The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. In afternoon trade, the benchmark index is up 0.7% to 6,972.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Dimerix Ltd (ASX: DXB)
The Dimerix share price is up 20% to 18.5 cents. Investors have been buying this clinical-stage biopharmaceutical company's shares this week after it announced a licensing agreement with Advanz Pharma that could be worth up to ~$230 million. The agreement is for Dimerix's phase 3 drug candidate, DMX-200, for the treatment of focal segmental glomerulosclerosis (FSGS) kidney disease.
Evolution Mining Ltd (ASX: EVN)
The Evolution Mining share price is up 2% to $3.32. This is despite there being no news out of the gold miner. Investors appear to have been buying Evolution and other ASX gold shares today on the belief that they have been oversold in recent weeks.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is up 3% to $1.36. This has been driven by the release of the fund manager's latest funds under management (FUM) update. While GQG reported a 1.5% monthly decline in FUM for September, this compares favourably to a 3.5% decline by the ASX 200 index during the period.
Steadfast Group Ltd (ASX: SDF)
The Steadfast share price is up 1.5% to $5.58. Investors have been buying this insurance brokerage company's shares after it announced an acquisition. Steadfast is paying US$55 million to acquire ISU Group. It is one of the largest privately owned independent insurance agency networks in the United States of America. The deal is expected to be earnings per share accretive from the date of acquisition.