In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. The benchmark index is currently down 0.4% to 8,938 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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Amaero Ltd (ASX: 3DA)
The Amaero share price is up 5% to 32 cents. This has been driven by news that the high-value refractory and titanium alloy powders provider has entered a master purchasing agreement that includes a purchase order for titanium alloy powders with a value of $7.8 million. Amaero's chair and CEO, Hank J. Holland, commented: "Commercial activity across both segments of Amaero's business is strong. We are excited to secure a contract for titanium powder shipments in FY2027 that approximates total titanium powder sales in FY2026. We have been advancing numerous titanium powder opportunities over the past 6-12 months with several opportunities potentially exceeding 100 tonnes of annual demand."
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up 4.5% to $2.12. This appears to have been driven by bargain hunters swooping in following a pullback in the biotechnology company's shares this week. One broker that is likely to approve of this buying is Bell Potter. It currently has a speculative buy rating and $4.45 price target on its shares. This is more than double its current share price.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up 5.5% to $14.39. Investors have been buying the radiopharmaceuticals company's shares following the release of a major update this morning. Telix revealed that the US FDA has accepted its New Drug Application for TLX101-Px (Pixclara). It is a PET agent for imaging brain cancer (glioma). The US FDA has set a Prescription Drug User Fee Act (PDUFA) goal date of 11 September 2026. This essentially means that Telix will find out if it will be approved within the next five months.
Tivan Ltd (ASX: TVN)
The Tivan share price is up 6% to 34.2 cents. This morning, this mineral exploration company announced that it has located high-grade copper-gold mineralisation across multiple sites at the Baucau and Ossu Projects in the Democratic Republic of Timor-Leste. Tivan's executive chair, Grant Wilson, commented: "We are very pleased to share these results today, that will resonate deeply in Timor-Leste, particularly the discovery of high-grade gold. Tivan will be working closely with community and stakeholders in the Ossu and Baucau regions in the months ahead to consolidate our social license to operate and to plan forward works."
