Stocks of the Hour: Elsight, Kazia Therapeutics, Chalice Mining

Company News

by Melissa Darmawan

Drone connectivity expert Elsight (ASX:ELS) has signed a deal with Brazilian-based company Speedbird Aero. Speedbird has built a drone that can deliver packages for commercial, industrial, and healthcare uses. One of the benefits of this technology is the ability for the drone to access remote areas. Also, no person is needed to man it. The deal is worth up to $768,264 (US$520,000) and is expected to support the fleet of parcel delivery drones. Shares are trading 9.6 per cent higher at $0.40.

The US FDA has awarded Kazia Therapeutics (ASX:KZA) a designation for its treatment for rare brain cancer in children. The designation means that the clinical trial sponsor could be up to receive a priority review voucher if the drug is initially approved for the target disease. It also grants the holder a fast-track six-month review of the drug application. Shares are trading 2.4 per cent higher at $0.64.

A new sulphide zone has been intersected during initial drilling at Chalice Mining’s (ASX:CHN) Dampier Target. Spot measurements have confirmed the presence of nickel and copper mineralisation. To put this in context, the miner is exploring a 30km area in Julimar in Western Australia and has been updating the market with its strong results. Shares are trading 12 per cent higher at $4.20.

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