The All Ordinaries (Index: ^AXAO) (ASX: XAO) may have returned to form today with a solid gain, but this pales in comparison to some of the gains being made at the small end of the market.
Here's why these small cap shares are on the rise today:
The Imugene Limited (ASX: IMU) share price has jumped 9% to 2.4 cents after the clinical stage immuno-oncology company announced that it has completed the recruitment for its Phase 1b clinical trial of the HER-Vaxx cancer vaccine in HER-2 gastric cancer patients. The ongoing trial is testing three different doses in combination with current standard of care chemotherapy Cisplatin and either Fluorouracil or Capecitabine. Management expects to complete the analysis in the coming months before establishing the optimal dose for a larger Phase 2 study. This is positive news but a little soon to invest in my opinion.
The Medlab Clinical Ltd (ASX: MDC) share price has risen almost 7% to 48 cents after advising that it has received a licence to export cannabis from the Office of Drug Control in Canberra. The licence relates to its two cannabis-based medicines, NanaBis and NanaBidial. Both products utilise Medlab's patented NanoCelle delivery platform which allows the delivery of nano particles of the active pharmaceutical ingredients into the side of the cheek. The company is targeting the chronic disease market.
The Slater & Gordon Limited (ASX: SGH) share price has zoomed 14% higher to $2.80 after the embattled law firm announced its Get Your Super Back campaign. Slater and Gordon aims to bring big bank-owned super funds to account, saying the funds owe Australians more than one billion dollars. The law firm indicated that Commonwealth Bank of Australia (ASX: CBA) owned Colonial First State and struggling financial services company AMP Limited (ASX: AMP) are likely to be the first targets in a series of legal actions.