In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and on track to record a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 8,664.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Dimerix Ltd (ASX: DXB)
The Dimerix share price is up 3.5% to 57 cents. Investors have been buying this biopharmaceutical company's shares following the release of its quarterly update. Dimerix achieved cash receipts of $51 million for the quarter. This was driven by the signing of a license agreement for DMX-200 with Amicus Therapeutics in the United States. Looking ahead, management reminded investors that the agreement could see Dimerix receive up to US$590 million (~AU$940 million) in upfront, development, and sales milestone payments, plus royalties.
Newmont Corporation (ASX: NEM)
The Newmont share price is up over 3% to $94.98. This follows the release of the gold mining giant's second quarter update. Newmont posted net income of US$2.1 billion for the three months. Management notes that this means the company is on track to achieve its guidance for FY 2025. CEO Tom Palmer said: "Newmont delivered a strong second quarter, producing approximately 1.5 million attributable gold ounces and generating an all time record quarterly free cash flow of $1.7 billion, underscoring the strength of our world-class portfolio and the disciplined execution of the commitments we shared at the beginning of the year. We remain firmly on track to achieve our 2025 guidance as we continue to strengthen our safety culture, stabilize our operations and deliver long term value to shareholders."
Regal Partners Ltd (ASX: RPL)
The Regal Partners share price is up almost 4% to $2.76. This has been driven by the release of the fund manager's latest funds under management (FUM) update. For the three months ended 30 June, Regal Partners reported a 7% increase in FUM to $17.7 billion. Management notes that the increase in FUM was driven by a combination of continued net client inflows and positive investment performance across a wide range of investment strategies.
Titomic Ltd (ASX: TTT)
The Titomic share price is up 6.5% to 27.7 cents. This morning, the manufacturing company revealed that it has raised $50 million via a non-underwritten placement to new and existing institutional and sophisticated investors. These funds were raised a 25 cents per share, which represents a modest 3.8% discount to its last close price. Titomic's CEO, Jim Simpson, said: "We look forward to using the proceeds raised to accelerate Titomic's expansion, enabling the Company to sustain its momentum across key growth initiatives while reinforcing its global footprint."
