In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a disappointing decline. At the time of writing, the benchmark index is down 0.55% to 6,976.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
AVITA Medical Inc (ASX: AVH)
The Avita Medical share price is up 16% to $3.68. This follows the release of the regenerative medicine company's third-quarter update. It reported a 51% increase in commercial revenue to US$13.5 million for the three months. And while it is still making a loss, management believes it is has sufficient cash to see it through to profitability in 2025.
Imugene Limited (ASX: IMU)
The Imugene share price is up 4.5% to 11.5 cents. Investors have been buying this biotechnology company's shares after it announced a major milestone. Imugene's major milestone is the dosing of the first patient in a Phase 1b clinical trial using azer-cel, manufactured and supplied from its state-of-the-art facility in North Carolina.
Pantoro Ltd (ASX: PNR)
The Pantoro share price is up 23% to 4.8 cents. This has been driven by news that the gold miner has sold its lithium and base metal rights from the Norseman Gold Project to Mineral Resources Ltd (ASX: MIN) for up to $60 million. Management commented: "This transaction provides Pantoro with strong immediate value for minerals which have not yet been identified in economic quantities at Norseman."
Tietto Minerals Ltd (ASX: TIE)
The Tietto share price is up 2% to 59 cents. This morning, the gold miner released an update on its proposed takeover by Zhaojin. Once again, it unanimously recommends that shareholders take no action. The company's board believe the 58 cents per share offer "materially undervalues Tietto."
