The Galan Lithium Ltd (ASX: GLN) share price is getting a jolt of enthusiasm on Tuesday.

At the time of writing, shares in the lithium explorer are up 9% to $1.635. However, earlier in trade Galan shares topped as much as $1.71, representing a 14% increase from its previous close.

Accounting for today’s spectacular gain, the Galan Lithium share price is now up a gobsmacking 352% in 2021.

Why is the Galan Lithium share price flying higher today?

Investors are putting their money behind the Galan Lithium share price on Tuesday following the release of the company’s preliminary economic assessment (PEA) for its project in Argentina.

The 100% owned Candelas project in Catamarca, Argentina delivered ‘excellent’ preliminary results. Galan highlighted a potential unleveraged pre-tax net present value of US$1,225 million. This was determined with an 8% discount rate and an internal rate of return of 27.9% over a four-year period.

Importantly, the company used a long-term average real lithium price assumption of US$18,594 per tonne. Considering the current going rate is around US$29,000 per tonne, this appears to be a relatively conservative estimate.

Furthermore, the assessment inferred a project life of 25 years, capable of producing 14,000 tonnes per annum of battery-grade lithium carbonate. Another important factor is the expected cost of production. The PEA indicates a competitive cash production cost of US$4,277 per tonne.

It is expected the development would take around US$408 million (A$570 million) in initial outlay to get the project off the ground. For context, based on the current Galan Lithium share price, the company currently has a market capitalisation of $473 million.

What did management say?

In the announcement, Galan’s managing director Juan Pablo Vargas de la Vega said:

We are delighted by the strong and competitive results of the Candelas Project PEA. Our projects continue to show healthy economics and upside despite using a conservative long term price assumption at a time when new lithium projects are scarce. Galan now has two potential production fronts combining for a long-term production rate of 34ktpa of LCE. This rate could be even higher once we finish drilling at our flagship HMW project.

In addition, Vargas de la Vega stated:

We remain determined to bring our projects to market in the shortest possible time so that we can supply lithium for future lithium battery requirements needed for electric vehicles.

Lastly, the company has enjoyed a stellar run this year, riding on the coattails of strong lithium demand. In the past year, the Galan Lithium share price has skyrocketed 395% in value.

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• ASX 200 (ASX:XJO) midday update: AMP shares jump, Collins Foods impresses
• Why is the Aussie Broadband (ASX:ABB) share price soaring today?
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Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. The benchmark index is currently up 1.1% to 7,321.6 points.

Here’s what is happening on the ASX 200 today:

AMP demerger update

The AMP Ltd (ASX: AMP) share price is charging higher today following the release of a demerger and strategy update. Management notes that the demerger will see AMP Limited operate as a retail wealth manager in Australia and New Zealand. Whereas PrivateMarketsCo will operate as a global manager of infrastructure and real estate investments with a growing focus on international institutional clients. PrivateMarketsCo will focus on leveraging the significant opportunity to become a global leader in the fast-growing private markets industry.

Collins Foods’ result impresses

The Collins Foods Ltd (ASX: CKF) share price is racing higher today following the release of a strong half year result. The quick service restaurant operator reported a 9.5% increase in revenue to a record of $534.2 million and a 31.6% jump in underlying net profit after tax to $28.9 million. The KFC Europe business was a key driver of this strong half.

Westpac’s ASIC agreement

The Westpac Banking Corp (ASX: WBC) share price is pushing higher after reaching an agreement with ASIC to resolve six separate longstanding matters through agreed civil penalty proceedings filed in the Federal Court of Australia. Westpac and ASIC will jointly submit agreed proposed penalties for each of the proceedings, totalling $113 million. The matters include the provision of incorrect interest rate information provided to debt purchasers and the charging of advice related fees to deceased customer accounts.

Best and worst ASX 200 performers

The Credit Corp Group Limited (ASX: CCP) share price is the best performer on the ASX 200 today with a 9% gain. This follows the announcement of the acquisition of Radio Rentals. The worst performer has been the BlueScope Steel Limited (ASX: BSL) share price with a 2.5% decline on no news.

The post ASX 200 (ASX:XJO) midday update: AMP shares jump, Collins Foods impresses appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited and Westpac Banking Corporation. 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 recommended Collins Foods Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Aussie Broadband Ltd (ASX: ABB) share price jumped after it became the latest “buy” rated idea on JPMorgan’s list.

The broker initiated coverage of the broadband services company and highlighted three reasons why it’s bullish on the shares.

