In late trade on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small gain. At the time of writing, the benchmark index is up 0.1% to 8,972.1 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Bank of Queensland Ltd (ASX: BOQ)
The Bank of Queensland share price is down 6.5% to $7.36. The catalyst for this has been the release of the regional bank's strategy and trading update. In respect to the latter, management revealed that it expects to report cash earnings after tax in the range of $375 million to $385 million in FY 2025. This will be up 9% to 12% on FY 2024. However, there are also expected to be a number of notable items. This includes branch strategy costs totalling $43 million, restructuring costs of $25 million, and a $14 million increase in provisions relating to its remedial action plan.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is down 8% to 11 cents. This has been driven by news that the lithium miner has received firm commitments to raise gross proceeds of $50 million at a discount of $0.105 per new share. Core CEO Paul Brown said: "We are very pleased with the strong support received from new institutional investors across the Americas and Australia for this heavily supported placement. This funding milestone strengthens our balance sheet and provides the capital to advance the Finniss Lithium Project towards a positive Final Investment Decision."
Ramsay Health Care Ltd (ASX: RHC)
The Ramsay Health Care share price is down 11% to $33.79. Investors have been selling this private hospital operator's shares after it released its FY 2025 results. Ramsay revealed a 5.1% increase in revenue to $17.791.6 million but a whopping 95.3% decline in profit after tax to $24 million. The better news is that Ramsay's CEO, Natalie Davis, appears upbeat about the company's future. She said: "Having committed to take decisive action to improve performance, accelerate transformation and improve returns, I am pleased to report that we are making good progress."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is down 18% to $15.13. This morning, the radiopharmaceuticals company revealed that it has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) for the Biologics License Application (BLA) for TLX250-CDx. It is an investigational PET2 agent for the diagnosis and characterization of renal masses as clear cell renal cell carcinoma (ccRCC). Unfortunately, it confirmed that the "CRL identifies deficiencies relating to the Chemistry, Manufacturing, and Controls (CMC) package. The FDA has requested additional data to establish comparability between the drug product used in the ZIRCON Phase 3 clinical trial and the scaled-up manufacturing process intended for commercial use."
