, an agreement was finalised with Creasy Group to acquire Silver Knight.
Total cash at the end of June 2021 was AU$528.5 million. Significant cash movements during Q4 included completion payment for the Lithium Transaction, net cash receipts from the Tropicana divestment, and strong operating cash flows.
IGO has also appointed Michael Nossal as chairperson with effect from 1 July 2021.
IGO shares traded 1.102% down at AU$8.980 at 11:50 AM AEST.
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28th Jul 12:15 PM AEST
Miners and tech stocks drag ASX, Spark Infra surges on takeover bid
Australian shares witnessed selling pressure on Wednesday, with the benchmark index, ASX200, retreating from yesterday’s record high. The selling in blue chip miners Rio Tinto and BHP as well as tech and energy stocks dragged the market lower. The news of lockdown extension in Sydney also weighed on market sentiment.
The S&P/ASX200 was trading lower by 24 points or 0.32% at 7,408 by the lunch. Early today, the index opened lower following weak closing at Wall Street in overnight trade.
On the sectoral front, six of the eleven sectors were trading in red zone. Information technology was the worst performer with 0.9% loss, followed by energy which tumbled 0.8%. Among others, telecom, financial, consumer discretionary and materials were also trading lower.
Bucking the trend, A-REIT was the best performer with over 1% gain. Some of the other sectors that witnessed buying includes utilities, industrials and consumer staples.
Among the individual stocks, investment fund Spark Infrastructure Group (ASX: SKI) was top percentage gainer on ASX, up 5% by the lunch. Some of the other notable gainers were English bank Virgin Money UK PLC (ASX:VUK), professional technical services provider ALS Ltd (ASX: ALQ) automotive retail group Eagers (ASX: APE) and IT firm WiseTech Global Limited (ASX:WTC).
On the flip side, miner Nickel Mines Limited (ASX:NIC) was top loser on ASX pack, falling 6.4%. Some of the worst performers were online bookmaker PointsBet Holdings Limited (ASX: PBH), health care firm Polynovo Limited (ASX:PNV), gold miner St Barbara Limited (ASX:SBM) and mining explorer Orocobre Ltd (ASX:ORE).
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28th Jul 12:09 PM AEST
Select Harvests’ (ASX:SHV) shares trade strong on market & crop update
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Select Harvests Limited (ASX:SHV), the integrated Almond business, presented a crop and market conditions update, at the PAC Partners and AgFood Conference today.
Crop Update-
- 70% of SHV crop has been processed.
- It estimates the crop volume, including that acquired from Piangil Almond Orchard, to be approximately 28,250 MT.
- SHV investment in new inshell optical sorters has improved inshell production for growing China and India markets.
- Inshell production has already equalled last years’ full year volumes.
Market Conditions-
- Australian almond exports are up 67% y-o-y; South/Central Asia (India) market up 306%.
- Market pricing has significantly improved on strong demand. The current market prices have risen by AU$0.50 per kg to AU$6.75 per kg. Demand stays robust on these levels.
- 65% of Selects Harvests’ 2021 crop is committed at prices ranging AU$6.15/kg - AU$6.45/kg.
- SHV’s 2022 crop is progressing well with good tree health.
- SHV anticipates pollination to peak in mid-August and beekeepers have commenced delivering hives to its orchards.
SHV is looking forward to a strong performance in 2022. It is also seeking benefits from Piangil Almond Orchard acquisition.
SHV shares traded 1.992% up at AU$7.680 per share at 11:20 AM AEST.
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28th Jul 11:31 AM AEST
Openpay (ASX:OPY) delivers strong growth in Q4 FY21, marks 141% rise in active plans
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Openpay Group Ltd (ASX:OPY), the BNPL company, released its quarterly business update for the period ended 30 June 2021 (Q4 FY21).
OPY delivered Strong growth across leading metrics in Q4 FY21-
- Active Plans hit 2 million, up 141%, pcp.
- Active Customers were up 69% pcp with 51% from UK.
- Highest-ever 84% new plans from Repeat Customers recorded.
- Active Merchants of 3.8K up 77% pcp; the highest increase of new Active Merchants.
- Strong volume growth dynamic, with an increase in TTV, up 46% pcp.
In addition, OPY USA is expected to be live in early October 2021. USA is the world’s largest developed BNPL market. OPY seeks to accelerate UK growth with Payment Assist acquisition and ingrain OPY’s position as BPNL global leader in Automotive vertical.
Significant platform partnerships have been signed by OPY with ecommerce providers, like, Adobe, Quest Payment Systems, Shopwired, Apparel 21, etc. It is to drive future growth across all key verticals.
A major funding package has been approved by OPY shareholders, raising AU$37.5 million equity via an oversubscribed institutional placement.
OPY shares traded 1.667% down at AU$1.180 per share at 11:30 AM AEST.
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28th Jul 11:31 AM AEST
Select Harvests’ (ASX:SHV) shares trade strong on market & crop update
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Select Harvests Limited (ASX:SHV), the integrated Almond business, presented a crop and market conditions update, at the PAC Partners and AgFood Conference today.
