2 ASX shares roaring higher on big news

Investors are pleased with these announcements. Let's find out why.

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The market may have run out of steam on Wednesday, but not all ASX shares are falling.

Two that are catching the eye of investors and roaring higher this morning are listed below.

Here's why investors have been buying their shares today:

DUG Technology Ltd (ASX: DUG)

The DUG Technology share price is up 7% to $2.67 after investors responded positively to an announcement out of the analytical software developer.

DUG Technology delivers innovative software products and cost-effective, cloud-based high-performance (HPC) computing as a service backed by tailored support for technology onboarding. Its expertise in algorithm development and code optimisation allows its clients to leverage big data and solve complex problems.

According to the announcement, the company has received delivery of the 1,500 AMD EPYC Genoa machines announced in February. As a result of the RAM upgrades to its existing machines and other purchases, DUG is no longer incurring third-party compute costs.

The ASX tech share's managing director, Dr Matthew Lamont, was pleased with the news. He said:

I am pleased to see our HPC capabilities grow in response to the demand we see moving forward. These are good times!

In February, Dr Lamont noted that the "AMD machines are needed to accelerate delivery of both current and imminent projects, and to support the unprecedented demand we continue to see moving forward."

Imugene Ltd (ASX: IMU)

The Imugene share price is up almost 8% to 5.5 cents. This morning, this clinical stage immune-oncology company announced that the first patient has been dosed in its trial for bile tract cancer (cholangiocarcinoma) patients.

This trial is an expansion of the MAST (Metastatic Advanced Solid Tumours) Phase 1 trial after early responses were observed in gastrointestinal cancers, and particularly cholangiocarcinoma, using Imugene's cancer-killing virus CF33 (Vaxinia).

Bile tract cancer is a rare disease in which malignant cancer cells form in the bile ducts. It is known to be difficult to treat and responds poorly to immunotherapy drugs. A total of 10 patients will be enrolled in the trial.

The ASX share's managing director and CEO, Leslie Chong, appears optimistic that Vaxinia could be effective in treating bile tract cancer. She said:

Given the results we've seen to date we are eager to see the potential of VAXINIA in bile tract cancer. We look forward to now advancing to the higher doses in the trial to gather further key data and make a genuine difference to patients in need of innovative treatment options.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Dug Technology. The Motley Fool Australia has recommended Dug Technology. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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