Much to the relief of investors, the Australian share market has bounced back on Wednesday and the All Ordinaries is up 0.2% at the time of writing.
While this is positive, it pales in comparison to some of the gains being made at the small end of the market.
Three small caps that have caught the eye with strong gains today are listed below:
The Biotron Limited (ASX: BIT) share price has continued its incredible run and is up a further 35% to 13.5 cents. Investors have been fighting to get hold of Biotron’s shares since the drug developer announced positive results from 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. I think Biotron is well worth keeping a close eye on.
The Linius Technologies Ltd (ASX: LNU) share price has stormed 11% higher to 7.2 cents. Investors have responded positively to news that the video virtualisation engine provider has launched a software-as-a-service (SaaS) platform that makes its patented technology commercially available to the world. The company’s CEO, Chris Richardson, believes that the Linius Video Services platform “is a critical step towards achieving our goal of scaling rapidly and making the world’s video accessible as data.” He added that: “Organizations and individuals across all video-rich market sectors can now instantly access our video virtualization technology and unleash the value of their video assets.”
The Yowie Group Ltd (ASX: YOW) share price has surged 11.5% to 14.5 cents following the release of the confectionery company’s first quarter update. According to the release, Yowie achieved cash receipts of $5 million during the quarter. Although this was a decline of over 12% on the prior corresponding period, investors appear to be pleased with the way the company has slashed its staff, administration, and corporate costs. This allowed Yowie to post positive operating cash flow of $581,000. While this is certainly a step in the right direction, I think it is a little too soon to get excited.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.