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These small cap ASX shares are on the rise on Friday

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In afternoon trade the Australian share market is on course to finish the week on a positive note.

Three shares that have caught the eye at the small end of the market are listed below. Here’s why they are on the rise today:

The Alacer Gold Corp (ASX: AQG) share price is up over 5% to $2.45. This morning the gold miner provided the market with its latest quarterly activities report. During the third quarter the company achieved production of 26,160 ounces from the Çöpler Gold Mine, bringing its year to date production to 89,233 ounces. As a result, it expects to meet the lower end of its consolidated production guidance for FY 2018. Gold sales during the quarter came to US$37 million, bringing year to date sales to a total of US$124 million.

The Bionomics Ltd (ASX: BNO) share price has bounced 11.5% higher to 19.5 cents. Despite this sizeable gain, the biopharmaceutical company’s shares are still down over 60% this week. Bionomics’ shares were sold off heavily on Tuesday after the company revealed disappointing results from its phase 2 clinical trial of its BNC210 novel drug candidate in patients with Post Traumatic Stress Disorder (PTSD). The trial did not meet its primary endpoint of a decrease in PTSD symptoms as measured by Clinician-Administered PTSD Scale (CAPS-5) at 12 weeks.

The Swift Networks Group Ltd (ASX: SW1) share price has climbed 5% to 31.5 cents after the telecommunications, content and advertising solutions provider announced that it has executed a 3-year reseller agreement with healthcare software and patient engagement solutions provider Oneview Healthcare (ASX: ONE). The deal will see Swift become an entertainment solutions provider to Oneview customers across the Asia Pacific region and a preferred solutions provider on a global basis. Management believes it will significantly increase its room numbers in the healthcare sector and is targeting 4,000 new screens in the next 36 months.

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Returns as of 6th October 2020

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.

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