Yesterday we spoke with ASX:CLB’s James Baillieu and Keith Cohn who are looking forward to the quarterly report, which should be out before months end.
It seems that their strategy to go online and focus on the B2B business is paying off and we hope that this also translate to a higher stock price.
Also for us in Nico-Lab, we should hear from the company shortly.
Just take a look at 4DX ($650M market cap, with less than $1M revenues) and EMV ($190M market cap, nil revenues), to indicate how well the medtech space is tracking.
Across markets…
Last night, stocks fell on speculation that recent gains have outpaced prospects for a quick end to the stalemate over fresh economic stimulus. Treasuries and the dollar climbed.
Banks led losses in the S&P 500, with JPMorgan Chase & Co. and Citigroup Inc. sinking as investors worried that third-quarter earnings signaled just a pause in pain from soured loans. Eli Lilly & Co. tumbled after putting its government-sponsored antibody test on hold due to potential safety concerns, hours after Johnson & Johnson paused its Covid-19 vaccine trial.
Amazon.com Inc. closed little changed and Apple Inc. slumped after Monday’s surge in big tech. The online retailer kicked off its Prime Day sale event, while the tech giant unveiled its iPhone 12 line with 5G speed.
Prospects for U.S. fiscal stimulus before Election Day dimmed on Tuesday, with House Speaker Nancy Pelosi demanding the Trump administration revamp its latest offer and Senate Republican leader Mitch McConnell pushing a smaller-scale strategy that she quickly rejected. His proposal to vote next week on just one provision appeared to stoke opposition even from President Donald Trump, who tweeted “Go big or go home!!”
“It’s been a rollercoaster ride in terms of communication from both sides,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management. “There are still going to be significant pockets of stress in the economy,” and a fiscal package could help bridge the gap until we do get a vaccine, he added.
Meanwhile, Democrats grilled U.S. Supreme Court nominee Amy Coney Barrett for hours about abortion rights, health-care law, guns and election disputes, but made little progress derailing her likely Senate confirmation and a strengthened conservative majority on the court.
The SPI is down 50 points this morning.
Source: Bloomberg
Stocks
The S&P 500 dipped 0.6% as of 4 p.m. New York time.
The Stoxx Europe 600 Index decreased 0.5%.
The MSCI Asia Pacific Index rose 0.1%.
Currencies
The Bloomberg Dollar Spot Index jumped 0.5%.
The euro decreased 0.6% to $1.1747.
The Japanese yen weakened 0.1% to 105.48 per dollar.
Bonds
The yield on 10-year Treasuries slid five basis points to 0.73%.
Germany’s 10-year yield fell one basis point to -0.56%.
Britain’s 10-year yield decreased three basis points to 0.239%.
Commodities
The Bloomberg Commodity Index fell 0.3%.
West Texas Intermediate crude rose 2% to $40.22 a barrel.
Gold slid 1.5% to $1,893.74 an ounce.
Source: Bloomberg
Closely watched biotech Mesoblast (ASX:MSB) says that over 150 severely ill COVID-19 patients on ventilators have been enrolled in a study of its stem cell treatment, remestemcel-L.
That’s over half of the 300 patients needed for phase 3 trial to see if Mesoblast’s inflammation-fighting treatment cuts death rates in the severely ill COVID-19 patients.
A pilot study involving just a dozen COVID-19 patients on ventilators being treated at New York’s Mt Sinai Hospital in March and April suggested the intravenous transfusion worked wonders, with nine of the 12 patients suffering from acute respiratory distress syndrome (ARDS) being discharged from the hospital in an average of just 10 days.
“There is an urgent need for targeted treatments to reduce the continued high mortality in COVID-19 ARDS patients who are dependent on mechanical ventilators,” Mesoblast chief medical officer Dr Fred Grossman said.
“We expect to complete the enrolment target in this important trial by the end of the year as the enrolment rate continues to increase in line with the surge in new infections across the United States.”
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.062 Unchanged
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.18 +2.78%
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.11 -12.00%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.19 -2.56%
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.073 +8.96%
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.060 Unchanged
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.022 Unchanged
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.95 -1.67%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.034 -5.56%
Sector: Mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.010 Unchanged
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3m
Price Change: $0.0070 Unchanged
Sector: Gaming
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Price Change: $0.059 -7.81%
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.015 +7.14%
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted therapy
Year: 2020
Deal Type: Placement
Raise Amount: $2.5m
Price Change: CAD $0.055 Unchanged
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $330k
Price Change: 0.045 +4.65%
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