In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.8% to 8,629.6 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up 6% to $2.36. This has been driven by news that the respiratory imaging technology company has received regulatory approval for its CT:VQ product. It is the world's first and only non-contrast, CT-based ventilation-perfusion imaging solution. Management notes that this approval marks a significant expansion of 4DMedical's presence in North America. This approval allows immediate commercial deployment of CT:VQ across Canada through the company's strategic partnership with electronics giant Philips.
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 25% to $6.27. Investors have been scrambling to buy this defence and space company's shares after it made a big announcement. EOS revealed that it has signed a binding conditional contract worth $120 million to manufacture and supply a 100kW high energy laser weapon to a company in the Republic of Korea. This conditional contract represents the second export order for a 100kW class laser defence system, following a first export order to a Western European customer earlier this year.
Gorilla Gold Mines Ltd (ASX: GG8)
The Gorilla Gold Mines share price is up 9% to 51.2 cents. This follows news that the gold developer has upgraded the estimated mineral resource for its Comet Vale project to 860,000 ounces of contained gold. Gorilla Gold's CEO, Charles Hughes, said: "The Comet Vale Project is rapidly emerging as a camp-scale gold development project, with this resource update incorporating the three new, high-grade discoveries that Gorilla has made within the project area over the past year."
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 2.5% to $19.45. Investors have been bidding this pharmaceutical company's shares higher after it received FDA approval for a new product. The regulator has given the thumbs up to Daybue STIX, which is a dye- and preservative-free powder formulation of trofinetide for the treatment of Rett syndrome. Neuren's CEO, Jon Pilcher, said: "The Neuren team is excited about the approval of this new treatment option for Rett syndrome families and the continued investment and innovation for trofinetide by our global partner, Acadia."
