Do you follow the biotech space?
It’s been an amazing trading day for our portfolio company ASX:DXB.
The company is set to receive to receive up to ~AU$230 million in upfront and milestone payments, plus royalties for the licensing of its lead asset, DMX-200.
More info below.
Across Markets…
The sharemarket rebounded on Thursday, tracking a Wall Street-inspired relief rally after softer US jobs data soothed worries, at least for now, about high interest rates.
Eight out of the 11 sectors on the ASX 200 ended in the black, with real estate and tech leading gains.
The major banks rallied between 0.2 per cent and 0.9 per cent, rebounding from yesterday’s sell-off.
Shares in gold miners jumped, boosted by stronger prices of the precious metal as bond yields and the US dollar stepped back from highs.
Resources stocks, however, capped the index’s gains following a brutal sell-off in crude prices overnight.
The Nasdaq jumped 1.4 per cent after US private payrolls missed expectations – rising 89,000 last month following a gain of 180,000 in August.
Energy was the biggest laggard, down 0.9 per cent, even as oil prices steadied following a spectacular 5 per cent drop in crude on Wednesday. Santos declined 0.4 per cent to $7.42, Woodside Energy fell 0.8 per cent to $34.31 and Whitehaven Coal dropped 1.3 per cent to $6.75.
The dark mood spread to the country’s mining heavyweights. BHP Group was down 0.7 per cent to $43.43 and Rio Tinto dropped 1.5 per cent to $111.91.
Further undermining their appeal were weakening iron ore prices. In Singapore, the benchmark November iron ore futures contract slid down just 0.1 per cent to $US115.3 a tonne.
Source: AFR
Drug development company Dimerix (ASX: DXB) has secured a licencing deal with Advanz Pharma Corp for the commercialisation of Dimerix’s Phase 3 drug candidate DMX-200 to treat focal segmental glomerulosclerosis (FSGS) kidney disease.
The agreement will give Advanz exclusive rights to register and market the drug in the European Economic Area, UK, Switzerland, Canada, Australia and New Zealand following regulatory approval.
Dimerix will retain all rights to commercialise DMX-200 outside of these territories.
Under the terms of the deal, Dimerix will receive an upfront payment of $10.8 million within the first month and milestone payments of up to $219 million, plus tiered royalties of up to 20% on net sales of the drug.
Dimerix and Advanz will form a steering committee to align the development and commercialisation of DMX-200 and any data and regulatory filings may be used by either party for development and commercialisation purposes in their respective territories.
Advanz has a right of first offer to negotiate a licence to develop and commercialise DMX-200 in any additional indications in the licenced territories.
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: $0.014 -12.50%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 -6.25%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.115 -4.17%
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 Unchanged
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: $0.025 +4.17%
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: $0.0085 +6.25%
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: $0.011 +10.00%
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: $0.037 +2.78%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.012 +9.09%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.59 +2.61%
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 Unchanged
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: $0.024 -4.00%
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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