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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,441.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down 12.5% to $5.99 following the release of an investor update. The embattled infant formula company revealed that it expects significantly lower margins compared to pre-COVID levels. It is also aiming to grow its sales to NZ$2 billion over the next ~5 years. This compares to FY 2020’s pre-COVID sales of NZ$1.73 billion. In addition, management advised that while its FY 2022 outlook remains the same, its China label IMF sales are now expected to be significantly down in the first half compared to the prior corresponding period.

Codan Limited (ASX: CDA)

The Codan share price has crashed 19% to $10.90. This is despite the technology company announcing a multi-year A$37.6 million contract to supply Domo Tactical Communications software defined mesh radios to a publicly listed global technology corporation. This is part of a sensitive military program, which some investors may be uncomfortable with. Also failing to stop the decline was management stating at its AGM that it is confident it will deliver a record first half result.

Electro Optic Systems Hldg Ltd (ASX: EOS)

The Electro Optic Systems (EOS) share price is down 5% to $3.43. Investors have been selling the communications, defence, and space company’s shares after it downgraded its earnings guidance for FY 2022. EOS now expects its underlying EBIT before SpaceLink costs to be between $4 million and $8 million. This is a reduction from its prior guidance of $18 million to $21 million.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is down 3.5% to $39.03. This morning the retail giant released its first quarter update ahead of its annual general meeting. For the three months ended 30 September, Woolworths delivered a 7.8% increase in group sales during the first quarter. However, it warned that Australian Food sales have slowed in New South Wales since restrictions eased.

The post Why A2 Milk, Codan, EOS, and Woolworths shares are sinking appeared first on The Motley Fool Australia.

More reading

• Why is the Codan (ASX:CDA) share price free-falling 13% today?
• ASX 200 (ASX:XJO) midday update: A2 Milk crashes, Woolworths tumbles
• Need a COVID test? Now you can buy one at Coles (ASX:COL) or Woolies
• Woolworths (ASX:WOW) share price slides after Q1 earnings update
• A2 Milk (ASX:A2M) share price crashes 12% on investor update

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. owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited. 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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The Pointerra Ltd (ASX: 3DP) share price is all over the map today. The company’s shares are trading flat at 42 cents at the time of writing, having earlier posted gains of more than 7%.

Below, we take a look at the ASX tech share’s announcement on its participation in the Canaccord Genuity South-West Connect ASX Showcase. The conference takes place today and tomorrow at the Abbey Beach Resort, in Busselton, Western Australia.

What did the company report?

The Pointerra share price initially soared after the company reviewed some key metrics it’s sharing at the conference.

Those include 240% year-on-year growth in annual contract value (ACV), increasing from US$2.87 million as at July 2020 to US$9.80 million for the year ending July 2021.

The United States utility sector continues to be its strongest ACV growth segment.

Cash receipts from its customers for the 2021 financial year came in at $4.1 million, with $1.4 million of cash receipts in Q4. Pointerra said it is well funded for further organic ACV growth.

During FY21, the company also more than doubled its full-time employees, from 12 to 29.

What does Pointerra do?

Pointerra is focused on helping the management and analysis of complex 3D data. According to the release, “Analysing and sharing 3D data are long-standing challenges that have inhibited safety, security and efficiency outcomes…”

The company adds:

Pointerra’s patented cloud-deployed technology and AI-driven algorithms bring a new standard of speed, smarts, scale and on-demand access to the long-standing problem of being able to rapidly convert massive 3D datasets into analytics and insights that provide definitive answers using digital twins to manage the physical world.

Pointerra share price snapshot

The Pointerra share price is up 26% over the past 12 months, just edging out the 24% gains posted by the All Ordinaries Index (ASX: XAO) during that same time.

Pointerra shares are down 12.5% over the last month.

The post What’s happening with the Pointerra (ASX:3DP) share price today? appeared first on The Motley Fool Australia.

More reading

• CogState (ASX:CGS) share price rockets 9% on record quarter
• Why the Creso Pharma (ASX:CPH) share price is lifting today
• Top brokers name 3 ASX shares to buy today
• Why is the Blackmores (ASX:BKL) share price having such a lousy day?
• Magontec (ASX:MGL) share price leaps another 13%, up 68% in 2 days

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointerra Limited. The Motley Fool Australia has recommended Pointerra 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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The CogState Ltd (ASX: CGS) share price is moving with gusto today following the release of its quarterly cash flow statement.

