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The Amplia Therapeutics Ltd (ASX: ATX) share price is one of the best performers on the ASX today. This comes after the pharmaceutical company announced positive news in trials to improve pancreatic cancer survival.

At one point in intraday trade, Amplia shares were up a massive 56% to 32 cents. They’ve since pulled back slightly to 29 cents per share.

The Australian company says its AMP945 inhibitor is able to boost the anticancer activity of standard treatment drugs by up to 27% in animal trials.

The trials were undertaken in collaboration with Professor Paul Timpson from the Garvan Institute of Medical Research.

Amplia Therapeutics is advancing the pipeline of Focal Adhesion Kinase (FAK) inhibitors for the treatment of cancers and fibrosis. FAK is increasingly important in the field of cancer immunology.

What’s driving the Amplia share price higher?

Investors are fighting to get hold of Amplia shares after the company released data from its latest trials using the AMP945 inhibitor on mice.

In its announcement, Amplia advised that new data has shown AMP945 is able to improve anticancer activity.

The trial combined oral doses of AMP945 with standard treatment drugs — gemcitabine and Abraxane — used in the treatment of aggressive pancreatic cancer.

The new data found adding intermittent doses of AMP945 increased the survival rate by 27%.

The mice that received AMP945, with gemcitabine and Abraxane, survived for a median of up to 28 days. This compared to 18 days for mice who didn’t receive the treatment.

This follows previous studies revealing AMP945 enhances the activity of chemotherapy by increasing cell death and reducing the spread of cancer cells.

What did management say?

Garvan Institute of Medical Research Professor Paul Timpson said:

The pancreatic cancer cells used in this experiment are extremely aggressive, so showing any beneficial effect on survival is very encouraging. A 25% improvement in survival in this model is very impressive and a level of improvement that we rarely see.

Amplia CEO Dr. John Lambert added:

These data further underpin the rationale for our planned Phase 2 clinical trial in pancreatic cancer. Earlier data told us that adding AMP945 to gemcitabine and Abraxane increased cancer cell death and reduced proliferation, and this new data tells us that those effects actually translate into prolonged survival in this model. We are strongly encouraged by these results.

Amplia is planning a Phase 2 clinical trial in pancreatic cancer patients towards the end of this year.

The Amplia share price has risen by around 120% during the past 12 months.

More reading

• 2 buy-rated ASX lithium shares
• The Santos (ASX:STO) share price is leaping 5% higher today. Here’s why
• What were Bank of Queensland (ASX:BOQ) shares up to last month?
• Why the People Infrastructure (ASX:PPE) share price hit an all-time high
• Why Infomedia, Megaport, Regis, & WISR shares are sinking

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The Santos Ltd (ASX: STO) share price is climbing higher today, up almost 6% in afternoon trading.

Yesterday we had a look into why S&P/ASX 200 Index (ASX: XJO) energy shares like Santos could be well-positioned to outperform this year.

Today, here’s a brief follow up.

What’s driving the oil price to multi-year highs?

After crashing to lows of US$21.40 per barrel on 24 April 2020 in the wake of pandemic-driven global lockdowns, crude oil is trading at multi-year highs today.

West Texas Intermediate (WTI) crude is at levels not seen since October 2018. International benchmark Brent crude is also at multi-year highs, currently trading at US$70.68 per barrel. That’s up 0.6% since I penned yesterday’s article and up 8.5% since 20 May.

The rising crude price, and soaring Santos share price, reflects resurgent demand from a reopening world. This has been spurred by dwindling crude stockpiles and a sluggish uptick in new supply from US shale producers.

And, of course, there’s OPEC+, which includes Russia.

The organisation, led by Saudi Arabia, delivered large supply cuts during the past year. Only recently has it been moving to carefully open the taps a little wider.

As Bloomberg reports, “OPEC+ ministers agreed Tuesday to press ahead with an increase of 841,000 barrels a day in July, following hikes in May and June…”

OPEC did not comment on its output expectations beyond July.

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman stoked energy bulls’ sentiment by adding that demand for crude “has shown clear signs of improvement”.

