• Why Afterpay, Creso Pharma, Healius, & Resonance Health shares are storming higher

    beat the share market

    In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.65% to 6,731.2 points.

    Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:

    Afterpay Ltd (ASX: APT)

    The Afterpay share price is up 2% to $97.59. Investors have been buying Afterpay and other tech shares after a positive night of trade on the Nasdaq index. The tech-focused index outperformed the Dow Jones and S&P 500 with a 0.5% gain. This has led to the S&P/ASX All Technology Index (ASX: XTX) climbing 1.1% higher this morning.

    Creso Pharma Ltd (ASX: CPH)

    The Creso Pharma share price has continued its meteoric rise and is up 53% to 36 cents. Investors have been buying Creso Pharma’s shares since the UN announced a landmark decision to reclassify cannabis as a less dangerous drug and the US House of Representatives voted to decriminalise cannabis. This morning it announced plans to expand into Canada’s largest recreational market.

    Healius Ltd (ASX: HLS)

    The Healius share price is up 5% to $3.81. The catalyst for this has been the release of a strong trading update and the announcement of a $200 million on-market share buyback. The healthcare company also revealed that it has revised its dividend payout ratio to a target of 50% to 70% of reported net profit after tax.

    Resonance Health Limited (ASX: RHT)

    The Resonance Health share price has rocketed 51.5% higher to 23.5 cents. Investors have been fighting to get hold of the medical imaging company’s shares after the US FDA approved its HepaFat-AI product. HepaFat-AI is a medical software that is fully automated and uses artificial intelligence to assess liver fat through the analysis of MRI datasets. This provides doctors with a comprehensive, multi-metric tool for use in the assessment of fatty liver.

    This Tiny ASX Stock Could Be the Next Afterpay

    One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

    Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

    Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

    Returns as of 6th October 2020

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    James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Resonance Health Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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  • S&P Global set to launch world’s first cryptocurrency index

    big orange cryptocurrency bitcoin being held up by hand

    Most investors are probably familiar with the concept of an index. It’s what we use to measure the overall performance of the share market at any given time or day (or year for that matter). An index serves as a very useful barometer on how the broader market is performing and moving.

    That’s why the first financial statistics you’re likely to see on an Aussie news bulletin’s business report each night usually relate to the S&P/ASX 200 Index (ASX: XJO) or the All Ordinaries Index (ASX: XAO). In the case of the ASX 200, this index measures the performance of the largest 200 companies on the ASX, weighted to market capitalisation. With the All Ords, it’s the largest 500 companies.

    Over in the United States, it’s a similar story with the Dow Jones Industrial Average Index (DJX: .DJI), S&P 500 Index (SP: .INX) and Nasdaq Composite (NASDAQ: .IXIC). The Dow measures the performance of 30 individually selected shares on the US markets. The S&P 500 is more similar to our All Ords in that it measures the performance of most of the 500 largest companies listed on US markets. The Nasdaq is a little different in that it only includes companies that list on a certain exchange (the Nasdaq), but works in a similar manner to the S&P 500 in terms of weightings and so on.

    But indexes don’t just measure shares (albeit stock indexes remain the most popular indexes to track). There are indexes for almost anything you can think of. For example, the Bloomberg AusBond Composite Index tracks a basket of bonds issued by the Australian Government. The S&P GSCI Crude Oil Index tracks the price of crude oil. You get the idea.

    But a new type of index is set to be joining this throng, if reporting from Reuters is to be believed.

    Bitcoin set to be indexed

    Reuters reports that S&P Global Inc (NYSE: SPGI), the company behind the ‘S&P Indexes’, is set to launch a cryptocurrency index for the first time ever. 2021 will reportedly see the launch of this new index, which looks set to track “more than 550 of the top traded coins”. This will likely include the cryptocurrency posterchild Bitcoin. But it will also probably include popular ‘altcoins’ like Ethereum, Ripple, Litecoin and Bitcoin Cash.