In afternoon trade, shares in the neuroscience technology company are fetching $2.40, up 9.59%.

Here’s what the company revealed in its latest announcement.

What’s sending the CogState share price higher today?

Investors are bidding up the CogState share price following a record quarterly result. The quarter, ended 30 September 2021, involved substantial growth across various metrics. Here are some of the highlights from the report:

• Quarterly revenue of $12.3 million, up 99% year on year
• Clinical trials sales contracts of $40.8 million, an increase of 391% year on year
• Total revenue backlog of $130 million, up 202% year on year and a record result
• Net cash of $23.4 million at the end of the quarter
• Net operating cash outflow of US$0.3 million compared to US$2.2 million in the Q1 FY21

What happened during the quarter?

CogState has kicked off the new financial year with a cracking quarter. The company, which offers brain health assessments solutions, reported a record quarter in Q1.

In dollar terms, the use of its solutions in clinical trials provided the most significant increase in the company’s revenue. Out of the total $12.3 million of record quarterly revenue, $11.1 million was from clinical trials — typically to do with Alzheimer’s disease. Revenue from clinical trials grew by 93% compared to the prior corresponding period.

Meanwhile, the other portion of revenue denominated as ‘healthcare’ revenue experienced a dramatic 255% surge to $1.1 million. Clearly, shareholders are happy with this increase, as the CogState share price rallies into the afternoon.

The near tripling in healthcare revenue for the quarter was mostly attributable to the recognition of deferred revenue. This was from the licensing agreement associated with the pharmaceutical company Eisai. CogState entered a 10-year global agreement with Eisai back in October 2020 for it to market CogState’s assessment tools globally.

Furthermore, CogState executed a record $40.8 million worth of clinical trials sales contracts in Q1. This included a contract for the use of digital assessment tools in a large phase 3 Alzheimer’s disease trial. As a result, the value of clinical trials sales contracts executed in Q1 was more than the first three quarters of FY21 combined.

What did management say?

Commenting on the record quarterly result, CogState CEO Brad O’Connor stated:

The 2021 financial year was a watershed year for Cogstate and, pleasingly, the 2022 financial year has started positively. In the first quarter, Cogstate has executed almost a year’s worth of clinical trials sales contracts. This result was underpinned by the award of a large phase 3 Alzheimer’s disease study, which is being conducted as a completely virtual, decentralized trial. That trial will use Cogstate proprietary digital assessments as key endpoints in the trial.

How does the future look for the CogState share price?

Finally, in another positive for the CogState share price, the company is optimistic for the FY22 outlook. Notably, research and development spending on Alzheimer’s is expected to increase with time, putting CogState in a good position.

Hence, the company reiterated its previous full-year guidance. This includes operating expenses to range between 31% and 33%. Meanwhile, underlying operating cash flow is expected to be 30% to 35% of earnings before interest, depreciation, and amortisation (EBITDA).

The post CogState (ASX:CGS) share price rockets 9% on record quarter appeared first on The Motley Fool Australia.

More reading

• What’s happening with the Pointerra (ASX:3DP) share price today?
• Why the Creso Pharma (ASX:CPH) share price is lifting today
• Top brokers name 3 ASX shares to buy today
• Why is the Blackmores (ASX:BKL) share price having such a lousy day?
• Magontec (ASX:MGL) share price leaps another 13%, up 68% in 2 days

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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Shares in medicinal cannabis company Creso Pharma Ltd (ASX: CPH) are inching higher today, now changing hands at 12 cents apiece.

Today’s 4.35% gain from the open builds on the past 2 days of trading. Over this time, the company has released a set of key announcements.

Here are the details.

What’s up with Creso Pharma shares today?

Creso shares are on the move despite there being no market-sensitive information from the company today.

However, the company seems to be benefitting from announcements it made earlier in the week.

Firstly, Creso announced that it entered into an asset purchase agreement with Canadian life sciences company, ImpACTIVE. The agreement is to purchase certain assets in ImpACTIVE’s portfolio.

