The Star Entertainment Group Ltd (ASX: SGR) share price lifted marginally today at 4% as the casino operator provided an update on its properties reopening. The Star Sydney reopened on 1 June on a restricted basis. From 1 July, the Sydney premises will see further restrictions lifted with 3 July seeing The Star Gold Coast and Treasury Brisbane’s gaming facilities reopen.

Next stage of The Star Sydney reopening

Under the next stage of the reopening, The Star Sydney will be able to host up to 5,000 patrons. Providing a 1.5-metre distance between individuals, all electronic gaming machines and table games will become operational. Spatial distancing and capacity limits will likely constrain visitation and revenue during the peak times of Friday and Saturday nights.

The Star Sydney trading performance improved over June with average spend per visit materially higher than 1H FY20. Nonetheless, given operating restrictions, performance was significantly below normal levels.

Queensland reopenings

The Star Gold Coast and Treasury Brisbane’s main gaming floors and private gaming rooms will reopen on 3 July 2020.

The maximum gaming area patron number will be roughly 2,600 for The Star Gold Coast and 2,300 at Treasury Brisbane aligning with the 4 square metres per patron rule.

Casino operators hit hard by COVID-19

Both Star Entertainment Group and Crown Resorts Ltd (ASX: CWN) were ‘non-essential businesses’ and were forced to close during lockdown. Subject to strict capacity and distancing requirements, properties have gradually reopened. Crown recommenced operations of its Perth casino from 27 June as COVID-19 restrictions were eased in Western Australia.

The closures caused by the coronavirus crisis significantly impacted the casino operators’ share prices. Star Entertainment Group’s share price is 40% below its 2020 high with Crown 24% below its high.

From 1 July 2019 to 23 March 2020 when gaming and non-essential services ceased, Crown’s net profit after tax (NPAT) was $210 million. But both casino operators faced a precipitous drop in revenue during 4Q FY20 which will be reflected in its full-year results.

Foolish takeaway

The casinos resuming operations, even on a limited basis, will see shareholders relieved. Nonetheless, extended closures will have a significant impact on FY20 revenues and profits.

More reading

• ABS reveals which industries (and ASX shares) may rebound hard after COVID-19
• Share price winners and losers of the pandemic
• These 5 ASX shares saw the biggest losses last week
• Why Air NZ, Carsales, Pendal, & Star shares are dropping lower
• Next phase of bull market could see ANZ Bank outperform Afterpay

Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Westpac Banking Corp (ASX: WBC) share price has started financial year 2021 on a positive note and is pushing higher on Wednesday.

At the time of writing the banking giant’s shares are up 1% to $18.11.

Why is the Westpac share price pushing higher?

Investors have been buying Westpac’s shares after it was the subject of a positive broker note out of Goldman Sachs.

According to the note, the broker has upgraded the bank’s shares to a buy rating with a $20.13 price target.

This price target implies potential upside of 11.5% for its shares over next 12 months excluding dividends. This increases to almost 18% if you include the $1.12 per share fully franked dividend that Goldman Sachs expects the bank to pay in FY 2021.

Why did Goldman Sachs upgrade Westpac’s shares?

Goldman has been looking at the loan deferrals which were introduced by the banks at the height of the pandemic. They were put in place to support homeowners and businesses during the crisis.

The majority of these deferrals were made for three months, with an option to extend them for a further three months.

Given how there are $236 billion of loans on repayment deferrals (8% of total credit), the performance of these loans will have a big say on sector earnings, capital requirements, and ultimately the share prices of the big four banks over the next 12 months.

The good news is that Goldman Sachs has been doing some bottom up analysis and believes the provisioning done by the banks could be adequate. This is particularly the case with Westpac, which it feels is best placed to deal with the end of the deferral period.

Goldman explained: “While the nature of the analysis, particularly in relation to SME deferrals, makes stock-based conclusions difficult to reach, with a relatively conservative mortgage LVR profile, and lower estimated number of SME loans on deferral (c.17% of total major bank SME deferrals), we think WBC looks relatively well-placed to deal with the end of the deferral period.”

“Coupled with the fact that: i) it should be exposed to improving industry NIM trends, and ii) it is trading ~2/3 standard deviations cheap vs. peers on EPS/PPOP multiples respectively, we upgrade it to Buy,” the broker added.

Should you invest?

I agree with Goldman Sachs and would be a buyer of Westpac’s shares at the current level. Especially if I were an income investor. The broker’s forecast $1.12 per share FY 2021 dividend represents a very attractive fully franked 6.2% yield.

