The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Thursday. In afternoon trade, the benchmark index is up 0.9% to 8,817.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
4DMedical Ltd (ASX: 4DX)
The 4D Medical share price is up a further 22% to $1.41. Investors have been fighting to get hold of this respiratory imaging technology company's shares this month after it released some big news. The first was that its ventilation-perfusion product, CT:VQ, has received U.S. Food and Drug Administration (FDA) 510(k) clearance. Its second announcement revealed that the U.S. Centers for Medicare & Medicaid Services (CMS) have confirmed that reimbursement for the software falls under Category III Current Procedural Terminology (CPT) codes 0721T and 0722T, and will be paid at US$650.50 per scan, effective immediately. The company notes that this is "accelerating the path to broad market adoption" of the technology.
Austal Ltd (ASX: ASB)
The Austal share price is up 3.5% to $7.98. This morning, this shipbuilder announced that the United States Coast Guard has exercised options worth US$314 million (A$480 million) with Austal USA for the Offshore Patrol Cutter (OPC) program. The 110 metre OPCs will support US national security strategy by maintaining the nation's economic, social, environmental and military security mission areas. Austal CEO, Paddy Gregg, said: "These early awards reflect the strong partnership that has quickly developed between the Coast Guard and Austal USA teams, and provide an important sign of intent for OPCs 3-6."
Iress Ltd (ASX: IRE)
The Iress share price is up 6% to $9.01. This follows news that the financial technology company has appointed Andrew Russell as its new group CEO and managing director effective 17 November 2025. He will succeed Marcus Price, who has been with the company since 2022. Iress chair, Roger Sharp, said: "The next phase of our strategy will be intensely product and client-focused, and we are very pleased to have appointed a leader as experienced as Andrew in this domain. Andrew is an experienced CEO with a proven track record in delivering shareholder value and building trusted relationships with clients, investors and employees."
Metallium Ltd (ASX: MTM)
The Metallium share price is up 9.5% to 80.5 cents. This morning, this metals recovery company announced the appointment of Travis Langster, former U.S. Deputy Assistant Secretary of Defense, to the Advisory Board of Flash Metals USA Inc. It is the company's 100%-owned U.S. subsidiary. CEO Michael Walshe, commented: "We are delighted to welcome Travis to our Advisory Board. Travis brings a unique combination of U.S. defense leadership, international policy expertise, and strong industry connections across the electronics and semiconductor supply chains. His background in fortifying the U.S. defense industrial base and shaping space and missile defense policy will be invaluable as Metallium executes its strategy to assist the U.S. effort to secure and process a domestic supply of critical and strategic metals."