The Aussie Broadband share price could soon rechallenge its record highs. The shares surged 7% surge to $5.42 in morning trade. It’s within striking distance of its $5.45 peak hit two weeks ago.

Aussie Broadband share price rises on premium product

JPMorgan reckons it’s worth more as premium product offering offers a strong competitive advantage.

“ABB’s key competitive advantage is in customer service, offering better guarantee of speeds, lower congestion and better responsiveness than the incumbents,” said JPMorgan.

“Higher market churn rates driven by the NBN rollout and more recently increased working-from-home due to COVID-19 lockdowns have contributed to ABB’s strong growth.”

Strong operating leverage

It’s this premium offering that has allowed the company to capture a 5% market share to become the fifth largest NBN retailer to households.

The better service limits the size of the markets Aussie Broadband can service. But the broker reckons it can double its market share by FY27.

The growing subscriber base gives JPMorgan more reasons to recommend the Aussie Broadband share price as “overweight”.

Other reasons to like the Aussie Broadband share price

“We expect strong growth in subscribers to result in 27% per annum revenue growth over the next 5 years with operating leverage to drive higher EBITDA margins,” added JPMorgan.

“The recent white label product offering with Origin could also see incremental subscriber growth and potentially lift ABB’s corporate appeal.”

You can’t underestimate corporate appeal in this market. Merger and acquisitions are all the rage with the Vocus share price and Uniti Group Ltd (ASX: UWL) share price featuring prominently on this front.

Telstra Corporation Ltd (ASX: TLS) is also getting a lot interest for its asset sales as global investors clamour for annuity-style investments.

What is the Aussie Broadband share price worth?

Aussie Broadband is jumping on the M&A bandwagon too. It has made an approach for Over The Wire Holdings Ltd (ASX: OTW).

JPMorgan’s 12-month price target on the shares is $6.50. It noted that the valuation is particularly sensitive to market share gains due to operating leverage.

For instance, if Aussie Broadband captures a 15% market share by FY27, its valuation increases to $11 a share.

The post Why is the Aussie Broadband (ASX:ABB) share price soaring today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brendon Lau owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Aussie Broadband Limited. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Aussie Broadband Limited and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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GUD Holdings Ltd (ASX: GUD) has hit the pause button on the trading of its shares today as the company announced an acquisition and equity raising.

Before they were put on ice, GUD shares were set to open the session at $12.03, down 3% from a week ago. Let’s take a closer look at what the company announced today.

What’s got the GUD share price halted today?

GUD advised that it has entered into a share purchase agreement to acquire Auto Pacific group for a total consideration of approximately $744.6 million.

The release highlights that APG is a designer and manufacturer of “high-quality, engineered and functional automotive and lifestyle accessories”. APG is “highly complimentary” to the company’s GUD 4-wheel drive and commercial vehicle accessories (G4CVA) platform, per GUD.

It is also “best in class” with respect to its research and development, whereas GUD is also impressed by APG’s “strong financial performance and future growth potential”.

GUD reckons that its latest acquisition is forecast to pull in $80-$84 million of earnings before tax and amortisation (EBITA) in CY22F. The acquisition also has the potential to deliver net synergies of around $7 million per annum according to the company.

GUD made the purchase on a valuation of 9.1X EVB/CY22F EBITA, and after synergies it values the company at 8.4X.

The company expects the deal to be accretive to its earnings per share (EPS), and expects a “low double digit EPSA accretion in pro forma  CY22F”.

To finance the deal, GUD is completing a fully underwritten $405 million equity raise. It will also undertake another $282 million of debt and will issue $75 million worth of new GUD shares to vendors associated with the transaction.

Why did GUD buy APG?

According to the release, the acquisition will see the group make a meaningful step towards its vision of becoming an “integrated leader in 4WD accessories and trailer in Australia and New Zealand“.

The deal will also make a positive contribution to the group’s earnings, as it claims APG is the “undisputed market leader in towing with strong brands at market positions across a diverse range of [4WD accessories]”. 

Commenting specifically on the acquisition, GUD’s CEO Graeme Whickham said:

4WD accessories and trailering is a cornerstone of GUD’s automotive vision. This acquisition represents the culmination of management and the board’s work in creating GUD’s portfolio vision. We are excited by the opportunity for GUD to expand its existing 4WD and commercial vehicle businesses with complementary products, customers and capabilities. APG is an industry leading designer, manufacturer and distributor of high quality, engineered and functional automotive and lifestyle accessories that are suitable for all combustion and electric vehicle applications.

