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Highlights
Amplia Therapeutics surges on clinical update in pancreatic cancer trial
ASX 200 dampened by declines in tech, energy, and materials sectors
Bank stocks and selective healthcare names provide morning stability
The Australian share market opened to a subdued tone with the ASX 200 paring back early strength, driven by underperformance across technology, materials, and energy segments. A modest uptick in consumer discretionary and financials provided some balance, though not enough to counter broader selling pressure.
Amplia Therapeutics Ltd (ASX:ATX) emerged as a key highlight in early trading. The biotechnology firm posted a notable update in its pancreatic cancer trial, contributing to a strong open and helping support sentiment in the healthcare segment.
Amplia Therapeutics Achieves Second Complete Response in Cancer Trial
Amplia Therapeutics surged during the session after announcing that its lead compound, narmafotinib, in combination with chemotherapy, achieved a second complete response in patients with advanced pancreatic cancer. The update came from its ongoing ACCENT study, which evaluates the efficacy of FAK inhibitor-based treatment in difficult-to-treat cancer types.
Complete responses in advanced pancreatic cancer are seldom observed, making this development a significant moment for the clinical-stage biotech. The outcome sparked heightened interest among market watchers and spotlighted Amplia within the All Ordinaries index during morning trade.
Monazite Discovery Pushes Peak Minerals Shares Higher
Elsewhere, Peak Minerals Ltd (ASX:PUA) attracted attention after reporting high monazite content at its Minta Rutile project in Cameroon. The company highlighted encouraging heavy mineral content across multiple drill holes, suggesting a rich concentration of valuable mineral components such as monazite, zircon, and rutile.
The update lifted interest in the company’s broader resource exploration activities, placing PUA among the stronger performers on the morning leaderboard.
Technology and Resources Lead Early Declines Across Indices
Despite isolated stock-specific gains, technology, energy, and materials underperformed in early trade. Key large-cap names in these sectors saw declines as early session sentiment tilted cautious. Information technology and resource-linked stocks appeared most affected by subdued global cues and commodity pricing concerns.
Mining majors and energy producers such as BHP, Rio Tinto, and Woodside Energy drifted lower, pulling on both the ASX 100 and ASX 50 indices. Traders remained attentive to commodity data and international factors impacting global risk sentiment.
Banks Offer Stability Ahead of Labour Force Data
Major banks including National Australia Bank (ASX:NAB) and Westpac Banking Corporation (ASX:WBC) offered early resilience, lifting the financials sector. These names provided a cushion for the broader market as the Australian Bureau of Statistics prepared to release new Labour Force figures.