More reading

• ASX 200 up 0.9%: Big four banks rising, NEXTDC rockets higher
• 5 things to watch on the ASX 200 on Wednesday
• Morgans picks the best FY21 ASX buys for the COVID-19 world
• ASX bank shares have experienced a horrible financial year
• ASX 200 up 1.2%: Big four banks rebound, WiseTech CEO dumps shares, Collins Foods impresses

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Despite being down 21.1% in the March quarter, some of the companies within the Deloitte Australian CleanTech Index – which comprises 92 ASX cleantech shares across 5 sub-sectors – now look primed to rebound from the pandemic-induced disruption.

Here are 3 ASX cleantech large-cap shares that have been regaining lost ground since the share market sell-off in late February.

Reece Ltd (ASX: REH)

The share price of this plumbing and bathroom product supplier across Australia, NZ and the US dropped from a high of $11.90 on 21 February to a 23 March low of $7.87. The Reece share price has since bounced back up to $9.10.

Given the fundamentals on this stock have not changed, I believe it’s well placed to benefit from both measures to reignite the Australian economy, including the federal government’s $688 million HomeBuilder/renovation scheme, and future growth in its recently acquired US plumbing distribution business, Morsco Inc.

As a vote of confidence in the stock, Reece recently tapped the market in a $600 million capital raise, plus an attractively priced retail entitlement offer, which will increase liquidity, reduce net debt and help capitalise on new opportunities, which may include further acquisitions in the US. The company indicated the measures would increase its total liquidity position to $917 million.

While it’s unlikely, the $917 million Reece now has available could be drawn on if future outbreaks of coronavirus forces shutdowns of its Australian and US outlets, which (unlike NZ) have managed to stay open given their classification as essential services. These funds also position Reece to ride out any entrenched downturn locally, or if the US downturn ends up being a more protracted affair.

I think the stock’s clear market dominance remains a major plus going forward, with future upside coming from further expansion into the US, and ongoing technology investment. The stock trades on a forward price-to-earnings (P/E) ratio of 25x. In my opinion, a share price sub-$9.25 makes for a reasonable entry point for long-term investors.

Cleanaway Waste Management Ltd (ASX: CWY)

As a provider of waste management services, Cleanaway has performed well throughout the coronavirus crisis. Due to Cleanaway’s defensive core earnings stream, the share price (which is currently 13% down on its 52-week high of $2.53) managed to avoid the brunt of the sell-off experienced by the market at large.

With municipal waste management representing up to 55% of total earnings before interest, tax, depreciation and amortisation (EBITDA), Cleanaway looks well placed to handle its debt position, in my view. I think the stock looks equally well placed to capitalise on Australia’s desire to become increasingly waste self-sufficient.

With its Footprint 2025 strategy seeing the company investing in a sustainable value chain, Cleanaway also appears to be well positioned to make further forays into recycling and alternative waste processing. I think this will help to consolidate the company’s market dominance and this bodes well for improved margin growth. In my opinion, a share price of under $2.00 would make for a buying opportunity.

Bingo Industries Ltd (ASX: BIN)

Like Cleanaway, Bingo’s strong fundamentals in recycling and waste management solutions positioned it well to ride out the worst of the COVID-19 downturn and emerge remarkably unscathed. Bingo shares were heavily sold-off along with the broader market, going from a high of $3.20 on 19 February to a low of $1.82 virtually a month later. However, it has since bounced to $2.19, which puts it on a 10% discount to Morningstar’s fair value of $2.45.

I’m particularly impressed by Bingo’s financial performance in Q3 FY20, which (unlike so many shares) is on track to deliver its stated market guidance, pre-COVID-19. Bingo’s cash preservation focus and strong balance sheet means it’s well positioned to capitalise on the closure of any of its smaller unlisted competitors, which may have limited access to the capital needed to successfully weather the pandemic.

In addition, the recent approval to increase its total landfill limit from 700,000 tonnes to 1 million tonnes annually allows it to increase its operating hours, which signals a major revenue opportunity for Bingo going forward.

More reading

• Can you clean up by investing in ASX waste management shares for the long-term?
• Why I’m desperate to add CSL and 2 other ASX shares to my portfolio in 2020
• Top fund manager reveals some of the best ASX shares to own
• Can this ASX dividend share afford its 11% yield?
• EML Payments and these ASX mid cap shares could be destined for big things

Motley Fool contributor Mark Story has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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So, you have some spare cash available to spend on ASX shares right now? Great!

