Stocks of the Hour: PharmAust, Impact Minerals, Peregrine Gold

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PharmAust (ASX:PAA & PAAOA) announced it has received Orphan Drug Designation (ODD) from the United States Food and Drug Administration for monepantel and its treatment of Motor Neurone Disease (MND). PharmAust’s application was based on preclinical mechanistic data that demonstrates MPL can induce autophagy in diseased cells, and consideration of the pathology of the disease. Shares are trading 13.51 per cent higher at 21 cents.

Impact Minerals (ASX:IPT) has raised $3 million via a strategic placement to fund the Pre-Feasibility Study at their Hope High Purity Alumina Project. $500,000 of that will be used for exploration activities at the Arkun Project. Shares are trading 9.09 per cent lower at 2 cents.

Peregrine Gold (ASX:PGD) has announced that drilling is commencing at the Tin Can Prospect in WA. Initial drilling is planned to extend the mineralisation down plunge, followed by drilling along strike across the broader Tin Can gold in soil anomaly. Shares are flat at 29 cents.
 
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Source: Finance News Network