GUD share price snapshot

The GUD share price has struggled these past 12 months after posting a gain of just 7% in that time. Over the year to date, it has climbed just 2.5%.

Despite landing on the green for these 2 time frames, GUD shares are down 1% in the past month and have slipped another 3% this past week.

The post GUD (ASX:GUD) share price halted amid $745 million acquisition appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions 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 Bruce Jackson.

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Omicron (CRYPTO: OMIC) only launched a few weeks ago. On 9 November, to be precise.

In its early hours of life, the crypto was trading for US$205 (AU$287). Over the following few weeks, it dipped as low as US$49, trading for US$69 as recently as Saturday, 27 November.

Then word broke of the new COVID variant emerging from South Africa. It was initially labelled B.1.1.529 by the World Health Organisation (WHO). But the mutated virus was rebadged as Omicron over the weekend when the WHO concluded it was a variant of concern.

And then the crazy price action for the Omicron crypto took off.

What happened with Omicron after the variant was named?

In what may be a sign of the times we live in, once the word Omicron was on everyone’s mind due to the viral mutation, the crypto of the same name surged.

On Monday one Omicron was worth US$692. That’s a gain of 903% in less than 2 days.

Astounding.

But the air seems to be coming out of the fast-rising crypto. At the time of writing, it’s trading for US$209. While that’s still well up on Saturday’s US$69, investors who bought at the peak will be nursing a current loss of 70%.

Caveat emptor.

The Bitcoin (CRYPTO: BTC) price, interestingly, went the other way. Bitcoin fell hard alongside global share markets once news of the new COVID variant made global headlines. It then regained much of those losses after medical authorities revealed the variant may not be much more dangerous than Delta.

What does this crypto do?

According to CoinMarketCap, “Omicron is a decentralised reserve currency protocol available on the Arbitrum Network based on the OMIC token”.

CoinMarketCap and other crypto service providers don’t offer a market capitalisation for the token, saying they don’t have the needed information on the circulating supply.

Looking ahead, should there be another COVID variant in our future (let’s all hope not!) it will likely receive the name Pi, next up in the Greek alphabet.

And if you were wondering there is indeed a crypto with that label. Namely, Plian (CRYPTO: Pi). Plian was launched in June 2018 and has a current market cap of US$11 million.

Will Pi take off, briefly, like Omicron if that next COVID variant emerges?

Only time will tell.

The post Why did the Omicron crypto just rocket 900% and what is it doing now? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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 Bruce Jackson.

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The Orocobre Limited (ASX: ORE) share price has been a strong performer on Tuesday.

In morning trade, the lithium miner’s shares are up 6.5% to a record high of $10.08.

Why is the Orocobre share price at a record high?

The catalyst for the rise in Orocobre share price today appears to have been the release of its annual general meeting update.

While the event didn’t contain a great deal of new information, there were a couple of items that may have got investors excited.

The first is the outlook for lithium supply and demand. The company expects lithium demand to grow materially through to 2040 due to electric vehicle adoption and the global transition to carbon neutrality.

This is expected to lead to a widening deficit over the next two decades, with demand predicted to be more than twice as great as supply by 2040. As a result, the presentation reveals that analysts at Roskill are predicting that this will keep prices at sky high levels long into the future.

What else did the company reveal?

Also potentially giving the Orocobre share price a boost was commentary on current pricing.

The release notes that the company’s Mt Cattlin operation continues to experience strong demand and pricing momentum. So much so, the average price for the December quarter is estimated to be $1,650 per tonne for 6.0% Li2O. This is almost double the September quarterly average.

It was a similar story for its Olaroz brine operation, which has revised its December quarter pricing upwards to US$12,000 per tonne.

Is the Orocobre share price in the buy zone?

One broker that is bullish on the Orocobre share price is Citi.

While it has yet to respond to its annual general meeting update, it currently has a buy rating and $11.00 price target on its shares. This implies further potential upside of 9% for Orocobre’s shares.

The post Why the Orocobre (ASX:ORE) share price is up 6% to a record high today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. 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 Bruce Jackson.

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The A2 Milk Company Ltd (ASX: A2M) share price has fallen around 50% in 2021. Does that now make it a cheap opportunity?

Before the second half of 2020, A2 Milk was a market darling. When looking at the performance over the last five years, it still shows a rise of 171%.

The business has gone through a lot of pain. Even now, the business is still seeing difficulties as it tries to beat previous sales.

What’s the latest for the A2 Milk share price?

A2 Milk recently gave a trading update on 27 October 2021 for its performance so far in FY22.

