Happy Friday!
Good to see a green finish on the boards.
It’s been a busy day @PeakHQ as we went live with an oversubscribed placement in our portfolio company ASX:1AD.
And now it’s time for some R&R and a glass of red.
Enjoy the weekend.
Across Markets…
The Australian sharemarket finished on a positive note on Friday, tracking strong gains on Wall Street, as hopes the Federal Reserve may finally be done with raising interest rates gathered momentum.
The benchmark S&P/ASX 200 index rose 1.1 per cent, or 78.5 points to 6978.2 at market close, buoyed by ten out of the 11 sectors.
It sealed a weekly gain of 2.2 per cent, the most since July. The All Ordinaries added 1.1 per cent to 7175.1
Overnight on Wall Street, the S&P 500 added 1.9 per cent – its best session since April.
“Most global share markets rebounded over the last week from oversold levels on the back of increasing optimism that the Fed has finished raising rates, strong US earnings results and the war in Israel being relatively contained so far,” wrote AMP chief economist Shane Oliver in a note to clients.
The interest rate sensitive real estate sector was one of the best performers, jumping 2 per cent. Goodman increased 1.7 per cent to $22.04, Westfield owner Scentre up 4.5 per cent to $2.58 and Charter Hall climbed 3.7 per cent to $9.77.
In company news, Macquarie Group shares rallied 1.8 per cent to $163.24 even as it reported a 39 per cent drop in half-year net profit to $1.4 billion and declared an interim dividend of $2.55 a share. Revenue was booked at $7.9 billion.
Property developer Lendlease added 1.1 per cent to $6.38 following the news that the company and Google was ending its agreement to help develop the internet giant’s four major districts in the San Francisco Bay Area.
Afterpay parent Block climbed 25.2 per cent to $81.18 and was the best performing stock on the ASX 200. The company boosted projections for adjusted profit. It forecasts adjusted earnings before interest, taxes, depreciation and amortisation for 2023 to be in the $US1.66 billion ($2.58 billion) to $US1.68 billion range.
Source: AFR
Neuren Pharmaceuticals (ASX: NEU) is expecting to receive increasing royalty payments from its US partner Acadia Pharmaceuticals, with sales of the recently launched DAYBUE treatment continuing to surge.
The Australian pharmaceutical company developed a unique Rett syndrome treatment and granted an exclusive worldwide licence to Acadia for the development and commercialisation of its trofinetide breakthrough, which is being marketed in the US as DAYBUE.
DAYBUE was launched by Acadia in the US in mid-April 2023 as the first treatment ever approved for Rett syndrome by the US Food and Drug Administration (FDA).
In North America, Neuren receives quarterly royalties on net sales, plus milestone payments of up to $545 million subject to achievement of annual net sales thresholds, plus one third of the market value of a rare paediatric disease priority review voucher when sold or used by Acadia.
Neuren has welcomed news from Acadia that it has obtained third quarter DAYBUE net sales in the United States of $104 million, up from $36 million in the second quarter.
Acadia also provided positive guidance for net sales in Q4 2023 of between $125 million and $136 million.
Neuren now expects its royalty returns for DAYBUE will reach $10.4 million for Q3 2023, before climbing to between $12.5 and $13.7 million for Q4 2023 and between $26 million to $28 million for full year 2023.
Source: Smallcaps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.012 +9.09%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.135 +3.85%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.12 Unchanged
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.005 -16.67%
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.02 +5.26%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.007 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.02 with a 2:3 CDTOA
Today’s Price Change: $0.011 +4.76%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 AEVO
Today’s Price Change: $0.0135 +3.85%
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.047 -2.08%
Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.175 Unchanged
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.029 -3.33%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.011 +10.00%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.43 Unchanged
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.0225 +7.14%
Company: Carly Holdings Ltd (ASX:CL8)
Sector: AI and Car subscription
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.025 with a 1:2 CL8O
Today’s Price Change: $0.017 Unchanged
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 +33.33%
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.023 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
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