In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.6% to 7,037.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Imugene Limited (ASX: IMU)
The Imugene share price is up over 23% to 10 cents. This means the biotechnology company's shares are now up over 130% since this time last week. This has been driven by promising results Phase 1 MAST (Metastatic Advanced Solid Tumours) trial which is evaluating the safety and efficacy of novel cancer-killing virus CF33-hNIS (VAXINIA).
Lottery Corporation Ltd (ASX: TLC)
The Lottery Corporation share price is up 1.5% to $4.66. Investors have been buying this lottery operator's shares after they were upgraded by analysts at Macquarie. The broker has upgraded them to an outperform rating with a $4.95 price target. It made the move on valuation grounds.
Orica Ltd (ASX: ORI)
The Orica share price is up 4% to $15.63. This morning, this commercial explosives and blasting systems provider released its full-year results and reported a 12% increase in sales revenue to $7,945.3 million and a 24% lift in EBIT from continuing operations to $698.1 million. A final dividend of 25 cents per share was declared.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up 4% to 90.5 cents. Investors have responded positively to the release of this lithium miner's five pillar strategy update. The strategy includes optimising operations, expanding its resource base, developing assets, integrating downstream, and exploring strategic partnerships. Interim CEO, James Brown, said: "We are confident that this strategy will generate significant, long-term value for Sayona's shareholders, employees, joint venture partners and community stakeholders."