The purchase is set to occur through a newly formed Creso subsidiary, known as Creso ImpACTIVE Ltd.

The transaction is a scrip deal for $217,000 worth of Creso shares, valued at 11 cents a share. That’s a smidge below its current share price.

One benefit Creso claims from the transaction is that it will expand the company’s footprint in North America. Concurrently, it will reduce cross-border regulation headwinds.

Separately, the medicinal cannabis player released a prospectus covering the issuance of “bonus options” to its shareholders yesterday.

Curiously, Creso states the purpose of this issue is to reward its shareholders. But it elaborates that the options can be considered a form of financing, if they are exercised.

That’s because, under the offer the prospectus describes, Creso will receive 25 cents for each bonus option that is exercised.

So in the event all of these newly issued options are exercised at some point in the future, Creso will receive a sum just shy of $100 million.

The prospectus also allows investors to trade the contracts on any ASX market that permits the buying and selling of derivatives.

It appears that these two price-sensitive updates may be still weighing in on the Creso Pharma share price today, particularly as the trading volume of its shares today is 72.5% of its 4-week average.

Creso Pharma share price snapshot

The Creso Pharma share price has struggled this year to date, having posted a loss of 35% since 1 January.

Despite this, it has soared almost 320% over the past 12 months, well ahead of the benchmark S&P/ASX 200 Index‘s (ASX: XJO) climb of about 21% in the same time.

The post Why the Creso Pharma (ASX:CPH) share price is lifting today appeared first on The Motley Fool Australia.

More reading

• Creso Pharma (ASX:CPH) share price spikes on bonus options issue
• Here’s why the Creso Pharma (ASX:CPH) share price is leaping 9% today
• Beaten up ASX cannabis shares showing signs of life
• Creso Pharma (ASX:CPH) share price struggles despite study update
• Creso Pharma (ASX:CPH) share price jumps on new deal

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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The Magontec Ltd (ASX: MGL) share price is soaring again today, bringing its gains for the last 2 days alone to a whopping 68%.

Interestingly, the company hasn’t released any price-sensitive news to the ASX since late August. Still, the market seems to be enthused by the producer of magnesium alloy ingots and magnesium and titanium anodes.

At the time of writing, the Magontec share price is 54 cents, 12.5% higher than its previous close.

Though, that’s lower than it was earlier today. The Magontec share price reached 65 cents in intraday trade today, representing a 35% single-day gain.

And it’s not alone. Many ASX magnesium-focused stocks have seen their value surge over the last few days.

Let’s look at what might be driving the company’s stock higher.

Magontec share price surges higher

The Magontec share price is taking off this week amid a potential global shortage of magnesium.

According to a group of European industry associates, the continent expects to run out of magnesium next month.

In a joint statement, 11 European entities noted the impact of China’s ongoing energy crunch will extend to Europe, which relies on the Asian nation to produce 95% of its magnesium.

According to reporting by ABC News, an electricity shortage in China has seen the country’s magnesium production slow. China’s exports of the material could potentially be cut by 10% this year as a result.

While the demand has seen magnesium producers’ stock take off this week, Magontec differs from other ASX magnesium companies.

Magontec doesn’t produce magnesium. However, it does recycle it. The company has recycling facilities in Germany and Romania and uses recycled magnesium to produce alloy ingots.

Therefore, market watchers might assume the company could continue producing alloy ingots despite a shortage of new magnesium.

Additionally, the company supplies the automotive industry, which is expected to be hit hard by the shortage.

Finally, Magontec’s Chinese Qinghai facility receives 75% of its energy needs from hydroelectricity and nearly 10% from solar power. The facility produces magnesium alloy product and, when it can be supplied with magnesium, it might have a greater chance than other producers to run during a power shortage.

However, as the company noted in its annual report, the facility operated at low volumes through financial year 2021.

The post Magontec (ASX:MGL) share price leaps another 13%, up 68% in 2 days appeared first on The Motley Fool Australia.

More reading

• Why are ASX magnesium miners getting so much love this week?
• ASX magnesium shares are going gangbusters. What’s happening?

