Stocks of the Hour: Newcrest Mining, Imagion Biosystems, Emyria

Newcrest Mining (ASX:NCM) has confirmed that it received a conditional and non-binding indicative proposal from Newmont Corporation to acquire 100% of the issued shares of Newcrest by way of a scheme of arrangement. Newcrest shareholders would be entitled to receive 0.380 Newmont shares for each Newcrest share held. Based on Newmont’s last trading price of $49.85 and the exchange rate, this represents an approximate premium of 22% on Newcrest’s trading price of $22.45. Shares are trading 10.2 per cent higher at $24.74.

Imagion Biosystems (ASX:IBX), announced that an independent blinded review by a panel of expert breast cancer radiologists has corroborated the Company’s previously reported positive findings. In response, Bob Proulx, CEO. “We now have a clear indication that our MagSense® magnetic nanoparticle technology could work with the existing medical imaging infrastructure to provide the clinical benefit to breast cancer patients we have been aiming for.” Shares are trading 31.8 per cent higher at 2.9 cents.

Emyria (ASX:EMD) expands MDMA programs following a landmark TGA decision that changes down-scheduling to Schedule 8 medicines from July 1st, 2023. In response, Emyria’s Managing Director, Dr Michael Winlo said: “Emyria is well-prepared to support the safe provision of MDMA-assisted therapies under this new change as the only ASX company with a clinical service specialising in unregistered medicines and Real-World Data generation.” Shares are trading 55.3 per cent higher at 29.5 cents.
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Source: Finance News Network