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Clinical-stage biotechnology company Nyrada (ASX:NYR) was very popular on the HotCopper forum today on news that it has now achieved clear anti-tumour activity with its lead drug candidate Xolatryp.
Xolatryp has been found to enhance anthracycline anti-tumour efficacy in a preclinical model of liver cancer, both as a monotherapy and with doxorubicin.
Studies found the combination with doxorubicin exhibited the greatest reduction in tumour volume and was well tolerated.
A provisional patent application for Xolatryp as an anti-cancer agent has been lodged.
NYR was up +13.5% to 63¢ at the time of writing.
Elsewhere, safety-critical technology developer Hydrix (ASX:HYD) was up more than +123% on news it had raised $3.89 million and converted debt to strengthen its operating flexibility as it ramps up its defence-tech expansion
Hydrix recently signed a binding $1.2M contract with NIOA Group to support the development of its Australian Defence Force priority technology. The contract provides an expansion platform for Hydrix’s mission-critical engineering capability.
And, Webjet Group (ASX:WJL) has been a major loser on the day after announcing its financial results for the 1Y ended March 31. The company’s underlying EBITDA of $28.1M was down from $35M, reflecting softer trading.
On a positive note, Webjet delivered on its priorities despite a challenging macro environment, setting up for the future with investment in brand, talent, and technology, growth in international and ancillaries share. It also launched Webjet Business Travel and saw a turnaround in cars and motorhomes.
WJL is down -11.2% to 43.5¢ as investors stepped away from the stock.
The ASX 200 index was down -0.4% to 8,575 points this morning, with the All Ords index falling by a similar percentage to 8,800 points.
That’s Wednesday’s HotCopper Trends, I’m Colin Sandell-Hay — see you for close.
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