The S&P/ASX 200 Index (ASX: XJO) has started the week in a subdued fashion. At the time of writing, the benchmark index is off its lows but down 0.2% to 7,130.1 points.
Four ASX shares that are not letting that hold them back today are listed below. Hereâs why they are rising:
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 18% to $9.07. Investors have been buying this biotech companyâs shares after its treatment for Rettâs Syndrome was granted US FDA approval. The company has a deal in place with its partner Acadia Pharmaceuticals (NASDAQ: ACAD) that could result in significant revenue generation.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 7% to $11.29. This has been driven by a strong rise in the gold price thanks to demand for safe haven assets. It isnât just Northern Star that is rising today. The S&P/ASX All Ordinaries Gold index is up 5.4% this afternoon.
Race Oncology Ltd (ASX: RAC)
The Race Oncology share price is up 2% to $2.03. This morning, this oncology company has made appointments to support observational stage of a Phase 1/2b clinical trial of Zantrene (bisantrene) in breast cancer patients treated with doxorubicin and cyclophosphamide and who have two or more cardiovascular risk factors.
Westgold Resources Ltd (ASX: WGX)
The Westgold share price is up 12% to $1.05. Investors have been buying this gold minerâs shares following the rise in the gold price and the release of an announcement. The latter reveals that its flagship Big Bell mine at Cue in Western Australia continues to exceed design outputs. It delivered 8,447 ounces of gold in January and 7,895 ounces in February. Drilling results have also exceeded expectations.
The post Why Neuren, Northern Star, Race Oncology, and Westgold shares are storming higher appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX All Ords stock is rocketing 27% on a new FDA approval
- 5 things to watch on the ASX 200 on Monday
- Why APM, Macquarie Telecom, Northern Star, and Origin shares are rising today
- Uranium and gold: What are the best ASX shares to buy for these minerals?
- 5 things to watch on the ASX 200 on Wednesday
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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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