The S&P/ASX 200 Index (ASX: XJO) is having a decent session on Tuesday. At the time of writing, the benchmark index is up 0.4% to 8,848.9 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Clinuvel Pharmaceuticals Ltd (ASX: CUV)
The Clinuvel Pharmaceuticals share price is up over 3% to $11.58. Investors have been buying the specialty pharmaceuticals company's shares after the European Medicines Agency (EMA) agreed to amend the label for its photoprotective drug SCENESSE (afamelanotide). This change will allow adult erythropoietic protoporphyria (EPP) patients to receive the treatment every two months, removing the recommended maximum annual dose of four implants per year. Clinuvel's chief scientific officer, Dr Dennis Wright, said: "We are pleased that the CHMP's positive opinion will enable EPP patients to receive year-round treatment for this very debilitating condition. There was a strong logic to removing the maximum dose restriction in Europe, which has now been validated by the CHMP. It also harmonises the label with the USA."
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 8% to $3.58. This has been driven by news that the counter drone technology company is significantly expanding its research and development (R&D) operations in the United States. DroneShield USA's CEO, Matt McCrann, said: "As we continue to scale our operations globally, this expansion in the U.S. plays a crucial role in enhancing our ability to innovate and deliver advanced solutions for the evolving defense industrial base right here in the U.S. We're investing in the future of defense, and our growing footprint and impact in the U.S. market directly supports that effort."
Nuix Ltd (ASX: NXL)
The Nuix share price is up over 5% to $2.84. This follows the investigative analytics and intelligence software provider's investor day event. At the event, the company talked up its AI opportunity. Its CEO, Jonathan Rubinsztein, said: "The future of Nuix is bright, built on this foundation of excellence in data processing, analysis and a holistic approach to AI. We're excited about the momentum we're building and look forward to continuing to deliver value for our customers and shareholders."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up 7% to $16.02. Investors have been buying this radiopharmaceuticals company's shares following the release of an announcement. Telix revealed that the United States Centers for Medicare & Medicaid Services has granted Transitional Pass-Through payment status for Gozellix. It is Telix's next generation PSMA-PET1 imaging agent for prostate cancer. Telix's CEO of Precision Medicine, Kevin Richardson, said: "Granting TPT status for Gozellix is a strong endorsement of the clinical value of our next-generation imaging agent. Gozellix is already available nationally, and this reimbursement milestone will reduce the out-of-pocket burden for patients, enhance patient access to advanced prostate cancer imaging and simplify payment for providers."
