Stocks of the Hour: OZ Minerals, Chimeric Therapeutics, AGL Energy

Company News

by Melissa Darmawan

OZ Minerals has reported a surge in the copper and gold divisions’ productivity in the their latest financial update. The March quarter saw a 33 per cent increase year on year in their copper output, while the company’s gold explorers produced 456 more ounces of gold in the first 3 months of 2021 when compared to the same time last year. The company has factored the effects of the pandemic in Brazil on their mineral’s copper as negative though they see that it will not impact their overall production guidance for the year. Shares in OZ Minerals (ASX:OZL) are trading 0.9 per cent lower at $24.41.

Biotech company Chimeric Therapeutics (ASX:CHM) reports another successful update on their phase 1 clinical trial in the City of Hope hospital in California, USA which is a cancer research and treatment centre. Patients from the first cohort have moved beyond the 28-day follow up period, without experiencing any side effects from their dose. This comes after their completion of the trial to evaluate the safety and maximum dose of chlorotoxin CAR T in patients with a brain tumour last month. The company focuses on chlorotoxin CAR T which is a cell therapy compound to help patients with cancer. This milestone will enable them to advance in the next step of the trial to advance to the second dosing level. Shares in Chimeric (ASX:CHM) last traded 1.69 per cent higher at 30 cents.

AGL Energy (ASX:AGL) announces Managing Director & CEO, Brett Redman has resigned after being in role for 2.5 years. Current Chairman, Graeme Hunt has been appointed as interim managing director & CEO effective immediately and will step down as Chairman. Former Oil Search executive Peter Botten has been appointed as Chairman to start immediately. The company said that the board believed he could not make a long-term commitment beyond the proposed structural separation announced on 30 March 2021. As a result, the board agreed it was appropriate to put in place alternative leadership arrangements now to facilitate the proposed structural separation. Shares in AGL Energy (ASX:AGL) are trading 2.9 per cent lower at $8.80.

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