2 ASX All Ords shares going gangbusters on Monday

The All Ords are making their shareholders smile on Monday…

| More on:
A young female ASX investor sits at her desk with her fists raised in excitement as she reads about rising ASX share prices on her laptop.

Image source: Getty Images

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

The All Ordinaries (ASX: XAO) may be starting the week in the red, but that hasn't stopped a couple of shares from hurtling higher.

Here's why these ASX All Ords shares are on form on Monday:

Incannex Healthcare Ltd (ASX: IHL)

The Incannex share price is up 14% to 20.5 cents. This is despite there being no news out of the cannabis and psychedelics company today.

Though, it is worth noting that the company recently announced that the PsiGAD1 clinical trial has achieved its interim milestone of 29 patients completing primary endpoint assessments, and independent analysis of the interim study data has commenced.

This trial is assessing Incannex's psilocybin-assisted psychotherapy for the treatment of generalised anxiety disorder (GAD). The company notes that the treatment of GAD with currently accepted medications and therapies remains inadequate, with less than half of patients achieving remission. Positively, psilocybin-assisted psychotherapy has shown promise in the treatment of several mental health conditions.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price has jumped 11% to $1.16. Once again, this is despite there being no news out of the regenerative medicine company this morning.

However, investors have been fighting to get hold of the company's shares in recent sessions thanks to a promising announcement from last week. That announcement revealed that it has resubmitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA).

This is for the approval of remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). The resubmission contains substantial new information as required by the FDA. Investors appear optimistic that this might be enough to finally get the thumbs up from the regulator.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

These ASX shares are ending the week on a high. But why?

Read more »

Smiling elderly couple looking at their superannuation account, symbolising retirement.
Share Gainers

These were the best performing ASX 200 shares in February

These shares were making their shareholders smile last month.

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

Why Harvey Norman, Macquarie Technology, Ramsay Health Care, and Star are rising

These ASX shares are having a strong day. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Should I buy Nvidia stock as an Australian investor?

Many Aussies are thinking of jumping on the bandwagon, but they need to think about these issues first.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough day for ASX 200 investors this Wednesday.

Read more »

A woman's hair is blown back and her face is in shock at this big news.
Share Gainers

Why APM, DroneShield, EOS, and NextDC shares are charging higher

These ASX shares are having a strong session on Wednesday. But why?

Read more »

A happy businessman pointing up, inidicating a rise in share price
Materials Shares

Why are ASX lithium shares like Liontown having such a bumper session today?

Lithium shares are defying the broader market on Wednesday.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

This ASX All Ords stock just surged 88% in less than 3 days! Any guesses?

The ASX All Ords stock is drawing intense buying interest from investors this week.

Read more »