    S&P Global is apparently working with a New York-based virtual currency company – Lukka – in this endeavour. The two companies issued a joint statement on the matter, which stated the following:

    S&P’s clients will be able to work with the index provider to create customized indices and other benchmarking tools on cryptocurrencies… S&P and Lukka hope more reliable pricing data will make it easier for investors to access the new asset class, and reduce some of the risks of the very volatile and speculative market.

    Reuters also quotes Peter Roffman, the global head of innovation and strategy at S&P Dow Jones Indices as saying:

    With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks.

    Bitcoin has been generating headlines again this year due to massive price appreciation. Over the past year, bitcoin has increased by more than 150% in US dollar terms.

    Where to invest $1,000 right now

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    Motley Fool contributor Sebastian Bowen 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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  • IGO (ASX:IGO) enters lithium market, shares on trading halt

    two miners on site shaking hands representing bhp share price

    Mining company IGO Ltd (ASX: IGO) announced this morning that it has entered into a binding agreement with Chinese company Tianqi Lithium Corporation, to acquire a 49% stake in Tianqi’s Australian lithium mining business for $1.9 billion.

    Before market open this morning, IGO asked the ASX to temporarily halt trading of its shares, pending the release of an announcement about the accelerated entitlement offer related to the acquisition today.

    The trading halt will last until Friday 11 November 2020, unless revised otherwise.

    The IGO share price closed yesterday at $5.095.

    First foray into the lithium market for IGO

    Today’s acquisition will effectively provide IGO with a 24.99% indirect interest in Greenbushes Lithium Mining and Processing Operation, and a 49% indirect interest in the Kwinana Lithium Hydroxide Plant – both located in Western Australia.

    This marks IGO’s first first foray into the lithium market, which analysts believe will boom in the coming years along with the popularity of electric vehicles.

    IGO intends to fund the deal through a combination of $1.1 billion of new debt facilities, an equity raising of up to $766 million, and existing cash reserves of between $85 million and $149 million.

    The company said that both Greenbushes and Kwinana were world-class assets with attractive growth profiles that together provided the platform for building a global lithium business. 

    IGO managing director and chief executive, Peter Bradford, said the deal was consistent with IGO’s strategy to become a global leader in clean energy:

    This is a genuinely transformational transaction for IGO, and one that delivers on our strategy to become a global leader in the supply of metals critical for enabling a clean energy future.

    We see Tianqi, a leader in the global lithium industry and with strong alignment to our strategy, as the ideal partner for IGO.

    How has IGO performed recently

    The mining company has delivered record profits for the last two consecutive years.

    In FY19, the company delivered a net profit after tax (NPAT) of $76 million, a record profit for the company at the time. That was followed by another record NPAT of $155 million in FY20.

    In September, investors were excited with news that IGO was considering to offload its $1 billion stake in the AngloGold Ashanti’s Tropicana gold mine. That plan is still on the table, as the company pivots its focus to the clean energy business.

    About the IGO share price

    The IGO share price has lost 15% of its value in 2020. The current share price is still a long way from its 52-week high of $7.11. The company commands a market cap of $3 billion.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Motley Fool contributor Eddy Sunarto 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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  • Why the MSM (ASX:MSM) share price has gone gangbusters again

    woman throwing arms up in celebration whilst looking at asx share price rise on laptop computer

    The MSM Corporation International Ltd (ASX: MSM) share price is rocketing higher today. This comes after the company announced strong customer uptake to the launch of the newly released Zombie Rollerz: Pinball Heroes on Apple Arcade.

    At the time of writing, the MSM share price is up by 8.6% to 5 cents per share. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.6% to 6,962 points.

    Stardom launch

    The company has been in the spotlight with investors, with the MSM share price soaring 20% in the last 2 days alone.

    According to the release, MSM advised that Zombie Rollerz: Pinball Heroes has generated a lot of interest. The game, co-developed by Zing Games and MSM’s strategic partner, Firefly Games Inc. was launched globally 3 days ago.

