Stocks of the Hour: Rhythm Biosciences, The a2 Milk Company, Norfolk Metals
Rhythm Biosciences Ltd (ASX:RHY) confirmed this morning the expansion of its international regulatory footprint, having successfully registered ColoSTAT® with the New Zealand national database of Medical Devices, which allows the lifesaving cancer detection technology to be marketed and sold in the country. Rhythm CEO and Managing Director, Glenn Gilbert commented: “Rhythm is pleased to expand its international regulatory approval footprint into New Zealand which enables the Company to commence marketing and sales activities for ColoSTAT® . Bowel cancer is the second highest cause of cancer death in New Zealand and a growing issue with 1 in 10 now diagnosed under the age of 50. ColoSTAT® is a simple blood test which has the potential to make a material impact on health outcomes through mass screening for higher participation to achieve early diagnosis.” Shares are trading 10.5 per cent higher at $1.26.
The a2 Milk Company (ASX:A2M) advised today that the United States Food and Drug Administration, the FDA, has approved a2MC to import, sell and distribute infant milk formula product from New Zealand into the US. The a2 Milk Company’s Managing Director and CEO, David Bortolussi, said: “We are pleased to be able to assist parents and caregivers in the US by providing access to significant volumes of high quality, a2 Platinum® infant and toddler milk formula manufactured in New Zealand during this challenging period. a2MC is well positioned to support this initiative being one of the leading premium international infant milk formula brands with annual sales exceeding 30 million cans. We have scalable production capacity in New Zealand with Synlait plus existing a2MC US sales, marketing and supply chain capability that can be leveraged.” Shares are trading 7 per cent higher at $5.64.
Norfolk Metals Ltd (ASX:NFL) provided an update on the Company’s maiden drilling program today at the Roger River Project, located in the north-western region of Tasmania. In the program, copper and sulphide mineralisation were intersected in the maiden drill test of coincident gravity and magnetic anomalies at their project. The assay results are expected to come in December of 2022. Commenting on the results, executive chairman Ben Phillips said: “NFL’s prospectus stated that the Roger River Fault copper occurrences are poorly understood and would require work; we look forward to exploring this virgin fault via our defined targets.” Shares are trading 92.6 per cent higher at 26 cents.
Copyright 2022 – Finance News Network
Source: Finance News Network