Here are 2 which I think are worth considering: Bubs Australia (ASX: BUB) and Cochlear Limited (ASX: COH). Both are top-quality companies with compelling business models and entrenched market positions in their respective industry niches. I am also confident that both companies have strong growth potential over the next 5–10 years.

Bubs

Bubs is an Australian based producer of goat milk products. It has successfully built a portfolio of premium, high-margin brands. Bubs concentrate on infant formula products, but its product range also spans across organic baby food, cereals and toddler snacks, as well as adult goat dairy products.

This ASX share has already established an entrenched market position in the Australian market. Bubs is Australia’s only vertically integrated producer of goat milk formula. It holds an exclusive milk goat supply agreement with the largest goat herd in Australia.

Bubs have seen recent strong growth due to rising demand for its goat milk products. There has been a growing consumer trend towards alternative baby nutrition options, particularly goat milk which is easier for children to digest. Goat’s milk also has a higher calcium content and is less likely to result in skin and gut reactions. This results in better absorption of the milk’s nutrients, especially for babies.

Recent revenue growth for Bubs has been very strong. In Q3 FY20 to 31 March 2020, Bubs delivered a 67% increase in revenue to $19.7 million compared to the prior corresponding period.

Bubs is now targeting growth in the Asian market and already that strategy is starting to bear fruit. Chinese revenue soared 104% higher in the third quarter.

Cochlear

Another ASX share that I think is worthy of adding to your share portfolio is Cochlear.

Cochlear is a global manufacturer and distributor of cochlear implantable devices for the hearing impaired. Despite operating in a very small niche in the healthcare market, Cochlear has raised its profile over the last 2 decades to become an Australian household name.

Cochlear has been impacted by the coronavirus crisis due to a reduction in elective surgeries. In particular, Cochlear has suffered a significant decline in Cochlear implant surgeries in the US and Western Europe.

However, I believe the long term future for Cochlear remains very positive. As the proportion of the global population over 65 continues to grow, the demand for hearing products and solutions continues to rise. This demand is set to continue for the next few decades.

More reading

• Why I’d buy and hold a2 Milk shares until 2025
• Top ASX Stock Picks for July 2020
• My ASX share for the week
• Do you have $1k to invest? Buy 1 of these ASX shares
• Are you in your 20s? Here’s why I would buy these quality ASX shares

Phil Harpur owns shares of Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO and Cochlear Ltd. The Motley Fool Australia has recommended BUBS AUST FPO and Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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You may be aware of the WAAAX tech consortium, which includes well-known ASX tech companies such as Afterpay Ltd (ASX: APT), Xero Limited (ASX: XRO), and Appen Ltd (ASX: APX). However, what you may not be aware of is that there’s an exciting range of other emerging ASX tech shares.

Here are 2 of my top picks in this category: Bigtincan Holdings Ltd (ASX: BTH) and Dicker Data Ltd (ASX: DDR). I am confident that both have exciting long-term growth prospects.

Bigtincan

Bigtincan’s platform enables organisations to access, collaborate on content, and improve customer engagement. It operates in a fast-growing IT software niche commonly referred to as ‘sales enablement’.

The company operates under the software-as-a-service (SaaS) business model. Bigtincan is, therefore, a capital-light, scalable and highly-efficient business through its subscription-type model. It also benefits from high customer retention rates.

For 1H FY 2020, Bigtincan posted annualised recurring revenue (ARR) of $32.4 million. This was a very strong 55% increase on the prior corresponding period. This ASX tech share continues to win new deals and expanded its customer base.

Bigtincan was only listed on the ASX in 2017 and is yet to become profitable. So it, therefore, could potentially be viewed as a risky type of share investment, compared to more established technology companies listed on the ASX, such as Carsales.Com Ltd (ASX: CAR) and REA Group Limited (ASX: REA). It will need to keep its operating costs under control and maintain its high customer retention rate moving forward.

However, I am confident that the long-term future shines bright for Bigtincan. It currently appears to be on track to reach the breakeven point as it gains further scale. This hopefully will then lead to growing profitability in the years ahead.

Dicker Data

Another ASX tech share that I would consider adding to your ASX share portfolio is Dicker Data. This IT company is a wholesale distributor of computer hardware, software and cloud-based solutions. In addition, it’s the largest Australian-owned hardware distributor in the Australia and New Zealand markets.

Dicker Data has transformed and evolved its business over the past 40 years. It started out as just a family-run business and now is a corporation with a market capitalisation of around $1.2 billion today.