Motley Fool contributor Brooke Cooper 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Appen Ltd (ASX: APX)

According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. The broker believes that the company’s outlook is improving thanks to news that Facebook is increasing its capital expenditure by 70%. Particularly given how the social media giant highlighted artificial intelligence and machine learning spending as being a key driver in this increase. The Appen share price is trading at $10.62 today.

Mineral Resources Limited (ASX: MIN)

Another note out of Citi reveals that its analysts have retained their buy rating but trimmed their price target on this mining and mining services company’s shares to $55.00. This follows the release of the company’s quarterly update this week. And while that update revealed a sharp drop in the price it is commanding for iron ore, the broker feels that recent policy changes in China will put a floor on iron ore prices now. In addition, Citi expects the company’s lithium earnings contribution to recover in the next 12 months. This is on the back of better pricing for Mt Marion spodumene and the Wodgina mine restart. The Mineral Resources share price is fetching $38.71 today.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie have retained their outperform rating and $2.80 price target on this lithium miner’s shares. This follows the announcement of a joint venture with Korean giant POSCO. That joint venture will construct a 43,000tpa lithium hydroxide facility in South Korea. Macquarie believes this is a positive and expects it to underpin the expansion of the Pilgangoora operation. The Pilbara Minerals share price is trading at $2.21 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• Galan Lithium (ASX:GLN) share price tumbles after it posted its quarterly report
• Is the Appen (ASX:APX) share price dirt cheap?
• Pilbara Minerals (ASX:PLS) share price on watch after record lithium auction results
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Tuesday

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. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. 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 S&P/ASX 200 Index (ASX: XJO) is having a fairly average day of trading so far on the ASX boards this Wednesday. At the time of writing, the ASX 200 is in the green, but only just, up 0.04% at 7,446.6 points. But one ASX 200 share is faring far worse today. That would be the Blackmores Limited (ASX: BKL) share price.

Blackmores shares are currently in the red today, down 0.56% at the time of writing to $96.06 a share. That’s not as bad as it was this morning though. Soon after market open, Blackmores descended as low as $94.72 a share, down almost 1.5%.

So what’s eroding investor confidence in this nutrition company’s shares today?

Why is the Blackmores share price in the red today?

Well, it’s not entirely clear. We haven’t seen any price-sensitive announcements out of the company today. Although Blackmores did release its annual general meeting speeches and presentation to investors this morning.

These speeches and presentations contained no new information on the company’s financial or the like. However, they did discuss the arguably awkward situation of its former chair and co-founder Marcus Blackmore and his departure from the Blackmores board last year. The company stated the following on that matter:

[Mr Blackmore’s departure] related to a difference of view as to Marcus Blackmore adherence to the principles of respect in the workplace contained in the Blackmores Code of Conduct… The Board had no choice but to disclose this information as some shareholders were better informed than others.

Even so, the company also stated that “We continue to be focused on building a positive and constructive relationship with Marcus Blackmore, as our largest shareholder”.

This situation might be weighing on investors’ minds today.

Consumer staples shares sold off

But Blackmores’ share price woes this Wednesday could also just be the result of some normal market gyrations. Yes, Blackmores shares are underperforming the ASX 200 today. But it’s not alone in that malaise.

The entire consumer staples sector is leading the ASX 200 losses so far this Wednesday. Other consumer staples shares like Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL), Treasury Wine Estates Ltd (ASX: TWE), and the outlier by far, A2 Milk Company Ltd (ASX: A2M) are all down rather substantially so far today. A2 Milk is leading the losses in this space with a nasty 11.9% drop at the time of writing.

Perhaps the Blackmores share price has just been caught up in a general distaste for consumer staples shares today.

At the current Blackmores share price of $96.06, this company has a market capitalisation of $1.86 billion, with a dividend yield of 0.74%.

The post Why is the Blackmores (ASX:BKL) share price having such a lousy day? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Blackmores (ASX:BKL) share price lifts as boardroom battle heats up
• Top brokers name 3 ASX shares to buy next week
• Why is the Blackmores (ASX:BKL) share price slumping 4% today?

Motley Fool contributor Sebastian Bowen owns shares of A2 Milk. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited, COLESGROUP DEF SET, and Treasury Wine Estates Limited. 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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The Musgrave Minerals Ltd (ASX: MGV) share price is ticking higher in afternoon trade as the mining company unveils a new update from its Cue Gold project.

