In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and sinking deep into the red. At the time of writing, the benchmark index is down 1.5% to 8,508.3 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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EBR Systems Inc (ASX: EBR)
The EBR Systems share price is up 4% to 72 cents. This follows the release of the medical device company's quarterly update. EBR Systems' president and chief executive officer, John McCutcheon, was pleased with the progress the company is making. He said: "2025 marked a defining year for EBR as we successfully transitioned from a development-stage company to a commercial medical device business. Achieving FDA approval for the WiSE CRT System in April and initiating our U.S. commercial launch were transformational milestones that position EBR at the forefront of leadless cardiac resynchronisation therapy."
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up a further 3% to $10.01. This defence and space company's shares have been rebounding after a major sell-off on Tuesday. The catalyst for this was news that the company's CEO, Dr Andreas Schwer, was given approval to sell 2.5 million EOS shares on-market following the exercise of options that were granted under a long-term incentive plan. Some investors may believe the selling was an overreaction, especially after its CEO committed to retain a shareholding well above the minimum levels required under its recently announced shareholding policy.
Racura Oncology Ltd (ASX: RAC)
The Racura Oncology share price is up 21% to $2.89. Investors have been buying this oncology company's shares after it announced the successful dosing of a patient in Hong Kong with its RC220 cancer compound. Importantly, there has been no vein inflammation or other adverse events reported following the dosing. Racura's CEO, Dr Daniel Tillett, said: "The safe dosing of the third patient in our RC220 solid tumour trial in Hong Kong and recruitment of the first dose escalation cohort is an important milestone for Racura Oncology. We are grateful to all the patients, investigators, and clinical teams who have made this trial possible and we look forward to treating patients on the updated protocol."
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up 6% to $33.44. This has been driven by another rise in oil prices overnight amid concerns over the impact of the war in the Middle East on supplies. It isn't just Woodside that is rising today. The S&P/ASX 200 Energy index is up 4.9% at the time of writing.
