Stocks of the Hour: 8 August, 2022

By Finance News Network | More Articles by Finance News Network

                fnn

 

Kazia Therapeutics Limited (ASX:KZA) an oncology-focused drug development company, is pleased to announce the presentation of promising new data from an ongoing phase 1 clinical trial of paxalisib in combination with radiotherapy for the treatment of brain cancer. Shares are trading at 12 per cent higher at 28 cents.

Mesoblast (ASX:MSB) today requested voluntary suspension for its shares. Mesoblast shares went into a trading halt on August 4th to allow the capital raising to take place in an orderly fashion. Mesoblast is still trying to finalise the capital raising and needs more time to complete that process, particularly given the global nature of the placement. The company anticipates that the voluntary suspension will cease upon it announcing the outcome of the capital raising, which is expected to occur on or before Wednesday. Shares last traded at 93 cents.

BHP (ASX:BHP) today submitted a non-binding indicative proposal to the Board of OZ Minerals ( ASX:OZL) to acquire 100% of the issued share capital by way of a scheme of arrangement. BHP’s Proposal to acquire all of OZL’s shares for cash consideration of A$25.00 per share. Oz minerals board was quick to respond and rejected the bid , saying that the indicative proposal significantly undervalues OZL and is not in the best interests of shareholders. Shares in BHP are trading 0.1 per cent lower at $38.79. Shares in Oz Minerals are trading 35.4 per cent higher at $25.61.

About Finance News Network

Established in 2006, the Finance News Network is one of Australia's largest providers of online business and finance news. Our news is distributed across some of Australia’s most prominent investment platforms. The network connects investors with investment opportunities, the latest ASX news, CEO and fund manager interviews and investor webinars. Keep your finger on the pulse and stay abreast of markets. Tune in to FNN. FNN is a subsidary of Sequoia Financial Group

View more articles by Finance News Network →