Hot Stocks: PYC Therapeutics, JB Hi-Fi, Alterity Therapeutics, KALiNA Power

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A mixed US jobs report and Trump’s announcement of new 25 per cent tariffs on aluminium and steel imports sent Australian shares lower on Monday.

The ASX 200 dropped, tracking falls in US equities overnight and extending its losses in the previous session.

PYC Therapeutics (ASX:PYC) has received approval to begin human trials for PYC-003, a treatment for PKD. The Australian study will assess safety and efficacy in healthy volunteers and PKD patients, with completion expected in 12 months at a cost of $10m.
Shares are trading 0.96% higher at $1.267.

JB Hi-Fi’s (ASX:JBH) half year 25 sales rose 9.8% to $5.67bn, with net profit up 8.0% to $285.4m. All divisions grew, and net cash hit $555.1m. The company focuses on expansion and efficiency but remains cautious on market conditions. Shares are trading 0.44% lower at $102.

Alterity Therapeutics (ASX:ATH, NASDAQ: ATHE) has raised A$40m through a two-tranche share placement to institutional and professional investors. CEO David Stamler said the funds will accelerate development of ATH434, a treatment for Multiple System Atrophy (MSA), and support research into new compounds for diseases like Parkinson’s. The company aims to engage with the FDA to advance ATH434 for MSA patients. Shares are trading 8.3% lower at 1.1cents.

KALiNA Power (ASX:KPO) has secured more land in Alberta to build gas-fired power plants with carbon capture for AI data centres. Its subsidiary, KDP, added two new sites, bringing its total to 785 acres across five projects with 1.7GW potential. KDP has also applied for grid access to supply data centres and sell extra power. Shares opened flat at 0.9 cents.

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Source: Finance News Network