Stocks of the Hour: Imugene, Centrepoint Alliance & Tamboran Resources

Company News

by Lauren Evans

Imugene (ASX:IMU) has posted positive overall survival data from its phase 2 study of its HER-Vaxx for patients with advanced gastric cancer. Chief executive officer Leslie Chong said, “I am delighted to report that we have achieved this statistical significant outcome and milestone. Our HER-Vaxx arm had a median overall survival benefit of 5.6 months as compared to chemotherapy.“ Shares are trading 22.7 per cent higher at 20 cents.

Centrepoint Alliance (ASX:CAF) has received a non-binding takeover offer from listed financial services company Diverger, which continues the consolidation within the financial advice industry. The offer values Centrepoint at $63.5 million through a combination of cash and Diverger stocks, pitching its offer at 32.5 cents per CAF share and a 30 per cent premium to the last trading price. Diverger enters the takeover battle with a 19.99 per cent pre-bid interest, obtained via a call option with major Centrepoint shareholder Thorney Group. Shares in Centrepoint Alliance are trading 22.7 per cent higher at 27 cents.

Tamboran Resources (ASX:TBN) has signed a binding agreement with Jemena which secures access to Jemena’s Northern Gas Pipeline. Tamboran will contract around 100 terajoules per day, which will support the sanctioning of the proposed Maverick Pilot Development. Chief executive officer Joel Riddle said, “it is strategically important for Tamboran to secure access to the Jemena-owned Northern Gas Pipeline, an important piece of infrastructure and currently the only gas pipeline route connecting the Northern Territory to Australia’s East Coast gas market.” Shares are trading 4.6 per cent higher at 23 cents.

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