Crop Update-
- 70% of SHV crop has been processed.
- It estimates the crop volume, including that acquired from Piangil Almond Orchard, to be approximately 28,250 MT.
- SHV investment in new inshell optical sorters has improved inshell production for growing China and India markets.
- Inshell production has already equalled last years’ full year volumes.
Market Conditions-
- Australian almond exports are up 67% y-o-y; South/Central Asia (India) market up 306%.
- Market pricing has significantly improved on strong demand. The current market prices have risen by AU$0.50 per kg to AU$6.75 per kg. Demand stays robust on these levels.
- 65% of Selects Harvests’ 2021 crop is committed at prices ranging AU$6.15/kg - AU$6.45/kg.
- SHV’s 2022 crop is progressing well with good tree health.
- SHV anticipates pollination to peak in mid-August and beekeepers have commenced delivering hives to its orchards.
SHV is looking forward to a strong performance in 2022. It is also seeking benefits from Piangil Almond Orchard acquisition.
SHV shares traded 1.992% up at AU$7.680 per share at 11:20 AM AEST.
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28th Jul 11:00 AM AEST
Rio Tinto (ASX:RIO) commits to fund Jadar lithium project
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Rio Tinto (ASX:RIO), the global mining giant, has committed AU$2.4 billion to the Jadar lithium-borates project in Serbia. Jadar lithium is amongst world’s largest new unexplored lithium projects.
The Jadar project would scale up RIO’s exposure to battery materials. It would show RIOs commitment to for the global energy transition.
Jadar will produce lithium carbonate, qualified for use in large scale EV batteries and for renewable energy storage. Jadar will make RIO the largest lithium supplier in Europe for next 15 years. The borates produced will be, utilised in solar panels and wind turbines.
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Jadar will be amongst the largest industrial investments in Serbia. It will contribute around 1-4 per cent to GDP. A lot of Serbian suppliers are expected to be engaged in mine construction. RIO will be well-positioned to supply enough lithium for over one million electric vehicles each year.
First saleable production is expected in 2026. RIO expects to produce 2.3 million tonnes of lithium carbonate in the 40-year expected life of Jadar.
RIO shares were quoted at AU$131.770 per share, down 0.529% at 10:55 AM AEST.
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28th Jul 10:54 AM AEST
ASX 200 shows sign of resistance as Wall Street closes lower
As of 10:30 AM AEST, the ASX 200 is trading almost flat at 7,429.6, with a loss of mere 1.8 points. Despite today’s laggard performance, the benchmark index is up over 1.65% in the last five days. The ASX All Ordinaries Index is also trading 0.1% or 3.4 points down, at 7,700.6.
US stocks closed Tuesday’s session with a decent selling pressure across the board, as investors stayed cautious ahead of corporate earnings from top tech and internet giants and Wednesday's Fed announcement.
The market breadth is somewhat mixed today, with 6 out of 11 sectors trading in the red. As expected looking at the NASDAQ 100, the IT index has fallen the most in Australia with a cut of 0.64% in the opening session, followed by Mining sector, losing 0.35%. The consumer discretionary index is the strongest sector today, holding its ground with a 0.11% gain.
Rio Tinto Limited (ASX:RIO) faces an investigation by the Financial Court Authority in the UK for an alleged breach of listing rules regarding the disclosure around the value of its Oyu Tolgoi copper mine in Mongolia.
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28th Jul 10:53 AM AEST
Cashrewards’ (ASX:CRW) future Max™ launch begets strong growth in June quarter
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Cashrewards Limited (ASX:CRW), the cashback reward program business, provided its quarterly activities report for the quarter ended 30 June 2021.
Key Highlights
- Business momentum continues as 99,864 new members added, up 208% against the prior corresponding period (pcp).
- Total Members are now at 1.1 million, up 44% against pcp, above FY21 goal. Underlying active members up 46% pcp.
- Underlying Total Transaction value stands at AU$98.4 million, up 50% against pcp.
- Cash receipts from customers were at AU$6.1 million, up 41% against pcp.
In addition, CRW has signed a strategic partnership has been agreed with ANZ bank to launch Cashrewards Max™ for up to 4.7 million ANZ credit and debit card customers in August 2021. It is to add close to 0.5 million Active Members by early FY23 at limited marketing cost to CRW. The Agreement will enable all CRW Members to register their eftpos (electronic funds transfer at point of sale) enabled card and use in-store from July 2021.
Also, CRW has now appointed, experienced financial services executive, Zelma van Woerkom as CFO, commencing August 2021.
CRW share traded 4.210% higher at AU$0.990 at 10:50 AM AEST.
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28th Jul 10:53 AM AEST
Crude oil steadies amid tight supplies and rising COVID-19 cases
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Crude oil prices held steady on Tuesday amid rising cases of a new variant of coronavirus and tight supplies of the black gold.
