2 ASX 300 shares cracking record highs on Friday

A young female ASX investor sits at her desk with her fists raised in excitement as she reads about rising ASX share prices on her laptop.

A young female ASX investor sits at her desk with her fists raised in excitement as she reads about rising ASX share prices on her laptop.

The S&P/ASX 300 index may be trading notably lower than its recent highs, but that hasn’t stopped a couple of shares on the index from climbing to record highs today.

The two ASX 300 shares that have reached these milestones are listed below. Here’s what you need to know:

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The Dalrymple Bay Infrastructure share price climbed to a record high of $2.65 this morning.

As you can see below, this meant that the ASX 300 Australian infrastructure company’s shares had risen over 30% since this time last year.

Investors have been scrambling to buy shares thanks to its ownership of the Dalrymple Bay Coal Terminal (DBCT), which provides terminal infrastructure and services for producers and consumers of Australian coal. Robust demand for Australian coal has underpinned strong earnings and big dividends.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price has continued its impressive run and hit a record high of $13.33 on Friday.

This means the ASX 300 biotech company’s shares are up almost 200% since this time last year, as you can see on the chart below.

The catalyst for this has been news this week that the company’s treatment for Rett’s Syndrome has been granted US FDA approval. This is the first and only approved treatment for the rare genetic neurological and developmental disorder that affects the way the brain develops.

With its commercial launch coming soon, it may not be long until the company starts generating meaningful revenue. This is thanks to its deal with partner Acadia Pharmaceuticals (NASDAQ: ACAD), which includes royalties of up to 15% of net sales above US$750 million and sales milestone payments of up to US$350 million on total sales above US$1 billion in a calendar year.

The post 2 ASX 300 shares cracking record highs on Friday appeared first on The Motley Fool Australia.

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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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