The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and sunk deep into the red. In afternoon trade, the benchmark index is down 1% to 7,295.1 points.
Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are charging higher:
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up 18% to $1.09. This morning, this biotech company revealed that the US FDA has accepted its Biologics License Application resubmission for remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). This isn't approval but does guarantee that the FDA will make a decision on the treatment by 2 August.
Polynovo Ltd (ASX: PNV)
The PolyNovo share price is up 3% to $2.29. This is despite there being no news out of the medical device company today. However, it is worth noting that S&P Dow Jones Indices recently announced that PolyNovo will be added to the ASX 200 index on 20 March.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price is up 3% to $1.16. This morning, the payments company revealed that Pegasus Bidco is looking into making a new takeover offer after shareholders rejected a NZ$1.34 per share proposal at a recent scheme meeting.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is up 6% to $7.88. Investors have been buying this memory technology company's shares this week after it announced the availability of its resistive RAM (ReRAM) IP in SkyWater Technology's 130nm CMOS process. This means that SkyWater customers can now integrate Weebit's non-volatile memory in their system-on-chip designs, if they wanted to.