English label infant formula sales in the first quarter were down compared to the first quarter of FY21, but were significantly up on the fourth quarter of FY21, which was “constrained” to reduce channel inventory levels.

A2 Milk said that its English label infant formula sales are expected to be down in the first half of FY22 but ahead of expectations.

Chinese label infant formula sales in the first quarter of FY22 have been constrained to reduce channel inventory levels further with sales “significantly down” on both the first and last quarters of FY21. Distributor offtake and retailer sales were up double digits year on year, but lower than expected. Chinese label infant formula sales are now expected to be “significantly down” in the first half of FY22.

Infant formula tier 1 inventory levels are now at the required levels for both English and Chinese label.

ANZ fresh milk volume was up year on year in the first quarter, but sales were flat because of foreign currency movements.

US liquid milk volumes were down, mainly due to a reduction in ranging by a club channel customer. Distribution cost pressures continue.

Mataura Valley Milk (MVM), with its advanced nutritional processing plant, has seen reduced demand and active steps are being taken to secure additional volume.

What do analysts think of the A2 Milk share price?

Opinions are mixed on the business. Citi currently rates the business as a buy and thinks it’s valued at 30x FY23’s estimated earnings.

UBS is very optimistic. This broker rates it as a buy, with a price target of $10.20 – that’s around 70% higher than today. It’s expecting a good recovery in the next few years. UBS puts the A2 Milk share price at 23x FY23’s estimated earnings.

The brokers at Macquarie Group Ltd (ASX: MQG) noted that A2 Milk has an ambition to grow sales to over NZ$2 billion and “improve margins”. The business is targeting an earnings before interest, tax, depreciation and amortisation (EBITDA) margin that’s “probably in the teens” in the medium-term due to market conditions, investment and innovation. The medium-to-long-term margin target is “low to mid 20s” subject to a recovery stronger than the market is expecting, English label channel growth and market share gains.

Macquarie thinks the margin outlook isn’t compelling and that there are still risks from here. Macquarie rates A2 Milk as a sell, with a price target of just $5.20.

The post Down 50% in 2021, is the A2 Milk share price a cheap buy? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Three leading altcoins, Tezos (CRYPTO: XTZ), Algorand (CRYPTO: ALGO), and Polkadot (CRYPTO: DOT), were among the biggest winners in the crypto markets today.

As of 1 p.m. ET, Tezos had appreciated 17.4%, while Algorand shot 11% higher and Polkadot ascended 11.3%.

So what

Today, most large-cap cryptocurrencies are up substantially, along with risk assets such as growth stocks, as investors debate the seriousness of the omicron variant of the coronavirus. Capital appears to be flowing heavily into risk assets today, with digital assets seeing positive flows in this regard.

Tezos, a self-amending blockchain that is best known for its established role in the security token space, is among the biggest winners in the altcoin space today. Investors appear to finally be factoring in a catalyst from last Friday. Indeed, we saw Black Friday sales take hold in the crypto space, amid concerns relating to the omicron variant materializing after Thanksgiving. However, a piece of news that was seemingly overshadowed on Friday — that music non-fungible tokens (NFTs), including those from a member of Linkin Park, will be launched on the Tezos network — has provided another catalyst for investors bullish on what Tezos has to offer.

At least part of today’s rally in Algorand appears to be tied to some significant venture capital interest in this cryptocurrency. News that a former Citi banker has added Algorand as its first partner for its $1.5 billion fund has sent this token higher. This notable pick from a high-profile investor, and bullish commentary around Algorand representing a “paradigm shift” in the crypto world, has investors excited.

Polkadot appears to be moving alongside broader crypto markets. However, some have suggested Polkadot’s parachain auctions, tied to various rising metaverse-themed cryptos, could be driving the returns investors are seeing with Polkadot.

Now what

Each of these three altcoins are unique in the utility they offer end users. However, it’s clear that these three altcoins are ones with significant momentum today.

These tokens have each erased losses from this weekend, and appear to be resuming a positive trend. For long-term investors looking for altcoins with support right now, Tezos, Algorand and Polkadot look strong.

Of course, market-related headwinds could materialize, should investors turn bearish on risk assets once again. There remains a significant amount of uncertainty around this new coronavirus variant. Accordingly, capital flows into digital assets remain uncertain. 

That said, these three tokens appear to be top of mind for investors looking to buy the dip today. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 altcoins aking Parabolic Moves Higher Today appeared first on The Motley Fool Australia.