At the time of writing, shares in the minerals company are now changing hands at 39 cents apiece, a 4% gain on the day.

Musgrave shares are on the move as the company released a key announcement regarding a prospect at its flagship Cue Gold Project in Western Australia.

Here are the major details.

What was announced?

Musgrave reported “further strong assay results” from its reverse circulation (RC) drilling program at the Big Sky prospect at the Cue Gold site.

RC drilling at the site along the “new 7km long gold corridor on [the company’s] 100% owned ground” continues to intersect significant gold mineralisation around 1-6m below ground at Big Sky.

The company also advised that infill RC drilling had intersected a “bonanza” gold grade of 28m @ 35.9g/t Au from 49 metres.

Within that strike is another 1 metre @ 898g/t Au from 49 metres, with “coarse gold in quartz in RC drill chips”.

Both results are supported by repeat assays and the presence of coarse visible gold, according to the announcement.

Furthermore, Musgrave also identified an additional new high-grade gold position in the footwall to Big Sky via a dolerite zone, which it says is “open and untested along strike and down dip”.

For reference, dolerite, or diabase as it is also known, is a rock-type associated with non-alluvial gold mining throughout certain regions in WA.

Alongside these finds, Musgrave confirmed that resource delineation drilling is continuing at Big Sky, coupled with infill and RC drilling at additional targets along the prospect.

Aside from the data presented today, Musgrave still has assay results pending for a “large number of drill holes across the Cue project”.

In addition to the Big Sky prospect, the Cue project also has additional resource estimates of 262,000 ounces at one “Break of Day Deposit” and another 325,000 ounce gold estimate at the “Lena Deposit”.

What did management say?

Speaking on the announcement today, Musgrave Minerals managing director Rob Waugh said:

This is a very good result and highlights the highgrade potential at Big Sky over the broader 2.6km of strike. It is unusual on the Yilgarn to see such coarse gold in RC drill chips and the results validate our belief that there are high grade zones within the Big Sky trend.

Regarding the discovery of a dolerite discovery, Waugh added:

The identification of a new dolerite hosted zone in the footwall of Big Sky is also a positive. This could be the southern extension of the same dolerite unit identified to the north on the Evolution JV. Gold can be hosted in many different rock types on the Yilgarn but dolerites are one of the most prolific host lithologies for large deposits.

Musgrave Minerals share price snapshot

After rallying 45% in the last month, the Musgrave Mining share price has managed to step into the green and post a year to date return of 4%.

Depsite this, it lays 24% in the red over the past 12 months. That’s well behind the benchmark S&P/ASX 200 Index (ASX: XJO)’s return of around 21% in that time.

The post Musgrave (ASX:MGV) share price rises on bonanza gold hit appeared first on The Motley Fool Australia.

More reading

• Galan Lithium (ASX:GLN) share price tumbles after it posted its quarterly report
• Race Oncology (ASX:RAC) share price struggles despite new Leukemia study
• Why is the Codan (ASX:CDA) share price free-falling 13% today?
• Little Green Pharma (ASX:LGP) share price leaps 7% on revenue growth
• Why Life360, Nitro, Reliance Worldwide, and Uniti shares are charging higher

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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The Galan Lithium Ltd (ASX: GLN) share price is crashing after the ASX miner posted its latest quarterly update.

Shares in the lithium hopeful dived 4.2% to $1.25 during lunch time trade, although its peers aren’t doing much better.

The Orocobre Limited (ASX: ORE) share price lost 0.1% to $9.55, while the Pilbara Minerals Ltd (ASX: PLS) share price shed 2% to $2.22 at the time of writing.

Galan Lithium share price in cooldown

It’s probably more good ol’ profit taking that’s driving the sell-off more than anything sinister as ASX lithium shares have surged over the past year.

For example, the Galan Lithium share price is sitting on an 850% increase in the past 12-months. Management will need more than a positive spin on the quarterly to drive the shares higher in the near-term.

At least Galan Lithium didn’t let the rally go to waste. It raised $50 million via an institutional placement which boosted its cash holdings to just over $42 million.

