We were about due for some rain here in Melbourne! Finally has felt like summer for the last couple weeks
Across Markets…
The Australian sharemarket rallied on Wednesday, lifted by strong earnings beats from major index heavyweights, including Commonwealth Bank, that helped offset a sell-off in CSL’s share price.
The S&P/ASX 200 Index climbed 1.7 per cent, or 147.40 points, to 9914.80, putting the bourse within a point of its record high of 9115.20 set in October. Eight of the 11 sectors were trading higher. The Australian dollar hit a three-year high as it rose above US71¢.
Financials buoyed the market as Commonwealth Bank jumped 6.8 per cent to $169.56, its biggest one-day gain since its 10.9 per cent rally in March 2020. That’s after cash profit for Australia’s largest lender came in $200 million ahead of market expectations for the half year, while its interim dividend at $2.35 topped market consensus for $2.31.
“We think that this is a better result than anticipated,” Citi analyst Thomas Strong said. “Costs were largely in line with expectations, although higher investment spend will begin to raise queries on future productivity dividends.”
National Australia Bank added 3.4 per cent to $45.49, Westpac 2.5 per cent to $40.27, and ANZ 1.3 per cent to $37.20.
Materials were also up, led by James Hardie after the company reported EBITDA of $US330 million in the December quarter, which was 6 per cent above expectations and exceeded the guidance of between $US298 million and $US318 million. The shares jumped 10.9 per cent to $36.87.
Evolution Mining also extended its gains, adding 8.7 per cent to $16.28 after it declared a higher-than-expected interim dividend of 20¢ and stronger cash flow. Fellow gold miner Newmont rose 2.4 per cent to $171.49, and BHP 1.6 per cent to $51.07.
Those gains were tempered by CSL, which dropped 4.6 per cent to $163.44 after it dumped chief executive Paul McKenzie in the final minutes of trading on Tuesday, and on Wednesday posted an 81 per cent slump in half-year earnings to $US400 million ($566 million).
Citi warned that the biotech’s full-year guidance was now at risk after first-half sales missed consensus by 2 per cent and underlying profit by 4 per cent.
Source: AFR
Paradigm Biopharmaceuticals Publishes Canine Osteoarthritis Study Showing Durable PPS Benefits
Paradigm Biopharmaceuticals (ASX: PAR) has published peer-reviewed results in leading scientific journal* PLOS One *demonstrating sustained pain reduction, functional improvement, and structural joint benefits from pentosan polysulfate sodium (PPS) in naturally occurring canine osteoarthritis.
The publication reports durable effects through 26 weeks following a six-week treatment course, with outcomes spanning clinical pain scores, objective gait analysis, magnetic resonance imaging, and serum biomarkers.
The findings provide translational validation in a disease model that closely mirrors human osteoarthritis, offering a compressed analogue of longer-term human outcomes.
The study adds to Paradigm’s growing body of evidence supporting the disease-modifying potential of injectable pentosan polysulfate sodium as the company advances its late-stage development program.
Study Design and Key Outcomes
Paradigm Biopharmaceuticals supported a randomised, placebo-controlled translational study in companion dogs with radiographically confirmed, naturally occurring osteoarthritis affecting the stifle and or elbow joints.
Dogs received weekly subcutaneous dosing of PPS for six weeks, with follow-up assessments conducted through week 26.
After adjustment for higher baseline pain in the treatment group, PPS-treated dogs demonstrated sustained reductions in Helsinki Chronic Pain Index scores to six months, while placebo-treated dogs showed worsening pain.
Objective gait analysis showed progressive normalisation of gait symmetry at weeks eight and 26, consistent with improved weight-bearing and reduced lameness.
Structural and Biomarker Evidence
Quantitative magnetic resonance imaging demonstrated stabilisation and modest increases in total cartilage volume in PPS-treated dogs at weeks eight and 26 relative to baseline.
In contrast, placebo-treated dogs continued to show cartilage volume loss over the same period, supporting a potential structural disease-modifying effect.
Serum biomarkers showed reduced bone resorption, with CTX-I levels declining and a statistically significant treatment effect observed at week 26.
Additional biomarker changes included reductions in hyaluronic acid and increases in TIMP-1, collectively consistent with slowed cartilage degradation and altered joint tissue turnover.
To read more, click here
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Today’s Price Change: $0.014 +16.67%
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Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.175 -2.78%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Today’s Price Change: $0.049 +2.08%
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Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Today’s Price Change: $0.050 +21.95%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.053 -5.36
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Sector: Biotech
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Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Today’s Price Change: $0.003 Unchanged
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Deal Type: Placement
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Today’s Price Change: $0.022 -4.35%
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Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Today’s Price Change: $13.43 -0.59%
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Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
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Deal Type: Placement
Raise Amount: $1M
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Today’s Price Change: $0.027 Unchanged
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Sector: REE
Deal Type: Placement
Raise Amount: $1M
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Deal Type: IPO
Raise Amount: $8.6M
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Deal Type: Placement
Raise Amount: $1.7M
Latest Entry Price: $0.01 with 1:3 option $0.02 strike
Today’s Price Change: $0.007 Unchanged
Sector: Gold/Mining
Deal Type: Placement
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