This week saw strong activity in the small cap market, with exciting developments in biotechnology, energy and litigation finance. Here’s a look at the stocks making headlines.
INOVIQ (ASX:IIQ) A step forward in the fight against cancer: INOVIQ became known thanks to a revolutionary proof-of-concept study for its treatment against breast cancer. The company reported that exosomes derived from genetically engineered natural killer cells can effectively deliver anticancer agents directly to triple negative breast cancer cells, a particularly aggressive form, while sparing healthy cells. At the highest dose, the therapy killed more than 30% of targeted cells, signaling the potential for significant improvement as the therapy expands.
APP (ASX:APA) Building the Tamboran (ASX: TBN) Pipeline: Energy infrastructure giant APA Group has reached an agreement to build a 37km gas pipeline for Tamboran Resources. The Sturt Plateau Pipeline will connect Tamboran’s Shenandoah South Pilot Project to the Amadeus pipeline, with APA owning and operating the infrastructure. Construction is expected to begin in 2025 and operations to begin in 2026, paving the way for increased gas transportation in the region.
Omni Bridge (ASX:OBL) Reaches $310 Million Deal with Ares: Litigation funder Omni Bridgeway has made a significant financial move by partnering with Ares Management to create a $600 million continuation fund, “Fund 9.” Ares will acquire a 70% stake for $310 million, allowing Omni to pay down $250 million in debt, reduce interest costs by $30 million per year and improve liquidity by $60 million . Omni will retain a 30% stake and continue to act as the fund’s investment advisor, earning a management fee.
Clarity Pharmaceuticals (ASX:CU6) Eyes “Pan-cancer” Therapy: Clarity Pharmaceuticals unveiled its new radiopharmaceutical product, SAR-bisFAP, designed to diagnose and treat multiple cancers by targeting fibroblast activation protein (FAP). This protein is present in many types of cancer but absent in healthy tissues, thus offering a potential “pan-cancer” approach. Shares jumped 16.49% to $5.37 on the news, with Phase I trials scheduled for late 2025.
Mesoblast (ASX:MSB) Receives FDA Approval for Ryoncil: Finally, Mesoblast celebrated a significant victory, with its treatment Ryoncil gaining FDA approval. The therapy is the first of its kind approved in the United States, aimed at young children with graft-versus-host disease who have not responded to other treatments, with 70% of trial participants showing improvement.