    Since then, statistics gathered from Apple (NASDAQ: AAPL) have recorded 30 million impressions, over 325,000 page views, and first day retention at 45%. Management stated that the result has far exceeded its expectations.

    Last month, MSM acquired a 10% stake in Riva Technology and Entertainment Limited (RTE) group. RTE is the majority shareholder in another company that is the sole owner of Firefly Games. Through this investment, MSM has a priority right to be paid in profits or distributions received by RTE, including gaming revenues.

    Management commentary

    MSM chair Mr Antoine Massad commented on the strong rollout of Zombie Rollerz:

    For Zombie Rollerz to be featured as Game of the Day on the Apple Arcade App Store is a fantastic achievement given that it is a game developed entirely during the COVID-19 pandemic.

    It is a credit to all involved and reiterates the benefit of our strategic relationship with RTE as they seek to maximise user engagement and monetisation opportunities in the rapidly evolving gaming industry.

    MSM share price summary

    The MSM share price has been on fire lately, with shareholders seeing gains of more than 20% during the week. While its shares were most stagnant from July, recent tailwinds have created investor hype.

    Today’s share price increase represents a 1000% return for patient shareholders who kept their holdings since March.

    Where to invest $1,000 right now

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    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Motley Fool contributor Aaron Teboneras 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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  • Etherstack (ASX:ESK) share price falls despite solid guidance

    asx share price fall represented by man shrugging in disbelief

    The Etherstack PLC (ASX: ESK) share price is down nearly 3% in early morning trading, despite the company releasing a business update advising it expects FY21 results to significantly outperform FY2020. 

    At the time of writing, the Etherstack share price is trading at 68 cents, down 2 cents from yesterday’s closing price.

    Major contract wins in 2020

    The wireless communications provider says it has had significant success winning major client contracts in 2020.

    Three major contracts were won this year, including the delivery of its first major digital radio network to the Royal Canadian Mounted Police.

    The company also entered into a Global Teaming Agreement with Samsung Electronics, and signed a $4.1 million deal with the Australian Department of Defence. 

    Furthermore, Etherstack reported that its recurring revenue will continue to grow, driven by both long-term support contracts and royalty payments derived from technology licensing. 

    The company also advised that, due to continued reduction in long-term debt through repayments and convertible note conversions, it has significantly reduced interest costs this year.  

    Quick take on Etherstack

    Etherstack develops and licenses wireless technologies to other equipment vendors, as well as designs, manufactures and delivers its own innovative digital radio products.

    The company was founded and is based in Sydney, but is twice as large offshore than onshore. It first listed on the ASX in 2012.

    Etherstack has a global footprint, having won major contracts overseas including direct engagements with multiple NATO member governments. 

    The company’s business is highly leveraged to government and infrastructure spend, which flows to areas such as public safety, utilities, defence and resource projects.

    About the Etherstack share price

    The Etherstack share price has been volatile over the past year. It reached an all-time high of $3.70 in July 2020, while its 52-week low of 12 cents occurred only around six weeks earlier.

    The $3.70 price level was achieved after the company announced the contract with Samsung.

    The Etherstack share price has gained 240% in 2020 and, at its current levels, the company’s market capitalisation stands around $84 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Motley Fool contributor Eddy Sunarto 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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  • Qantas faces union in court over 2,000 sackings

    Travel bags sit by an airport lounge window overlooking a grounded plane on the tarmac

    The Transport Workers’ Union (TWU) will take Qantas Airways Limited (ASX: QAN) to court over its decision to sack 2,000 workers.

    The airline told the ground-handling staff at the end of last month that their jobs would be terminated to be replaced by outsourced services.

    While the union had a chance to put in a bid to compete against the outsourcers, Qantas went with the latter to save $100 million a year.

