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Why the DroneShield (ASX:DRO), BrainChip (ASX:BRN) and Recce (ASX:RCE) share prices are rising today

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Today has been very strong for a range of ASX sectors after yesterday’s market fall. We’ve seen the share prices of a number of innovative ASX growth companies rise today, including the 3 listed below.

DroneShield Ltd (ASX: DRO)

The Droneshield share price is up by 23.33% at time of writing.

The company provides non-ballistic detect and disrupt technology for defending against drones. It recently announced it had obtained funding from the US Department of Defence (DoD) for enhancements to its DroneShieldComplete Command-and-Control (C2) system. Previously, the company had made several announcements. First, relating to sales to 2 European nations, and second, to a successful deployment in a mid-sized European airport. This has also had an impact on the company’s share price.

At the conclusion of the project to enhance the DroneShieldComplete C2, the company anticipates selling additional products to the US DoD. DroneShield CEO Oleg Vornik said the project underscored the company’s leadership not only as a product/sensor manufacturer, but also as an integrator of fixed site and mobile counter unmanned aircraft systems.

Recce Pharmaceuticals Ltd (ASX: RCE)

Recce (pronounced Recky) is a medical research company developing a new range of synthetic antibiotics. Unlike current approaches, Recce’s products kill bacteria instead of inhibiting growth, enabling multiple use without a reduction in potency. 

Today the company announced it has selected South Australia’s CMAX Clinical Research as its independent trial facility. The laboratory will conduct a phase I clinical study of Recce’s lead compound RECCE 327.

This is a controlled ascending dose study of 48 healthy adult subjects, resulting in an evaluation of the safety and tolerability of the product after intravenous use. In response to the news, the Recce share price has risen by 3.14% at the time of writing. 

Brainchip Holdings Ltd (ASX: BRN)

The BrainChip share price is up by 3.33% at the time of writing, and has risen by 73.33% over the past 5 days.

BrainChip is an artificial intelligence (AI) company that has recently completed construction of the wafer of its newest product, a neuromorphic chip designed to mimic the human brain and sensory system.

The company has announced 2 proof of concept partnerships.

First, with Magik Eye Inc to combine AI with the Magik Eye’s 3D sensing. This partnership will be targeting gesture recognition in a wide array of gaming and consumer products. Second, the Brainchip share price jumped 54% after the company announced a partnership with VORAGO Technologies to support a phase 1 project for NASA.

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Motley Fool contributor Daryl Mather owns shares of Recce Pharmaceuticals Ltd. 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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