The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and sunk deep into the red. In afternoon trade, the benchmark index is down 1% to 7,295.1 points.

Four ASX shares that aren’t letting that hold them back today are listed below. Here’s why they are charging higher:

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up 18% to $1.09. This morning, this biotech company revealed that the US FDA has accepted its Biologics License Application resubmission for remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). This isn’t approval but does guarantee that the FDA will make a decision on the treatment by 2 August.

Polynovo Ltd (ASX: PNV)

The PolyNovo share price is up 3% to $2.29. This is despite there being no news out of the medical device company today. However, it is worth noting that S&P Dow Jones Indices recently announced that PolyNovo will be added to the ASX 200 index on 20 March.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price is up 3% to $1.16. This morning, the payments company revealed that Pegasus Bidco is looking into making a new takeover offer after shareholders rejected a NZ$1.34 per share proposal at a recent scheme meeting.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 6% to $7.88. Investors have been buying this memory technology company’s shares this week after it announced the availability of its resistive RAM (ReRAM) IP in SkyWater Technology’s 130nm CMOS process. This means that SkyWater customers can now integrate Weebit’s non-volatile memory in their system-on-chip designs, if they wanted to.

The post Why Mesoblast, PolyNovo, Pushpay, and Weebit Nano shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Mesoblast share price rockets 23% on FDA news
• Why InvoCare, Pentanet, Sayona Mining, and Weebit Nano shares are storming higher
• Weebit Nano share price just surged 7% on product commercialisation news
• These ASX shares are being dumped from the ASX 200 index this month
• These 4 ASX shares could rocket this month: Here’s why

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo and Pushpay. The Motley Fool Australia has positions in and has recommended Pushpay. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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