    Principal for law firm Maurice Blackburn, Josh Bornstein, said the legal challenge would “put outsourcing on trial” and could have far-reaching consequences.

    “If Qantas can replace thousands of its employees with cheaper, insecure labour hire employees then this can happen to any other employee in any Australian workplace.”

    The Motley Fool understands the airline will be using specialist ground services providers rather than generic “labour hire”.

    “We recognise that this is a difficult decision which impacts a lot of our people but outsourcing this work to specialist ground handlers who already do this work for us in other cities across the country is not unlawful,” a Qantas spokesperson told The Motley Fool. 

    According to Bornstein, who is acting for the union in the case, Fair Work Act dictates a company can’t fire employees because they’re entitled to collectively bargained conditions.

    “By outsourcing this work, Qantas is seeking to avoid collective bargaining under the Fair Work Act,” he said.

    “If the outsourcing proceeds, Qantas will no longer have to negotiate with the workers who perform the work. Instead Qantas will be able to unilaterally impose a price for the services of outsourced workers, and those outsourced workers will not be allowed to bargain with Qantas under current [industrial relations] laws.”

    The company is already using outsourced ground-handling services in 55 smaller airports across the country. The economics works out better when the cost for such staff are shared across several airlines. 

    COVID-19 forced job cuts, says Qantas

    Qantas has so far cut 8,500 employees out of what was formerly a 29,000-strong workforce prior the COVID-19 pandemic.

    “Unfortunately, COVID has turned aviation upside down. Airlines around the world are having to make dramatic decisions in order to survive and the damage will take years to repair,” said Qantas domestic and international chief Andrew David last month.

    He had also publicly criticised TWU’s bid submitted to the outsourcing review.

    “The TWU’s in-house bid claimed that significant savings could be made but it failed to outline sufficient practical detail on how this might be achieved, despite us requesting this information multiple times throughout the process,” David said. 

    “Even with the involvement of a large accounting firm, the bid falls well short of what the specialist external providers were able to come up with.”

    Bornstein said the pandemic had especially accentuated the vulnerability of insecure staffing on casual or outsourced contracts.

    “They aren’t paid properly, they work in unsafe conditions and they are forced to scrounge a living working at multiple jobs. Qantas has decided to pour petrol onto that fire.”

    He added the only stakeholders to benefit from the sackings are “big shareholders and Qantas executives”.

    “This decision is bad for workers, customers and the Australian economy. More low wage, insecure jobs means less spending and more damage to a fragile economy.”

    These 3 stocks could be the next big movers in 2020

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    Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited. 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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  • Why the Fortescue (ASX:FMG) share price hit a record high today

    Chalk-drawn rocket shown blasting off into space

    The Fortescue Metals Group Limited (ASX: FMG) share price is climbing higher again on Wednesday.

    In morning trade the iron ore producer’s shares climbed 1.5% to a new record high of $21.81.

    Why is the Fortescue share price climbing higher?

    Investors have been buying Fortescue’s shares this morning following the release of a positive announcement.

    According to the release, the company has achieved a significant milestone in the development of its iron ore operations in the Pilbara. Today it is celebrating the first ore through the ore processing facility at the Eliwana mine and rail project in the Western Hub.

    Fortescue’s Chief Executive Officer, Ms Elizabeth Gaines, believes Eliwana as important step forward for the company.

    She commented: “Eliwana is the next important stage of development of Fortescue’s world-class, integrated operations. Exploration commenced in this area in 2006, and we have now delivered a new 30 million tonne per annum dry ore processing facility and infrastructure, along with 143 kilometres of rail which is in the final stages of construction.”

    “Eliwana will see us maintain our low-cost status and provide us with greater flexibility across our product mix. Construction of the mine, village and infrastructure was completed safely over a 12-month period, in line with budget and schedule,” Ms Gaines added.

    Diverse workforce.

    The company rightfully believes a diverse workforce is integral to the company’s success.