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Chris MacDonald owns shares of Algorand and Tezos. Citigroup is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc owns shares of and recommends Tezos. 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 Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Shares in steel producer Bluescope Steel Limited (ASX: BSL) haven’t produced much excitement in November. The company has been trading sideways in sawtooth fashion for over a month now, failing to breach the $22 a share mark on several occasions.

At the time of writing, The Bluescope share price is trading at $20.45 after spiking less than 1% from the open today.

It’s been a difficult period during the back end of 2021 for the company, amid softer steel prices and weakening demand for steel out of China. As such Bluescope is now down 1% for the month and has slipped over 2% into the red this past week.

What’s up with the Bluescope share price lately?

Bluescope shares have struggled of late while investors respond poorly to volatility in steel spot and futures markets. The price of steel has fallen off the cliff-face since early October, sliding 29% in that time to trade at 4,217 Chinese Yuan per tonne.

This drop comes even as steel prices reached 10-year highs during the last 2 months. Production curbs imposed by China to tackle emissions and pollution put a dent in the demand and supply dynamic for the metal in 2021, alongside steelmakers’ profits this year.

Now as Steel futures trade at their lowest levels since February 2020, China is again set to resume production – but domestic demand for the metal is still weak, according to Trading Economics.

Coming off such a buoyant steel market where the metal now trades almost 30% lower in 2 months, bodes in poorly for the Bluescope share price given that it produces the commodity.

As such, it is considered a price taker that share prices fluctuate with volatility in the wider commodity markets, especially steel and iron ore.

Without the frothy steel prices to drive cash flow down into Bluescope’s bottom line, the company’s earnings are under threat and investors are responding accordingly by staying on the sidelines for now, Morgan Stanley suggests. The broker is neutral on Bluescope and values the company at $23.50 per share.

Investors are also tightening their grip on ASX-listed names touted as heavy polluters and are calling for more climate representatives on the boards of Australian resource companies.

For instance, a report from the Investor Group of Climate Change (IGCC) recently called out 15 ASX 200 companies – including Bluescope – and submitted that each lacks the skills and experience to tackle climate risk.

This, the IGCC says, poses a material risk to the company and investors alike, and it calls on companies like Bluescope to be the beacon of change by recognising and tackling the issues.

It’s not all doom and gloom for Bluescope investors, however. Almost 60% of the analysts covering the company have it as a buy, and the average price target is $25.18, implying an upside potential of 24%.

Bluescope share price snapshot

In the past 12 months, the Bluescope share price has climbed 19% after rallying a further 16% this year to date.

These results are well ahead of the benchmark S&P/ASX 200 Index (ASX: XJO)’s gain of around 10% in the last year.

The post Why has the Bluescope (ASX:BSL) share price had such a tough time in November? appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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The Rhythm Biosciences Ltd (ASX: RHY) share price is on fire on Tuesday morning.

At the time of writing, the cancer diagnostics technology company’s shares are up 15% to $1.90.

This means the Rhythm Biosciences share price is now up an impressive 68% in 2021.

Why is the Rhythm Biosciences share price rocketing higher today?

Investors have been bidding the Rhythm Biosciences share price higher today following the release of an update relating to its ColoSTAT product.

ColoSTAT is a simple, low-cost, blood test for global mass market detection of colorectal cancer. The company notes that colorectal cancer is the third most common cancer in men and the second most common in women globally, accounting for an estimated 1.9 million new cases and 935,000 deaths annually.

According to today’s release, the company has achieved a major regulatory milestone for the commercialisation of ColoSTAT. The product has been granted CE Mark and fully conforms with the European Directives for IVD Medical Devices.

Management highlights that this critical regulatory achievement is a result of robust and stringent analytical testing and adherence to design and development procedures.

Rhythm Biosciences’ CEO, Glenn Gilbert, said: “The achievement of this regulatory milestone continues to validate our commercial pathway into significant global markets, with Europe alone representing a massive addressable population of over 231 million people. This significant achievement represents an initial step change in the Company and is a testament to the dedication and commitment of the entire Rhythm team. Rhythm is currently assessing its commercialisation options to market ColoSTAT into Europe.”

What’s next?

The company notes that being granted CE Mark was a critical component in its commercial plan and priority market entry strategy. It allows Rhythm to commercialise, market and sell ColoSTAT in a significant global market across Europe and other countries which recognise CE.

Management estimates that this customer market currently represents an addressable screening population of over 231 million people, with a combined value of US$12 billion.

The post Rhythm Biosciences (ASX:RHY) share price rockets amid US$12bn market opportunity 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 Bruce Jackson.

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