Cash to fund lithium projects

That should last it a while as it looks to prove up its Argentinian projects. The miner’s focus in the latest quarter was on the ongoing feasibility works and next round of drilling at its high-grade Hombre Muerto West (“HMW”) project.

It also reported that it is moving closer to awarding the engineering component of the feasibility studies to an engineering company. It’s currently in discussions with three international firms.

Meanwhile, Galan Lithium is also advancing its scoping studies at the Candelas project. Both projects are in the Hombre Muerto West salt flat in the South American Lithium Triangle.

Galan Lithium owns 100% of these projects and holds an 80% stake in the Greenbushes South Lithium project. The balance is held by its joint-venture partner Lithium Australia NL (ASX: LIT).

Hot commodity

Lithium has been the hot commodity over the past year. It’s the main input into batteries, which are used in electric vehicles (EVs).

Some experts believe supply will struggle to keep up with demand due to the growing popularity of EVs. The decarbonisation of the world will also add to demand for batteries to store power from sustainable energy sources.

Against this background, the junior explorer has outrun its bigger peers. That’s not surprising as it tends to be the more speculative ASX mining shares that do better when commodities are running hot.

Galan Lithium share price tops its bigger peers

The Pilbara Minerals share price powered up nearly 500% over the past year but that’s still 392% behind Galan Lithium’s share price run.

In case you are wondering, the Orocobre share price chalked up a gain of 255%, while the Lithium Australia share price added 180% over the period.

The post Galan Lithium (ASX:GLN) share price tumbles after it posted its quarterly report appeared first on The Motley Fool Australia.

More reading

• Pilbara Minerals (ASX:PLS) share price on watch after record lithium auction results
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Why Crown, Dicker Data, Neometals, and Pilbara Minerals are surging higher
• ASX 200 (ASX:XJO) midday update: Crown and Pilbara Minerals surge higher

Motley Fool contributor Brendon Lau 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 Race Oncology Ltd (ASX: RAC) share price is edging lower today despite a positive development by the pharmaceutical company.

At the time of writing, Race Oncology shares are fetching for $3.23, down 2.12%. This means over the past month, its shares have fallen almost 10%.

What did Race Oncology announce?

In its statement, Race Oncology advised it has entered into a research collaboration with Chaim Sheba Medical Centre in Israel.

The partnership will see the team at Chaim Sheba analyse clinical patient samples from the ongoing Zantrene study for FTO and related biomarkers. FTO refers to the fat mass and obesity-associated (FTO) gene, which mostly influences the body mass index (BMI).

Race Oncology is currently in a phase 1b/2 relapsed/refractory (R/R) Acute Myeloid Leukemia (AML) Zantrene trial.

AML is a type of blood cancer that starts in the bone marrow and usually moves into the bloodstream. While treatment options are limited, if not addressed, AML can be life-threatening.

The biomarker testing is expected to provide better understanding from patient tumour samples before, during and after treatment with Zantrene.

Dr Dan Dominissini, a world-renowned expert in RNA biomarkers will oversee the FTO analysis.

Race Oncology chief science officer, Dr Daniel Tillett commented:

We are delighted to be extending our successful collaboration with the team at Chaim Sheba to generate important data on the effects of Zantrene on FTO and related molecules. These data will give us the first insights into the effect of Zantrene in patients on FTO and m6A RNA methylation and continues to advance our Three Pillar Strategy.

Chaim Sheba lead, Dr Dominissini added:

We are excited to see these basic discoveries translated into the clinic by the Zantrene study of Race Oncology for relapsed or refractory AML. We hope that our scientific collaboration will advance the understanding of the correlation between FTO and m6A status in AML and response to treatment.

About the Race Oncology share price

Race Oncology shares have gained more than 200% in the past 12 months and are up by more than 80% year to date.

Based on today’s price, Race Oncology has a market capitalisation of about $542 million, with 143 million shares on issue.

The post Race Oncology (ASX:RAC) share price struggles despite new Leukemia study appeared first on The Motley Fool Australia.

More reading

• Race Oncology (ASX:RAC) share price edges higher amid patent update
• Why the Race Oncology (ASX:RAC) share price is storming higher today
• Why the Race Oncology (ASX:RAC) share price surged 7% today

Motley Fool contributor Aaron Teboneras 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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