    Pleasingly, Fortescue continues to provide training and employment opportunities for Aboriginal people, who represent 14% of the Eliwana operations workforce.

    In addition to this, the company notes that 23% of its Eliwana operations team are women. This is contributing to its commitment to increase gender diversity across all operations.

    What’s the latest on the iron ore price?

    The good news for Fortescue and its shareholders is that the iron ore price is still trading at sky high levels.

    According to CommSec, the spot iron ore price was fetching US$149.95 a tonne overnight, a further increase of 1.6%.

    This compares incredibly favourably to Fortescue’s C1 costs guidance of US$13.00 to US$13.50 per wet metric tonne in FY 2021.

    This Tiny ASX Stock Could Be the Next Afterpay

    One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

    Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

    Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

    Returns as of 6th October 2020

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    Motley Fool contributor James Mickleboro 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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  • Why the Emerge Gaming (ASX:EM1) share price crashed 50% lower today

    Scared young male investor holds hand to forehead and looks at phone in front of yellow background

    The Emerge Gaming Limited (ASX: EM1) share price has returned from its lengthy suspension and crashed lower on Wednesday.

    In morning trade the eSports and gaming technology company’s shares sank as much as 50% to 5.2 cents.

    At the time of writing, the Emerge Gaming share price is down 41% to 6 cents.

    This is also down 65% from its peak of 17 cents in October.

    Why is the Emerge Gaming share price crashing lower?

    After the market close on Tuesday, Emerge Gaming released an update on the registrations for its MIGGSTER social gaming platform.

    In October the company claimed to have over 6 million pre-registrations for the platform, which costs $12 a month or $113 a year for a subscription.

    This caught the eye of both investors and stock exchange operator ASX Ltd (ASX: ASX).

    The latter appeared concerned by these numbers and over the last few weeks has sent a series of queries to Emerge Gaming.

    With the platform now live, the company has been able to reveal just how many of these 6 million pre-registrations have actually signed up.

    How many subscriptions has Emerge Gaming achieved?

    According to its update, Emerge Gaming has sold a total of 25,674 subscription as of 7 December.

    This comprises 20,615 annual packages, 1,662 six-month packages, and 3,397 monthly packages. A quick calculation shows this to be worth approximately $2.5 million in revenue. Though, this doesn’t include any potential revenue sharing with its partners.

    Despite so far only converting 0.43% of its pre-registrations, management remains upbeat on its subscriptions.

    It commented: “MIGGSTER subscriptions continue to show encouraging growth and Emerge will continue to provide the market with material updates as they transpire.”

    However, judging by the Emerge Gaming share price performance on Wednesday, it doesn’t appear as though investors are as optimistic as they are.

    This Tiny ASX Stock Could Be the Next Afterpay

    One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

    Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

    Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

    Returns as of 6th October 2020

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    Motley Fool contributor James Mickleboro 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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  • Why the Tali Digital (ASX:TD1) share price is surging again today

    Child holding cash and scratching head

    The Tali Digital Ltd (ASX: TD1) share price jumped 45% higher to 5.4 cents yesterday after the company announced it inked an investment and advertising agreement with Brand Capital International (BCI) and The Times Group of India.

    Today, the Tali Digital share price continues its upward surge following the company’s announcement of its first Japanese patent by the Japan Patent Office (JPO). At the time of writing, Tali Digital shares have increased another 3.7% to 5.6 cents.

    What is Tali Digital? 

    Tali Digital is a micro cap medical technology company, focused on the development of game-based training programs to assess and treat childhood attention difficulties. Its programs have been proven through scientifically validated clinical trials to improve attention capabilities by strengthening underlying attentional processes. 

    The company has achieved a number of significant milestones including the commercial roll out of its ‘Tali Detect’ and ‘Tali Train’ products, regulatory clearance in the United States and European Union, and app store release in India. 

    The Tali share price has almost doubled in the last two weeks from 3 cents to its current level of 5.6 cents. This follows the company’s positive market updates and a significant increase in trading volumes for its shares. 