Dicker Data recorded its highest-ever revenue month to date in March. Its FY 2020 first-quarter net profit before tax (NPAT) increased by 36.3% to $18.4 million. The trend of working from home during the coronavirus pandemic has also benefitted the company. 

I believe that Dicker Data is well placed to capitalise on the growing demand for IT services connected with cloud computing over the next decade.

Dicker Data also currently pays a forward fully franked dividend yield of around 4.36% at the time of writing.

More reading

• Millionaire maker increases share price 28 times in FY20
• Are Newcrest shares set to take off in FY21?
• ASX 200 stocks to watch for FY2021
• These were the best performing ASX 200 shares in FY 2020
• Afterpay and these shares were the best performers on the ASX 200 in June

Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BIGTINCAN FPO and Xero. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia has recommended BIGTINCAN FPO, carsales.com Limited, and REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to start the new financial year on a positive note. At the time of writing the benchmark index is up 0.9% to 5,949.1 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:

The Avita Medical Ltd (ASX: AVH) share price is down 2% to $8.82. This follows its debut on the Nasdaq index overnight after successfully redomiciling. Avita is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications.

The Brickworks Limited (ASX: BKW) share price is down 2% to $15.52. This decline may be the result of a spot of profit taking after the company’s shares surged notably higher on Tuesday. Investors were buying Brickworks’ shares after its joint venture with Goodman Group (ASX: GMG) signed a 20-year agreement with ecommerce giant Amazon.

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is down 3.5% to $31.73. Investors may be taking a bit of profit off the table after some very strong gains over the last 12 months. In fact, the medical device company was among the best performers on the index during the 2019-20 financial year with a gain of more than 100%.

The WiseTech Global Ltd (ASX: WTC) share price has continued its slide and is down a further 4% to $18.55. Investors have been selling the logistics solutions company’s shares over the last couple of days after it revealed heavy insider selling. According to the notice, over the past few trading days its founder and CEO, Richard White, has sold almost $46 million worth of shares. The chief executive has not provided an explanation for the sales. Though, it is worth noting that Mr White does still own approximately 151 million WiseTech shares.

More reading

• These were the best performing ASX 200 shares in FY 2020
• Afterpay and these shares were the best performers on the ASX 200 in June
• ASX stock of the day: Avita Therapeutics share price climbs 8.4% as company redomiciles
• Leading brokers name 3 ASX 200 shares to sell today
• Why James Hardie and its peers are surging higher today

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 Avita Medical Limited. The Motley Fool Australia owns shares of and has recommended Brickworks. The Motley Fool Australia owns shares of WiseTech Global. The Motley Fool Australia has recommended Avita Medical Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to start the financial year in a very positive fashion. The benchmark index is currently up 0.9% to 5,949.5 points.

Here’s what has been happening on the market today:

Big four banks push higher.

The big four banks have started the financial year strongly and are all on course to record gains. One of the best performers in the group has been the Westpac Banking Corp (ASX: WBC) share price. Its shares are up 1.2% at the time of writing. This appears to have been driven by a positive broker note out of Westpac. Its analysts have upgraded the banking giant’s shares to a buy rating with a $20.13 price target.

Suncorp announces new operating model.

The Suncorp Group Ltd (ASX: SUN) share price has dropped lower after announcing a new operating model and leadership structure. It believes these changes will drive further improvements in its core insurance and banking businesses. It also expects the initiatives to accelerate its digital and data driven transformation. It appears as though investors have given the changes a lukewarm response.

NEXTDC announces new contract wins.

The NEXTDC Ltd (ASX: NXT) share price is surging higher today after announcing major new contract wins for its New South Wales data centres. NEXTDC’s contracted commitments at its New South Wales facilities have now increased by approximately 4MW, to more than 36MW. This has the potential to increase further in the future, with expansion options potentially lifting its contracted commitments to 60MW. In light of this, NEXTDC has committed to completing the Sydney-2 centre fit-out to a total planned capacity of 30MW.

Best and worst ASX 200 shares.

The best performer on the ASX 200 on Wednesday has been the NEXTDC share price with a gain of 8.5%. This follows its announcement of new contract wins. The worst performer on the index has been the Ampol Limited (ASX: ALD) share price with a decline of 3%. This is despite there being no news out of the fuel retailer previously known as Caltex.

More reading

• Why Polynovo and JB Hi-Fi shares outperformed in FY20
• Why Alterity Therapeutics, Flight Centre, NEXTDC, & Telix are surging higher
• Are Newcrest shares set to take off in FY21?
• Suncorp share price edges higher after announcing its new operating model
• Why I’d buy and hold a2 Milk shares until 2025

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and Westpac Banking. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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It’s fair to say that investors in Polynovo Ltd (ASX: PNV) and JB Hi-Fi Limited (ASX: JBH) shares enjoyed a bumper last 12 months.

