Why Afterpay, Clinuvel, Mayne Pharma, & ResApp shares charged higher today

The Clinuvel Pharmaceuticals Limited (ASX:CUV) share price and the Mayne Pharma Group Ltd (ASX:MYX) share price are two of four charging higher on Wednesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 index has followed the lead of U.S. markets and is on course to record a disappointing decline. At the time of writing the benchmark index is down 1.3% to 6,656.8 points.

Four shares that have defied the market selloff and charged higher today are listed below. Here's why they are on the rise:

The Afterpay Touch Group Ltd (ASX: APT) share price is up almost 2% to $35.90 despite there being no news out of the fast-growing payments company. However, its shares have been on a tear over the last couple of weeks thanks to bullish broker notes and a positive update on its dealings with AUSTRAC.

The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is up 4% to $25.75 following an FDA review update. According to today's release, the FDA has notified the company that the Prescription Drug User Fee Act goal date for review of the submission of the SCENESSE scientific dossier has been confirmed as October 8. This means this time next week the company may finally have a decision on whether the product can go on sale in the United States.

The Mayne Pharma Group Ltd (ASX: MYX) share price has rocketed 17% higher to 62 cents. Investors have been buying the pharmaceutical company's shares after it revealed a major agreement with Mithra Pharmaceuticals. According to the release, Mayne Pharma has signed a 20-year exclusive supply and license agreement with Mithra Pharmaceuticals to commercialise a novel oral contraceptive comprising estetrol and drospirenone in the United States.

The ResApp Health Ltd (ASX: RAP) share price has returned from its trading halt and raced 9% higher to 27 cents. This morning the company announced that ResAppDx-EU has received Australian Therapeutics Goods Administration approval as a Class IIa medical device and is now listed on the Australian Register of Therapeutic Goods. ResAppDx-EU is the world's first smartphone-based diagnostic test for acute paediatric respiratory disease.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. 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.

More on Share Gainers

three men stand on a winner's podium with medals around their necks with their hands raised in triumph.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another red day on the markets this Wednesday.

Read more »

Multiracial happy young people stacking hands outside - University students hugging in college campus - Youth community concept with guys and girls standing together supporting each other.
Share Gainers

Why 4DMedical and these ASX shares are up 200%+ in just a year

These shares have made their shareholders wealthy over the past year.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Evolution Mining, Lynas Rare Earths, Paladin Energy, and Sovereign Metals shares are racing higher today

These shares are having a good session on hump day. But why?

Read more »

A young well-dressed couple at a luxury resort celebrate successful life choices.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors kept up the selling this session.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough start to the week for investors.

Read more »

Beautiful young woman drinking fresh orange juice in kitchen.
Share Gainers

Why Catalyst Metals, Lynas, Polynovo, and St George Mining shares are pushing higher today

These shares are starting the week with a bang. But why?

Read more »

A few gold nullets sit on an old-fashioned gold scale, representing ASX gold shares.
Gold

Guess which surging ASX gold share is leaping another 18% today on high-grade results

Investors are piling into this small-cap ASX gold share today. But why?

Read more »

Concept image of a businessman riding a bull on an upwards arrow.
Share Gainers

4 ASX 200 stocks smashing the benchmark this week

Investors have been bidding up these four ASX 200 stocks this week. But why?

Read more »