One factor that’s been weighing on oil investors’ minds is Iran. Namely, whether the oil-rich nation will work out its nuclear agreement with the United States. That would likely see US sanctions on Iran’s oil exports lifted, and could add enough supply to global markets to sink prices.

But as Bloomberg noted, there “was an indication that talks to revive a 2015 nuclear accord with Iran has been delayed for now. An Iranian official said a deal is now expected to be finalised in August.”

COVID-19 remains the big wild card for oil prices in the months ahead. If the world can stay ahead of the virus and continue on the path of reopening, crude oil prices and ASX energy shares could continue to enjoy some strong tailwinds.

Santos share price snapshot

With today’s intraday gains factored in, the Santos share price is up 32% over the past 12 months, outpacing the 23% gains posted by the ASX 200.

Year-to-date, the Santos share price has continued to outperform, up more than 13% so far in 2021.

More reading

• Why BHP, Healius, Inghams, & Santos are charging higher
• ASX 200 up 0.65%: BHP & Rio higher, energy shares jump
• ASX energy shares could boom if OPEC has this one right
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday

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Last month, the S&P/ASX 200 Index (ASX: XJO) had a pretty great time. Not only did the ASX 200 put on an additional 1.9% over May, it also hit not one, but two, new record highs.

This was driven by many ASX banking shares. The big four ASX banks make up 4 of the ASX’s 6 largest companies. As such, their movements are extremely important to how the ASX 200 performs overall. And many banking shares had a top month.

Most prominent was the Commonwealth Bank of Australia (ASX: CBA), which managed to hit $100 a share for the first time in May. But what of the smaller ASX banks? Well, let’s check out Bank of Queensland Ltd (ASX: BOQ) today.

So, Bank of Queensland has had a pretty solid year of performance over the past 12 months. It has managed to add around 69% to its value over this period, not including dividend returns. It’s also up a healthy 17.8% year to date.

But what of May? Well, BOQ shares started the month at a price of $9.02 a share. By Monday afternoon, the bank was asking $8.95 a share. Yep, Bank of Queensland had a red May, losing 0.78% of its valuation.

More money, ME problems

Well, perhaps the largest factor that might have been weighing on Bank of Queensland shares over May was the woes facing its most recent acquisition – ME Bank. Back in February, BOQ announced that it would poach the formerly mutual Me Bank for a price of $1.35 billion. This was funded via a capital raising program shortly after. It’s that acquisition that might have caused some consternation from investors in May.

That’s because we learnt on 27 May that the Australian Securities and Investments Commission (ASIC) was filing charges against Me Bank in the Federal Court of Australia. As my Fool colleague Brooke Cooper comprehensively covered at the time, ASIC is alleging that BOQ breached laws relating to giving false or misleading information, as well as the National Credit Code. These alleged incidents are said to have taken place between September 2016 and September 2018.

It’s worth noting that Me Bank has yet to have its day in court.

About the BOQ share price

Since the end of May, Bank of Queensland shares have lost another 1%, and are going for $8.87 at the time of writing, up 0.05% for the day. That share price gives BOQ a market capitalisation of $5.69 billion, a price-to-earnings (P/E) ratio of 37 and a trailing dividend yield of 3.23%.

More reading

• Why the Nanosonics (ASX:NAN) share price fell 8% in May
• The ALS (ASX:ALQ) share price gained 17% in May. Here’s why
• How did the CSL share price fare in May?
• ASX 200 up 0.65%: BHP & Rio higher, energy shares jump
• 5 things to watch on the ASX 200 on Wednesday

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People Infrastructure Ltd (ASX: PPE) shares jumped to record territory this morning after the company announced it is taking majority shareholdings in two “highly complementary” businesses.

In early trade, the People Infrastructure share price briefly hit an all-time record high of $4.80 before partially retreating. At the time of writing, the company’s shares are trading 0.22% higher at $4.55 each.

