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In this daily HotCopper Trends column, we break down the top Oz stocks through each trading day.
GEM | Takeover proposal sends G8 Education shares soaring 90%
G8 Education (ASX: GEM) was popular after it announced it had received a non- binding, indicative proposal from Majority Capital Partners to acquire 100% of the ordinary shares in G8 by way of a scheme of arrangement.
G8 has entered into a transaction process deed with Majority Capital Partners in relation to the proposal.
Under the terms of the Proposal, G8 shareholders would have the opportunity to elect to receive a percentage of their scheme consideration in shares in a newly incorporated holding company of the entity that would acquire the G8 shares, with the remainder payable in cash.
The G8 directors have confirmed that they are in favour of the scheme of arrangement in relation to the proposal in the absence of a superior proposal.
CX8 | Capability X begins ASX trading after $12m IPO, shares jump 35%
Capability X (ASX: CX8) has commenced of trading on the ASX following the completion of its successful $12 million initial public offering (IPO).
The company operates within the Edge AI Control Systems category, addressing a total addressable market that Frost & Sullivan independently estimates at more than $280 billion per annum, driven by accelerating demand for automation, enhanced safety and real-time intelligence.
“Today is a defining moment for Capability X. Globally, close to three million people lose their lives to work-related accidents each year, and the industries carrying the most risk are adopting automation faster than ever,” chairman, Ian Campbell, said.
“Capability X gives operators a live, intelligent view of their people, machinery and risk and the ability to act before an incident occurs. We warmly welcome our new shareholders and thank every investor who has backed this mission.”
CU6 | FDA breakthrough therapy designation lifts Clarity Pharmaceuticals 18.5%
Clarity Pharmaceuticals (ASX: CU6) was up after the US Food and Drug Administration (FDA) granted breakthrough therapy designation for positron emission tomography (PET) of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer with suspected recurrence based on elevated serum prostate- specific antigen (PSA) level.
Breakthrough therapy designation is a process designed to expedite the development and review of drugs that are intended to treat a serious condition, and preliminary clinical evidence indicates that the drug/agent of interest may demonstrate substantial improvement over available therapy on a clinically significant endpoint(s).
“Receiving this breakthrough therapy designation is one of the most significant milestones in our prostate cancer program to date. Its importance is further amplified given fewer than half of designation requests across all therapeutic areas are successful,” EC, Dr Alan Taylor, said.
“The FDA’s award of the first breakthrough therapy designation in the history of PSMA PET imaging highlights both the unmet need for more accurate detection of recurrent prostate cancer lesions and the significance of the data generated to date, which indicates improved diagnostic performance of 64Cu-SAR-bisPSMA compared to SOC PSMA PET in patients with BCR of prostate cancer.”
LOOKING WIDER | ASX 200 slips as visitor arrivals rise
Looking wider, the S&P/ASX 200 was lower today, dropping 33.80 points or 0.37% to 9,119.40. The bottom performing stocks in this index were Minerals 260 and PDI Gold, down 6.82% and 5.35% respectively. Over the last five days, the index has gained 0.60% and is currently 1.91% off of its 52-week high.
Elsewhere, short-term visitor arrivals increased 1.0% on one year earlier to 703,480, according to new overseas arrivals and departures released by the Australian Bureau of Statistics (ABS).
Short-term resident returns increased 1.5% on one year earlier to 1,066,070.
Total arrivals was 1,839,170, an increase of 0.5% on one year earlier.
Total departures measured 1,941,450, an increase of 1.0% on one year earlier.
The three leading source countries where visitors came from were New Zealand (132,250 trips), China (108,010) and the USA (47,720).
That’s Thursday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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