- October delivery Brent Crude oil futures traded 0.12% up at US$73.80 per barrel, whereas September delivery WTI crude oil futures traded 0.49% up at US$71.98 per barrel as of 28 July 2021 at 9:32 AM AEST.
- The US crude stocks fell by around 4.7 million barrels for the last week ended 23 July while gasoline inventories tumbled by 6.2 million barrels as per the American Petroleum Institute figures.
- The Delta variant of coronavirus is putting pressure on the global crude oil demand again even the crude oil supplies are tight.
- Britain has reported a huge number of infections and the highest number of deaths since March 2021.
- The US has issued travel restrictions to Portugal and Spain because of surging COVID-19 cases.
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28th Jul 10:41 AM AEST
Bryah (ASX:BYH) completes Placement and secures A$3 million Funding Facility, stock opens lower
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Bryah Resources Limited (ASX:BYH) announced on Wednesday that is has successfully completed the placement of shares and options to raise a total of AU$3.95 million.
As per the Company release, the issue of 39,333,333 new shares under Tranche 1 of the Placement, that will be raising AU$2,950,000, was completed on 10 June 2021 using the Company’s 25% placement capacity.
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The issue of 13,333,334 new shares and 13,333,334 free attaching Options under Tranche 2 of the Placement will be raising an additional AU$1,000,000 for the copper-gold-manganese explorer.
Bryah also shared that it has entered into an At-the-Market Subscription Agreement (ATM) with Acuity Capital. The ATM provides Bryah with up to AU$3 million of standby equity capital over the coming 24-month period.
Meanwhile, the stock BYH traded a tad bit lower, shedding 3.390% at AU$0.057 per share at 10:25 AM AEST.
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28th Jul 10:40 AM AEST
Acrux (ASX:ACR) gets FDA approval for its generic version of EMLA® Cream
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Pharmaceutical firm Acrux Limited (ASX:ACR) announced on 28 July 2021 that the US Food and Drug Administration (FDA) has approved its generic version of EMLA® Cream.
In June 2019, Acrux submitted an Abbreviated New Drug Application (ANDA) to gain approval from the FDA to market its generic version of EMLA® (Lidocaine 2.5% and Prilocaine 2.5%) Cream. Now, Acrux can manufacture and market the generic drug.
As per the announcement, the product is indicated as a topical anaesthetic for use on normal intact skin for local analgesia, genital mucous membranes for superficial minor surgery and as a pre-treatment for infiltration anaesthesia.
In the United States, sales generated by the product with which Acrux’s generic will compete exceeded US$21 million in the 12 months to the end of September 2020, the release stated.
The stock ACR was spotted trading last at AU$0.135 per share on the ASX.
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28th Jul 10:40 AM AEST
Anteotech (ASX:ADO) signs UK distribution agreement for EuGeni
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Anteotech Ltd (ASX:ADO) shared today morning that it has signed a Distribution Agreement with Apacor Limited for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test in the United Kingdom.
As per the announcement, Apacor is based in Berkshire, England and carries more than 25 years of experience in designing and manufacturing parasitological pre-analytical products and is a supplier of rapid testing solutions. The current Apacor team have many years’ experience operating in the UK market particularly with Government tenders.
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AnteoTech has appointed Promedt UK as its UK Responsible Person, who will register the EuGeni reader and SARS-CoV-2 Ag RDT with the Medicines and Healthcare products Regulatory Agency.
Promedt UK on behalf of AnteoTech will take responsibility for the regulatory processes associated with the EuGeni products in Great Britain.
Key terms of the Agreement:
- The Agreement will start on 1 August 2021.
- The Agreement is for exclusive sales into the United Kingdom (England, Wales and Scotland).
- The initial term of the distribution agreement is for one year, this can be extended by an additional two years.
The stock ADO traded last at AU$0.225 per share.
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28th Jul 09:58 AM AEST
ASX 200 to open lower after US shares, bond yields fall
The Australian share market may start the day in the red following a weak night of trade on Wall Street. According to the latest ASX futures, the benchmark ASX 200 index is expected to open 0.3% lower on Wednesday. On Tuesday, the benchmark closed 0.5% higher at 7,431.4 points.
US shares fell from record highs overnight while bond yields touched record lows, following concerns on Chinese stock market sell-off, Federal Reserve’s monetary policy meeting and economic growth.
The Dow Jones fell 0.25%, the S&P 500 slipped 0.5%, and the NASDAQ declined 1.2%.
The deepening sell-off in Chinese markets spread to the bond and currency markets on Tuesday following widening concerns over the impact of a recent tightening by the local government’s regulations.
US investors traded on a cautious note as they awaited the Fed's policy statement. The two-day meeting began on Tuesday.
Investors would be closely analysing the statement by Fed Chair Jerome Powell on Wednesday at 2 p.m. EDT (1800 GMT), to take cues on inflation, economic growth, interest rates. Fed could also throw hints on when it would be cutting down its purchases of government bonds.
Read more: Bond yields and dollar