People Infrastructure share price gets a boost

Judging by today’s People Infrastructure share price performance, investors appear pleased with the company’s latest investments. In an announcement to the ASX before market open this morning, People Infrastructure advised it has entered into agreements to acquire shares in Techforce Personnel and Vision Surveys (QLD).

Techforce Personnel

Techforce Personnel is a provider of casual workers in Western Australia and South Australia. The company provides staff to a range of industries, with a focus on industrial services and mining sectors.

People Infrastructure will acquire 79.3% of the shares in Techforce Personnel for $13.1 million in cash and $250,000 in People Infrastructure shares. The company also advised, “Up to a further $2.72m will be payable as deferred cash consideration after completion…”

According to People Infrastructure, Techforce Personnel’s services are highly aligned with its own industrial and services business. The added benefit the company sees with its investment is that Techforce Personnel will provide greater exposure to People Infrastructure’s underserved states of Western Australia and South Australia.

Techforce Personnel has a strong track record of organic growth, with a compound average growth rate (CAGR) for revenue of 23.7% over the last three years.

The acquisition is expected to contribute $5.8 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in FY22.

Vision Surveys

Vision Surveys is a multi-discipline surveying business servicing metropolitan and regional Queensland. The company is focused on sectors including infrastructure, construction and residential development. People Infrastructure has entered into a binding agreement to purchase 75% of the shares in the company.

The acquisition will comprise a $6.7 million upfront payment, made up of 75% cash and 25% People Infrastructure shares. A further $3.8 million may be payable as deferred consideration over three tranches based on EBITDA hurdles across FY22, FY23 and FY24.

Vision Surveys has a similar strong track record of organic growth with revenue CAGR of 14% over the last three years.

Earnings accretive acquisitions

The acquisitions are expected to be approximately 19% earnings-per-share (EPS) accretive, adding a meaningful kick to People Infrastructure’s financial performance. The potential boost in earnings, alongside the strong organic growth profile of the two acquired companies, appears to be having a positive effect on the People Infrastructure share price today.

In response to the acquisitions, People Infrastructure CEO Declan Sherman said:

The acquisition of Techforce Personnel and Vision Surveys Qld are highly complementary to our existing business. Both businesses are well established in their regions, have strong customer relationships, and proven leadership teams who have successfully grown these businesses over several years. Through being part of a larger group, these businesses will be able to accelerate their growth through adding service lines, sharing customers and growing geographically

More reading

• 2 still-cheap ASX shares we’ve made buckets of money from: analyst
• 3 ASX growth stocks running higher this week

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The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Wednesday. In afternoon trade, the benchmark index is up 1% to 7,212.3 points.

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

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 9% to $1.39. This appears to have been driven by profit taking from some investors after a particularly strong gain on Tuesday. The software company’s shares are now trading roughly in line with where they were prior to yesterday’s gain, which was driven by a solid trading update.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 4% to $14.86. While the network as a service company released an investor update this morning, this decline appears to have been driven largely by broad weakness in the tech sector. After all, the S&P/ASX All Technology Index (ASX: XTX) is down just over 1% this afternoon.

Regis Resources Limited (ASX: RRL)

The Regis Resources share price has fallen 3% to $2.58. This follows a slight pullback in the spot gold price overnight. Regis isn’t the only gold miner that is trading lower today. At the time of writing, the S&P/ASX All Ordinaries Gold index is down 0.8%.

WISR Ltd (ASX: WZR)

The WISR share price has returned from its trading halt and crashed 14% lower to 27.5 cents. This morning the non-bank lender announced the completion of an institutional placement. Wizr raised $50 million (before costs) through an institutional placement. The company raised the funds through the issue of 200 million new ordinary shares at a price of 25 cents each. This represents an 22% discount to its last close price. Management notes that the proceeds will allow Wisr to build a company of significant size, scale and impact in the Australian market.

More reading

• The Wisr (ASX:WZR) share price is plummeting 18% today. Here’s why
• ASX 200 drops, Nine rises and Centuria Industrial REIT falls
• Why a2 Milk, Fortescue, Infomedia, & Talga shares are pushing higher
• Wisr (ASX:WZR) share price in focus amid $50 million capital raising
• Why the Infomedia (ASX:IFM) share price is jumping 8% today

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Shareholders in Vulcan Energy Resources Ltd (ASX: VUL) had a rollercoaster ride in May.

