The S&P/ASX 200 Index (ASX: XJO) is continuing its positive run and pushing higher on Monday. In afternoon trade, the benchmark index is up 0.45% to 8,137.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Cettire Ltd (ASX: CTT)
The Cettire share price is down 7% to $1.47. Investors appear concerned what impact potential changes to duty-free thresholds in the United States could have on the online luxury products retailer's business model. According to the AFR, analysts at Barrenjoey estimate that the proposed legislation could disrupt Cettire's pricing advantage. This could mean slower growth and lower margins than the market has been pricing in for the company.
Immutep Ltd (ASX: IMM)
The Immutep share price is down 11% to 35.7 cents. This morning, this clinical-stage biotechnology company announced positive efficacy and safety results from the TACTI-003 Phase IIb trial. It is evaluating eftilagimod alpha (efti) in combination with antiPD-1 therapy KEYTRUDA (pembrolizumab) as a first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma patients. While the results were promising, they don't appear to have been strong enough to get the market excited.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is down 3% to $9.08. This appears to have been driven by profit taking in the uranium industry after some strong gains last week. In other news, this morning Paladin Energy revealed that the hearing to approve the acquisition of Fission Energy began on 13 September and will continue on 26 September. CGN Mining Company, a subsidiary of China General Nuclear Power Corp, holds a disclosed interest of 11.26% of the outstanding common shares of Fission and is opposing the approval of the arrangement.
Westgold Resources Ltd (ASX: WGX)
The Westgold Resources share price is down 4% to $2.76. This is despite the gold miner releasing its FY 2025 production guidance. It expects production in a range of 400,000 to 420,000 ounces for the year. This will be a big increase on the 227,237 ounces of gold it produced in FY 2024. In addition, Westgold has announced its all-in sustaining cost (AISC) guidance for FY 2025. This is expected to be in the range of A$2,000 to A$2,300 per ounce. Though, it has warned that costs are expected to be higher in the first half as its Murchison and Southern Goldfields assets work to deliver increased outputs. Some investors appear to have been expecting even better guidance.
