Why Artrya, Clinuvel, Imugene, and Pilbara Minerals shares are storming higher today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 8,620.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Artrya Ltd (ASX: AYA)

The Artrya share price is up almost 10% to $3.78. Investors have been buying this medical technology company’s shares after it announced its second customer win in the United States. Artrya has signed a commercial agreement with Northeast Georgia Health System for its Salix AI-powered cloud platform. It is used for the near real time, point of care assessment and management of coronary artery disease. The company’s co-founder and CEO, John Konstantopoulos, said: “We are proud to secure our second U.S. commercial customer through this three-year commercial agreement with Northeast Georgia Health System, a respected leader in patient care across the U.S. Southeast.”

Clinuvel Pharmaceuticals Ltd (ASX: CUV)

The Clinuvel Pharmaceuticals share price is up 4% to $12.81. This morning, this specialty pharmaceuticals company announced a significant expansion of its VALLAURIX Research, Development and Innovation (RD&I) Centre in Singapore. Management notes that this strategic five-year investment solidifies the site’s transition into a global hub for developing advanced, long-acting peptide formulations. Clinuvel’s chief operating officer, Lachlan Hay, said: “We are grateful for the support from EDB and are committed to building a truly unique, bespoke facility in Singapore. This positions CLINUVEL at the forefront of peptide delivery technologies, enabling us to execute our vision with speed and precision.”

Imugene Ltd (ASX: IMU)

The Imugene share price is up 5% to 33.7 cents. This has been driven by news that the immune-oncology company has received written minutes from the US Food and Drug Administration (FDA) following its recent Type C meeting. This is in relation to the registrational pathway for azer-cel. The company notes that the minutes “provide clear alignment across the key elements required to advance azer-cel into a pivotal study and further validate the program’s growing clinical and commercial potential.”

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4% to $3.95. This may have been driven by a broker note out of UBS this morning. According to the note, the broker has upgraded the lithium miner’s shares to a neutral rating (from sell) with an improved price target of $4.00 (from $2.40). It made the move after upgrading its lithium forecasts on increased demand.

The post Why Artrya, Clinuvel, Imugene, and Pilbara Minerals shares are storming higher today 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.