    What’s moving the Tali share price again today?

    Tali shares are on the move again after the company reported the Japanese patent covers its Tali Detect and Tali Train products as well as its soon to be released Tali maintenance program. 

    Japan is the world’s third-largest market for ADHD treatments and is growing at more than 20% annually. ADHD is a major issue among the Japanese population of 15 million children under 15 years.

    According to Tali, this is the first time a patent has been granted in Japan for a cognitive assessment and training system, capable of improving attentional skills for sustained periods. 

    Tali sees favourable Japanese market dynamics where non-pharmaceutical based approaches are the preference in ADHD treatment. A CCHR report, ‘ADHD labelling and treatment of Children in Japan’ highlights that treatment with medication for ADHD is less favourable than psychological treatment. The report goes on to recommend “that psychotropic drugs are prescribed as a measure of last resort and only after an individualised assessment of the best interests of the child”. 

    Tali sees the granting of the Japanese patent as a significant opportunity and potential market advantage for its digital therapeutics. Tali Digital Managing Director Glenn Smith said:

    The granting of the patent secures Tali’s intellectual property position and paves the way for the Company to enter the Japanese market via a partnership model. With over 15 million children in Japan, under the age of 15 years, the country represents a large potential market for the range of Tali cognitive assessment tools. The ability to leverage our patents strengthens our software in multiple regions and highlights the global opportunity of our product suite.

    This Tiny ASX Stock Could Be the Next Afterpay

    One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…

    Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.

    Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

    Returns as of 6th October 2020

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    Motley Fool contributor Lina Lim 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 Telix (ASX:TLX) share price is on the move today. Here’s why.

    close up of man's eye looking through magnifying glass representing asx 200 share price on watch

    The Telix Pharmaceuticals Ltd (ASX: TLX) share price is trading lower at open today, despite a positive development in its lead drug candidate. Telix announced that the United States Food and Drug Administration (FDA) will begin reviewing its new drug application (NDA) for TLX591-CDx.

    At the time of writing, the Telix share price has dipped 0.8% to $3.72.

    FDA progress

    Telix advised the market today that the US FDA has deemed that the company’s NDA for TLX591-CDx is sufficient, and will begin a formal review.

    During the standard review process, the FDA will conduct a mid-cycle review meeting date with Telix. This engagement seeks to discuss the status of the drug, key findings, and any issues that are identified. Telix revealed that the meeting will take place on 16 February 2021.

    In addition, a label review date with the FDA will follow, with the date set on 30 May 2021. In the meeting, a team of technical experts will look to verify that the correct labelling meets FDA regulations.

    Telix also said the FDA has provided intermediate milestones for the review process, and that no major issues have been found so far. In light of this, the FDA does not plan to hold an advisory committee meeting to discuss the application.

    While Telix progresses with the FDA, the company is also focusing its efforts in the European Union, Canada and Australia. Telix advised it is moving along with its marketing authorisation application which has been submitted to authorities.

    What did management say?

    Telix CEO Dr Christian Behrenbruch welcomed the progress, saying:

    With proximal review timelines for our NDA submission and considering the recent limited approval of Ga-PSMA for both imaging of high risk men prior to prostatectomy and biochemical recurrence, we feel our package is in a strong position to complete review in a timely fashion.

    Telix’s kit-based formulation of Ga-PSMA is a game changer in terms of delivering access to this important technology and we look forward to working with the FDA to conclude the technical and clinical review of our submission during 2021.

    About the Telix share price

    The Telix share price has been storming higher lately due to a raft of announcements from the company. In just over a month, its shares have lifted more than 70%.

    The Telix share price reached an all-time high of $4.33 this month, and finished the day yesterday at $3.75.

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    Motley Fool contributor Aaron Teboneras 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.

    The post The Telix (ASX:TLX) share price is on the move today. Here’s why. appeared first on The Motley Fool Australia.

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