After opening the month at around $8.29, shares in the lithium producer dipped to $6.36 before recovering to finish the month relatively flat.

Let’s take a look at what’s been driving the Vulcan share price this past month.  

What’s happening with the Vulcan share price?

Vulcan shares had an astonishing April, jumping 32% for the month. However, May proved to be far more volatile.

The 1 May price of $8.29 tumbled to a low of $6.36 by mid-May. During this period, the company didn’t release any price-sensitive news that could explain the decline.

However, at the end of April, Vulcan announced the acquisition of German geothermal surface consultancy company Global Engineering and Consulting (Geo-Co). The purchase, which came at a cost of 325,000 fully paid ordinary shares in Vulcan, may explain the share price drop as investors mulled the decision.

Other factors could include a weaker spot-lithium price and investors rotating out of the resource sector.

By late May, the Vulcan share price was lifted out of its lull after the company announced another key milestone for its Zero Carbon Lithium project.

In a market update, Vulcan announced it had achieved target specification for a direct lithium extraction (DLE) feed into its pilot plant. The company noted its team was able to recover more than 90% for lithium chloride from brine in the Upper Rhine Valley.

Vulcan’s management lauded the result and noted intentions to scale up lithium extraction processes. It also highlighted the company’s Zero Carbon Lithium project and its strategy to supply the European battery market for electric vehicles.

Snapshot of the Vulcan share price

Vulcan is a lithium developer with its flagship Zero Carbon Lithium project located in Germany’s Upper Rhine Valley. The company has the ambitious aim of becoming the world’s first lithium producer with net-zero greenhouse gas emissions.

Its Zero Carbon Lithium project aims to produce battery-quality lithium products from its combined geothermal energy and lithium resource.

The Vulcan share price also reflects demand for lithium and the growing electric vehicle market. After opening the year at $2.77, shares in Vulcan flew to an all-time high of $14.20 in early January.

Since then, the Vulcan share price has waned and remained relatively flat. Despite the subdued price action, shares in Vulcan are up more than 185% year to date.  

More reading

• Vulcan Energy (ASX:VUL) share price dips as it onboards a lithium expert
• ASX lithium shares are charging up today
• Why AMP, Champion Iron, EOS, & Vulcan shares are storming higher
• Up 5%, here’s why the Vulcan (ASX:VUL) share price is running higher
• Here’s why the Vulcan (ASX:VUL) share price is up 32% in a month

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ASX uranium shares are breaking out today, with some of producers and explorers making multi-year highs.

Why is uranium in the hot seat?

Uranium is mainly used as fuel for nuclear power reactors for electricity generation. Nuclear power isn’t exactly a “renewable” source of energy, but it generates near zero emissions. Uranium is expected to play a significant role in the global shift move to lower emissions over the next 30 years.

If you look at the 10-year charts of many ASX uranium shares, it isn’t uncommon for valuations to have declined by more than 90%. This is because the spot price of uranium has tumbled from peaks of US$137/lb in 2007 to lows of US$20/lb, sending many ASX uranium stocks out of business or into hibernation.

There has been recent resurgence in both investor interest in uranium as a green source of energy and an uptick in spot prices to ~US$30/lb.

In a capital raising presentation from Paladin Energy Ltd (ASX: PDN), the company flagged that current primary uranium supply is unable to meet current demand. It highlighted that nuclear power is currently responsible for 10% of global electricity production and the second largest source of global clean energy with almost zero carbon emissions. The company believes the uranium market is in a deficit with an even greater supply shortage to emerge in the medium to long term.

The increasing demand for uranium and uptick in prices could be a catalyst for the resurgence in ASX uranium share prices.

ASX uranium shares on the move

The Deep Yellow Limited (ASX: DYL) share price has surged 13.10% to 95 cents at the time of writing. Its shares previously hit 95 cents on 10 May, which marks an 8-year high for the uranium explorer.

