All eyes on bond yields at the moment…
What’s your take?
On another note…
Have you registered for our Spotlight Investor Conference?
If you’re Perth-based, we’d love to see you there for canapes, drinks and networking!
It’s on the 25th of October at the Ritz-Carlton.
Click here for more info and to register.
Across Markets…
The Australian sharemarket closed at its lowest point in 11 months on Wednesday, tracking overnight losses on Wall Street after stronger-than-expected jobs data heaped more interest rate worries on equity markets.
The S&P/ASX 200 ended 53.2 points or 0.8 per cent, lower after tumbling below 7000 on Tuesday for the first time since March.
The benchmark index stands at 6890, its lowest close since November 3, last year.
The third straight session of losses arrived following a strong overnight sell-off on Wall Street, sparked when US labour market data added to fears the Federal Reserve will have to continue to raise interest rates.
The US Job Openings and Labor Turnover Survey showed that the number of available positions rose to 9.61 million in August from less than 9 million in July. Economists polled by Reuters had forecast 8.8 million job openings in August.
Bond yields spiked and the S&P 500 fell 1.4 per cent to a four-month low, while the Nasdaq 100 index dropped 1.8 per cent. The Dow Jones dropped 1.3 per cent, wiping off the last of its year-to-date gains.
By the end of Wednesday, the ASX had tracked similar losses, with the energy and communications sectors among the worst hit sectors, dropping 1.1 per cent.
However, the financials tracked the worst day of the 11 sectors, with a banking rout pulling the sector down 1.5 per cent.
ANZ dropped 1.9 per cent to $24.92, National Australia Bank fell 1.7 per cent to $28.31, Commonwealth Bank edged 1.6 per cent lower to $98.09 and Westpac dipped 1.5 per cent to $20.74.
The persistent higher-for-longer sentiment sweeping markets wasn’t helped by another hawkish pause from the Reserve Bank of New Zealand, which chose to keep the cash rate at 5.5 per cent on Wednesday.
Source: AFR
Australian biotechnology company Noxopharm (ASX: NOX) has been granted orphan drug designation (ODD) status by the US Food and Drug Administration for its CRO-67 preclinical drug candidate to treat pancreatic cancer.
The FDA grants the status to drugs designed to prevent, diagnose or treat rare diseases or conditions.
It comes with benefits including tax credits for qualified clinical trials; exemptions from application fees; and up to seven years of market exclusivity after approval.
So far this year, only two other Australian companies have received an ODD from the FDA, from a total of 260 applications.
Noxopharm chief executive officer Dr Gisela Mautner said the ODD designation was a positive move in the drug’s development.
“For CRO-67 to achieve an ODD is a significant milestone for us… in addition to financial benefits, it will strengthen our commercial position in a market which has seen very few new treatments over recent decades,” she said.
“Our pancreatic cancer program is a high priority and we are committed to progressing its development as quickly as possible with further studies and investigations into dosing and formulation.”
Source: Small Caps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.016 +14.29%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.16 -5.88%
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: $0.006 -14.29%
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: $0.024 Unchanged
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: $0.009 +12.50%
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: $0.01 Unchanged
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: $0.0105 -4.55%
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: $0.042 Unchanged
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: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.003 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: $0.036 +2.86%
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 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.575 -2.54%
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: $0.028 -3.45%
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 Unchanged
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.025 -7.41%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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