Azzet reports on three ASX stocks with market-moving updates to share today.
ASX tanks on glaring omission from recent guidance
Shares in the ASX (ASX: ASX) were down around 9% at the open after the market operator gave the market more reason to second-guess whether it can do anything right.
Following on the heels of yesterday’s major faux pas, when human error incorrectly pegged TPG Telecom (ASX: TPG) to a $651 million takeover of automotive aftermarkets software platform group Infomedia (ASX: IFM), the ASX this morning fessed up to a major omission in its 12 June guidance update.
The ASX blunder couldn’t have happened at a worse time for TPG Telecom, given that a day earlier it had updated its earnings outlook and announced a capital return.
How these mistakes are possible, beggars belief, but the market operator told the market that it expects to book between $25 million and $35 million in additional operating expenses in FY26 as it responds to the ongoing Australian Securities and Investments Commission (ASIC) compliance inquiry.
Unfactored in previous guidance, these costs cover increased resourcing, legal support, a new inquiry secretariat, and other internal and external expenses.
Since CEO Helen Lofthouse entered the job three years ago, the share price has fallen over 20%, while the broader S&P/ASX 200 index has rallied by 26.5% over the same period.
While Lofthouse is trying hard to convince the market it's focused on delivering its five-year strategy, numerous cost increases to the protracted updating of its trouble-plagued and antiquated CHESS clearance system - plus yesterday’s blunder - have created something of an overhang for the stock.
Lofthouse is also facing the wrath of regulator ASIC, which is separately suing the company for allegedly misleading the market about problems in upgrading the CHESS system.
What could also add another more systemic blow to the ASX are suggestions that it may lose it prized monopoly status in the Australian market.
Following a high-level investor roundtable in Canberra hosted by Treasurer Jim Chalmers yesterday, ASIC told the market it is in the “final stages” of considering an application from American operator Cboe to directly compete with the ASX by allowing companies to list on their platform.
This move is expected to create much-needed competition with the ASX, which was first established as the Australian Stock Exchange in 1987.
While Cboe has kept its plans low profile, it is positioning itself as a low-cost alternative to the ASX.
Subject to regulatory approval, Cboe plans to launch its offering in the third quarter of the 2025 calendar year.
Cboe first entered Australia in June 2021 when Cboe Global Markets finalised its acquisition of Chi-X Australia.
The ASX has a market cap of $12.6 billion; the share piece is up 4.2% over one year and down 0.26% year to date.
The stock appears to be in a long-term uptrend. Its 200-day moving average is upwards sloping and shows that there has been investor demand for the stock over the long-term.
Consensus is Hold.
Tivan rises after hitting second milestone from IPCM
Shares in Tivan (ASX: TVN) were up around 5% in later morning trading after the critical minerals explorer received a second $2 million payment under the Australian Government’s International Partnerships in Critical Minerals (IPCM) grant program, for the Speewah Fluorite Project in WA.
Fluorite ore is used to produce commercial-grade fluorspar products, which are used in semiconductor manufacturing, EV batteries, refrigerants, aluminium fluxing and uranium enrichment.
The Australian government recognised fluorine as a critical mineral in December 2023 and awarded Speewah major project status the following year.
Located in WA’s remote Kimberley region, approximately 100km south of Wyndham port, the Speewah Fluorite Project represents Australia's first significant opportunity to develop domestic fluorite production capacity.
The grant, originally awarded to Tivan, has now been novated to Fluorite SPV—a joint venture between Tivan, Sumitomo Corporation, with Japan Organisation for Metals and Energy Security (JOGMEC) also holding a stake.
Sumitomo Corporation and JOGMEC’s special-purpose subsidiary Japan Fluorite Corporation made an initial $5.3 million equity investment in Fluorite SPV for an initial 7.5% equity interest.
To date, $3.25 million of the $7.4 million grant to cover exploration costs has been received, with the remainder scheduled for 2026.
The funds will be used to progress the project with Feasibility and Definitive Feasibility studies, pushing the company towards a final investment decision ahead of construction and operation.
Tivan’s executive chairman, Grant Wilson, told the market that the second instalment of this grant reflects the company’s progress in advancing the project in the first half of the year.
“The IPCM grant program played a constructive role in facilitating Tivan’s joint venture with Sumitomo Corporation and JOGMEC,” Wilson said.
As a 30 June 2025, the company – which also has three projects spanning the Northern Territory - had total cash reserves of $6.46 million.
Tivan has a market cap of $228 million; the share price is up 115% in one year and up 25% in the last month.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators. Specifically, a 5-day moving average of the stock price is above the 20 and 50-day moving averages.
Consensus does not cover this stock.
Neuren Pharmaceuticals moves higher on 2Q royalties update
Shares in Neuren Pharmaceuticals (ASX: NEU) were trading around 6% higher at noon after the biotech company reported a major rise in quarterly royalties from U.S. sales of its Retts syndrome treatment Daybue.
The Melbourne-based company, which has licensed U.S. partner Nasdaq-listed Acadia Pharmaceuticals (NASDAQ: ACAD) as its U.S. distributor, earned royalty income of $14.7 million on second-quarter sales, up 9% on the previous quarter.
Neuren told the market that net sales totalled US$96.1 million ($147.9 million) in the second quarter, up 14% quarter on quarter, and also a 14% rise compared to the same period last year.
Underscoring quarterly growth was an increase in unit sales shipped to more unique patients, while the number of unique patients receiving a Daybue shipment reached a record high of 987 during the period, up from 954 in the previous quarter.
During the period, Acadia also expanded its Daybue sales force by around 30%, to support increased penetration in the community and outside the Rett syndrome centres of excellence.
Meanwhile, Acadia reiterated its full-year U.S. net sales guidance for Daybue of US$380 million to US$405 million, implying full-year US royalty income for Neuren of between $62 million and $67 million.
The number of unique patients receiving Daybue rose to a record 987, with 70% of active patients now on treatment for 12 months or more.
Neuren believes there’s substantial potential for future growth in the U.S., with two-thirds of the 5,500 to 5,800 diagnosed Rett patients yet to try Daybue.
Meanwhile, Acadia is building its European commercial team in anticipation of approval of its European marketing application in the first quarter of 2026.
Approved by the FDA in March 2023, Daybue became the first and only drug for Rett syndrome, unlocking a commercial windfall for Neuren.
Since 2019, Neuren’s stock has surged over 1,200%, and the company has a market cap of $2.2 billion; the share price is up 5% over one year and up 26% in the last month.
The stock appears to be in a strong bullish trend confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