Deep Yellow operates its flagship Tumas Project located in the premier uranium mining jurisdiction of Namibia with a long history of mining. The company currently undergoing its definitive feasibility study to achieve its goal of a 20-year life-of-mine operation.

The Devex Resources Ltd (ASX: DEV) share price is slightly down today but has surged some ~65% in the last five trading sessions. The company completed a $7.97 million capital raising to accelerate its key diversified exploration projects across Australia. This includes its Nabarlek Uranium and Gold-Copper Project in Northern Territory. The update advised that renewed field exploration was going to commence shortly to follow up several new and under-explored uranium prospects.

The Paladin Energy Ltd (ASX: PDN) share price has jumped 14% to an 8-year high of 57 cents at the time of writing. Back in March, the company successfully completed a $192.5 million capital raising to pay back debts and restart its mine production and optimisation.

More reading

• What’s with the Deep Yellow (ASX:DYL) share price today?
• These ASX uranium shares are surging this year. Here’s why

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The Straker Translations Ltd (ASX: STG) share price isn’t going anywhere on Wednesday.

This morning the translations company’s shares were placed in a trading halt.

Why is the Straker share price in a trading halt?

Straker requested a trading halt this morning so that it could launch a fully underwritten placement to institutional, professional, and sophisticated investors and accelerated non-renounceable entitlement offer.

According to the release, the company is seeking to raise A$20 million. This comprises a A$10 million placement and a A$10 million entitlement offer. It is raising the funds at $1.90 per new share, which represents an 18.5% discount to the current Straker share price.

The company advised that the proceeds from the equity raising will be used to accelerate its growth strategies, pay down debt, and pay offer costs.

In respect to its growth strategies, these include capitalising on its IBM opportunity and targeting other enterprise customers, enhancing its SaaS offering for enterprise customers, increasing its share of existing customer spend, and continuing its active acquisition strategy.

Management also took this opportunity to remind shareholders of its expectations for FY 2022. Straker has provided guidance of revenue of NZ$50 million, which will be an increase of 60% on FY 2021’s revenue. The company is also expecting improvements in its gross margin from 53% currently.

Bailador to take part in capital raising

This afternoon Bailador Technology Investments Ltd (ASX: BTI) revealed that it will be taking part in the capital raising.

Bailador, which is already a major shareholder, will be investing a minimum of A$1.2 million through its current entitlements under the entitlement offer and up to a maximum of A$6.2 million through a A$5.1 million sub-underwriting arrangement in the entitlement offer.

The final amount invested by Bailador remains subject to the level of take-up of entitlements by existing eligible Straker shareholders.

Bailador Co-Founder and Managing Partner, Paul Wilson, commented: “Bailador is pleased to be supporting Straker’s equity raising to help execute on its future growth plans, as disclosed at Straker’s financial year 2021 results last week. We are confident that Straker will deliver on these growth plans and as a result, Bailador is seeking to take up more than its pro-rata share of the equity raising, subject to final demand from existing investors.”

The Straker share price is up 59% since the start of the year.

More reading

• Brokers name 3 ASX shares to buy now
• Why the Straker Translations (ASX:STG) share price is rocketing today
• 3 great ASX tech shares to buy

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ASX copper shares have broadly outperformed the market, spurred on by soaring copper prices.

Copper hit all-time highs last month, trading for US$10,417 (AU$13,355) per tonne on 7 May.

Prices have retraced a touch since then, down 1.7% to US$10,245 at time of writing.

That decline has largely been blamed on China’s attempts to put a lid on soaring commodity prices, including iron ore. Talk that the US Fed may begin to wind down its quantitative easing (QE) program also dragged on investor sentiment.

Nonetheless, the red metal has gained 114% since 27 March 2020, when it traded for US$4,790 per tonne following the pandemic driven global asset fire sale.

Why is copper at near all-time highs?

