Its almost the end of the week, so hang in there!
The Federal Reserve, as expected, voted for a 0.25 of a percentage point rate increase.
Policymakers see rates at 5.1 per cent by year-end, according to the median estimate in the Fed’s latest quarterly summary of economic projections.
The move set the US central bank’s benchmark overnight interest rate in the 4.75 per cent-5.00 per cent range, with updated projections showing 10 of 18 policymakers still expect rates to rise another quarter of a percentage point by the end of this year, the same endpoint seen in the December projections.
Across markets…
Australian share futures turned positive as did Wall Street as investors initially at least parsed the Federal Reserve’s latest policy statement as good news; it lifted rates as expected, signalled a peak was near, and rate cuts not far ahead either.
Markets were pricing in about 85 per cent odds that the Fed will raise rates by a quarter point to a range of 4.75 per cent to 5 per cent — the highest since 2007 on the eve of the global financial crisis. It met those expectations.
ASX futures were down 13 points to 7029 near 5.50am AEDT, reversing earlier modest gains.
- On Wall St at 2.53pm: Dow +0.4% S&P +0.7% Nasdaq +1.1%
In a tweet from Schwab’s Kathy Jones: “Initial response to FOMC decision: Hike but leave the door open to pause due to uncertainties. Median dots stay at 5.1% despite upward revision to inflation for this year. Call it a “dovish hike” I suppose.”
Source: AFR
- Several ASX health stocks are seeking US FDA approval for drugs/devices in the near future
- Telix Pharmaceuticals is chasing renal cancer imaging approval for TLX-250 CDx
- Aroa is awaiting an FDA decision on the required regulatory pathway for new product Enivo
As Neuren Pharmaceuticals (ASX:NEU) continues to savour the sweet taste of US Food and Drug Administration approval, which other ASX health stocks are hoping to follow in its footsteps?
NEU’s large pharmac partner Acadia (Nasdaq:ACAD) announced on March 10 that the FDA had approved trofinetide, now dubbed Daybue, for the treatment of Rett syndrome in adult and pediatric patients two years of age and older.
As Stockhead’s very own small-cap share analyst Tim Boreham told readers after the announcement Trofinetide is one of only a handful of drugs developed from scratch in Australia (with help from the Kiwis in Neuren’s case) and approved by the FDA.
It’s the first since the FDA granted approval to Telix Pharmaceuticals (ASX:TLX) for its Illucix prostate cancer diagnostic in December 2021.
Petra Capital healthcare analyst Tanushree Jain said FDA approval is a watershed event for a company and can transform them from a risk perspective and financially.
News of the FDA approval saw the NEU share price soar 60% in the five days following announcement of the FDA approval.
Source: Stockhead
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.26 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: $0.028 +3.70%
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: $0.011 +11.00%
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.03 with a 1:3 CDTOA
Today’s Price Change: $0.018 Unchanged
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.013 -7.14%
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: $0.063 -4.55%
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: $0.50 Unchanged
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.013 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: $0.047 -2.08%
Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.015 Unchanged
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.04 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $1.34 +1.14%
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: $0.05 +6.38%
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.037 +2.78%
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.12 Unchanged
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.009 Unchanged
Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.021 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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