Stocks of the Hour: Antisense Therapeutics, Thorn Group, Mt Monger Resources

Company News

by Abbey Phillipps

Antisense Therapeutics (ASX:ANP) today advised of outcomes from its collaboration to study the neurological aspects of Long COVID 19 with US based researchers led by global leader in the field, Dr Igor Koralnik, at the Northwestern Medicine Neuro-COVID clinic in Chicago. The study has clarified novel blood markers as potential diagnostic and therapeutic targets in the treatment of long COVID-19 patients. Three provisional patent applications have been filed in the US to seek protection for these new inventions. Dr George Tachas Director of Drug Discovery at Antisense Therapeutics said, “We’re delighted to report on the initial outcomes from this novel and leading scientific collaboration with Professor Koralnik and his team. He also added that the data has identified potential new avenues towards diagnoses and treatment of a disease that has negatively impacted the lives of over a hundred million people around the world. Shares are trading 18.2 per cent higher at 13 cents.

Thorn Group (ASX:TGA) today announced a Special Dividend and proposed Capital Return and Share Consolidation. Following the sale of Radio Rentals and the recent restructure, management has continued to assess capital management initiatives and Thorn’s ability to return surplus funds to shareholders. On the recommendation of Thorn’s management, the directors have declared a fully franked special dividend of $0.03 cents per share, with the directors considering a further $0.12 per share return of capital. Collectively, shareholders have already received a total return of capital of approximately $52.6 million for the last two financial years. Shares are trading 14.6 per cent higher at 32 cents.

Mt Monger Resources (ASX:MTM) has received assay results from its recent aircore drilling campaign at the Pt Kidman prospect, in Western Australia . Drilling has successfully intersected significant widths and grades of rare earth element mineralisation in all areas that were tested. Commenting on the results of the drilling program, Managing Director Lachlan Reynolds stated: “These assays confirm the presence of shallow, rare earth element mineralisation across three broad areas of the Pt Kidman prospect. Shares are trading 24 per cent higher at 15 cents.

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