The S&P/ASX 200 Index (ASX: XJO) has dropped into the red on Wednesday. In afternoon trade, the benchmark index is down 0.5% to 7,221.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Immutep Ltd (ASX: IMM)
The Immutep share price is up 6% to 35 cents. This morning, this biotechnology company released promising new clinical data from a study evaluating eftilagimod alpha (efti) in conjunction with standard-of-care anti-PD-1 therapy and doublet chemotherapy (carboplatin/pemetrexed). The company notes that its use in first line non-small cell lung cancer is well tolerated and continues to show promising initial signals of efficacy.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up 4% to 79.2 cents. This has been driven by a promising exploration update from its Goulamina lithium project in Mali. According to the update, the company's ongoing drilling campaign has returned thick high-grade mineralisation outside of the current resource.
Playside Studios Ltd (ASX: PLY)
The Playside share price is up 6% to 36 cents. This follows news that the video game company's publishing division has signed its first title. Playside has snapped up Rocket Flair Studios' Dynasty of the Sands. It advises: "Set to launch in Early Access on PC in 2024, Dynasty of the Sands is an Ancient Egypt-inspired creative/survival city builder hybrid set in a stunning open world."
Webjet Limited (ASX: WEB)
The Webjet share price is up 4% to $7.59. Investors have been buying this online travel agent's shares today after its FY 2023 results smashed expectations. For the 12 months ended 31 March, Webjet delivered a 164% increase in revenue to $364.4 million. This was underpinned by a 115% lift in bookings and a 165% jump in TTV. The company also reported an underlying net profit after tax of $69.9 million. This is up from a $35 million loss in FY 2022.