For the financial year ending 30 June 2020 (FY20), both Polynovo and JB Hi-Fi shares rocketed around 63.9% higher.

That’s good news for shareholders given the benchmark S&P/ASX 200 Index (INDEXASX: XJO) slumped 11.4% lower in FY20.

So, what have been the major growth factors for the Aussie biotech company and retailer, and is there more in store for FY21?

Why Polynovo and JB Hi-Fi shares rocketed higher in FY20

Let’s start with Polynovo before looking at why JB Hi-Fi shares surged higher. The Polynovo share price had another bumper 12 months and is up 2,479% in the last 5 years.

One factor that’s fuelling the Aussie biotech company higher is strong sales growth from its NovoSorb Biodegradable Temporising Matrix (BTM) product. 

PolyNovo posted record US quarterly sales of $4.49 million for the March quarter despite the coronavirus pandemic outbreak. For context, that figure was 166% higher than Polynovo’s March 2019 quarter sales of $1.69 million.

The strong start to the year came after Polynovo posted $2 million worth of monthly NovoSorb BTM sales for the first time in December 2019, up 134% compared to December 2018 levels.

However, JB Hi-Fi shares also enjoyed a successful year on the markets. Unlike Polynovo, much of that growth has actually come in the first half of 2020.

Much of the JB Hi-Fi share gains this year have actually been due to the pandemic. Many Aussies were forced to work from home from March onwards which saw the retailer’s electronics sales surge higher.

People flocked to the retailer to secure laptops, monitors and other accessories in preparation for the shift in working arrangements. This boosted JB Hi-Fi Australia sales by 11.6% in 3Q FY20 while The Good Guys sales climbed by 13.9% year-on-year.

Foolish takeaway

Clearly, both of these ASX 200 shares have performed well in the last 12 months on the back of strong sales. While the demand drivers are quite different, a strong growth trajectory could leave both Polynovo and JB Hi-Fi shares well-positioned for the next 6-12 months.

More reading

• Are Newcrest shares set to take off in FY21?
• Why I’d buy and hold a2 Milk shares until 2025
• 3 ASX ETFs to hedge your portfolio
• ASX 200 stocks to watch for FY2021
• These were the best performing ASX 200 shares in FY 2020

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Polynovo and JB Hi-Fi shares outperformed in FY20 appeared first on Motley Fool Australia.

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the new financial year with a solid gain. At the time of writing the benchmark index is up 0.65% to 5,936.2 points.

Four shares that have climbed more than most today are listed below. Here’s why they are surging higher:

The Alterity Therapeutics Ltd (ASX: ATH) share price has rocketed an incredible 1,841% to 33 cents. Investors have been scrambling to buy the biotech company’s shares after it revealed that its meeting with the U.S. FDA has provided it with a development pathway for its ATH434 candidate. ATH434 is the company’s lead compound for the treatment of Multiple System Atrophy (MSA), a Parkinsonian disorder.

The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 4.5% to $11.61. This morning the travel agent announced that it has secured access to a debt facility of up to 65 million pounds. These funds will be draw down if and when it is necessary to offset the coronavirus’ impact on its United Kingdom-based operations. The funding has been made available to the company via the Bank of England’s COVID Corporate Financing Facility.

The NEXTDC Ltd (ASX: NXT) share price has surged 6.5% higher to $10.53 after announcing major new contract wins in New South Wales. According to the release, the company’s contracted commitments at its New South Wales data centre facilities have now increased by approximately 4MW, to more than 36MW. And including expansion options, its data centres in the state are now approaching a sizeable 60MW.

The Telix Pharmaceuticals Ltd (ASX: TLX) share price has jumped 16.5% to $1.49. The catalyst for this gain was an announcement which reveals that the U.S. FDA has granted Breakthrough Therapy designation for Telix’s renal cancer imaging product TLX250-CDx. The FDA will work closely with Telix to provide guidance on the development of TLX250-CDx for the diagnosis of indeterminate renal masses that have been identified on CT or MRI imaging.

More reading

• These were the worst performing ASX 200 shares in FY 2020
• NEXTDC share price jumps 8% on new contract wins
• Flight Centre share price on watch after new funding deal
• Webjet and these shares were the worst performers on the ASX 200 in June
• Top ASX Stock Picks for July 2020

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and TELIXPHARM DEF SET. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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