Demand for the red metal has grown rapidly as the world emerges from a lengthy lockdown and nations turn to infrastructure spending to stimulate their economies. Copper is used in all sorts of construction work, from plumbing to roofing to electric wiring.

Speaking of electric wiring, it’s copper’s high conductivity that looks to really see demand ramp up as the globe attempts to decarabonise its power sources and increasingly turns to electric vehicles. EVs use roughly 4 times as much copper as combustion engine cars. And copper is also in high demand for the roadside charges you’ll find them hooked onto.

Richard Adkerson, the CEO of United States’ based copper mining giant Freeport-McMoRan Inc, calls the long-term outlook for copper demand “extraordinarily strong”.

At the same time, he notes that the copper supply is quite restricted, with new discoveries far and few between.

Speaking to Bloomberg television, Adkerson said:

There’s no shale oil for copper. Unlike the oil industry, where you have an ongoing flow of discoveries and now with a new element of shale coming in, copper mines of size are very rare to find.

How have these 2 ASX copper shares performed?

All kinds of factors will determine the returns from ASX copper shares, including management, their debt levels, and how much it costs them to dig the red metal from the ground.

But undoubtedly higher prices offer ASX copper shares a welcome lift.

Oz Minerals Limited (ASX: OZL) shares, for example, are up 271% since copper’s low on 27 March 2020. The Sandfire Resources Ltd (ASX: SFR) share price is up 130% since the low.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has gained 49% in that same time.

And both ASX copper shares have continued to do well in 2021.

Sandfire’s shares have gained 31% year-to-date, while OZ Minerals’ shares are up 36% in the calendar year.

More reading

• What has been happening with ASX copper shares?
• The ASX shares poised to benefit from new spending in the 2021 federal budget
• The ASX miners caught in the FOMO trade as copper smashed record highs
• Brokers say “buy” these 3 ASX shares even as they trade near 52-week highs
• Broker sees upside for these ASX 200 mining shares

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The Nanosonics Ltd (ASX: NAN) share price struggled in May.

During the month, the healthcare technology company’s shares shaved off 8%.

What happened to the Nanosonics share price in May?

Unfortunately for Nanosonics’ shareholders, weakness in the healthcare sector broadly doesn’t appear to be the fault. In fact, the S&P/ASX 200 Health Care Index (ASX: XHJ) outpaced the broader market, delivering a return of 3.5% in May. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) climbed 1.9%.

The disappointing month for Nanosonics might be due to the absence of catalysts. During May, the only announcements from the company pertained to a change in director’s interests. CEO, Michael Kavanagh exercised his performance rights to acquire 342,735 shares in Nanosonics.

Without any new information, investors could still be focusing on the decrease in first half revenue. Total revenue for H1 FY21 fell 11% year-over-year following a reduction in purchases by GE Healthcare due to COVID-19.

Looking forward

While the first half looked to be challenging for the company, it instilled confidence for the second half. Further vaccination rollouts and improved access to hospitals formed the basis of the optimistic outlook.

Referring to Nanosonics’ second half expectations, Mr Kavanagh said:

Based on current market improvements the company is anticipating ongoing growth in total revenue and profitability into the second half, driven by increasing installed base growth and increased usage of consumables across all regions.

However, this statement was made back in February. Since then, Australia has suffered vaccination rollout issues and additional lockdowns. This has potentially made investors uneasy regarding a second-half rebound.

Healthcare shares that had a better month

May was a good month for the large-cap ASX-listed healthcare shares. For example, CSL Limited (ASX: CSL) added 7% as data indicated a rise in foot traffic at plasma collection centres. Furthermore, Hearing device maker Cochlear Ltd (ASX: COH) rose 2% during May, with Macquarie analysts giving it a $245 price target.

Will June be a better month for the Nanosonics share price, or will the large-cap trend continue? Shareholders will be watching eagerly.

More reading

• The ALS (ASX:ALQ) share price gained 17% in May. Here’s why
• How did the CSL share price fare in May?
• ASX 200 up 0.65%: BHP & Rio higher, energy shares jump
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 drops, Nine rises and Centuria Industrial REIT falls

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