The market may have sunk sharply lower again today, but not all shares have followed it into the red.
Three small cap shares making solid gains today are listed below. Here's why they are on the rise:
The Biotron Limited (ASX: BIT) share price has continued its remarkable run and is up a further 47% to 9.1 cents. This latest gain means the drug developer's shares have risen around 350% since Thursday of last week. The catalyst for this rise was a successful outcome for the BIT225- 009 Phase 2 trial of its lead drug BIT225 in HIV-infected patients in combination with current antiretroviral drugs. According to the release, the data demonstrated that there are significant immunological benefits in patients receiving antiretroviral drugs with 200 mg BIT225 compared to antiretroviral drugs plus placebo. The company aims to present detailed data at scientific conferences and to potential commercial partners in late 2018 or early 2019.
The Eden Innovations Ltd (ASX: EDE) share price has jumped 12% to 5.6 cents. Last week the concrete manufacturer's shares rocketed higher after it advised of its first Federal funded highway repair project in Georgia, United States. The company's EdenCrete product will be used to replace numerous sections of concrete pavement along 11 miles of the Interstate Highway I-16 in Twiggs County. Management estimates that the job will be worth US$525,000, making it the largest individual contract for EdenCrete to date.
The iSignthis Ltd (ASX: ISX) share price has risen 3.5% to 15 cents. This morning the RegTech company announced that it has entered into a card not present/online agreement with Union Pay International to act as a card acquirer of China Union Pay issued cards. Management has advised that it is required to complete full membership requirements, including technical integration and certification, before offering the service to merchants. It expects that certification and the availability of the service to Australian merchants will be by end of first quarter 2019. Card acquiring involves the movement of money within a financial network of interconnected payment services.
