Azzet reports on three small caps ASX stocks with notable trading updates today.
Imagion Biosystems soars on positive FDA feedback
Little-known Imagion Biosystems (ASX: IBX) was up over 80% at the open after the biotechnology and nanotechnology minnow received positive feedback from the U.S. Food and Drug Administration (FDA) regarding its planned Phase 2 clinical trial for the MagSense® HER2 imaging agent, intended for early detection of HER2 breast cancer.
As previously advised the company’s clinical team has been in communication with the FDA regarding plans to submit an Investigational New Drug (IND) application for its MagSense HER2 imaging agent.
The FDA’s formal written feedback is understood to be a significant step in the regulatory process, allowing the company to proceed confidently with the formal submission of an Investigational New Drug (IND) application, expected in the third quarter of 2025, which could enhance its market positioning and stakeholder confidence.
The company will be meeting with the FDA in person in the coming week to complete this process, ahead of the formal IND submission.
Commenting on today’s update, Bob Proulx company’s executive chairman told the market today it can confidently press forward with the formal submission and plans for undertaking the Phase 2 clinical study knowing it is in good shape regarding the regulatory path.
The company expects to file the Investigational New Drug (IND) application for the Phase 2 study in the third quarter of the 2025 calendar year.
Back in October last year the company raised $3 million to advance its MagSense platform.
Imagion’s cash balance as at 31 March 2025 was $1.71 million, a decrease of $0.96 million from the prior quarter.
The company reported an operating cash outflow of $0.959 million in the quarter.
Operating cash outflows increased by $0.297 million from the prior quarter largely due to increased research & development expenditure associated with the MagSense HER2program.
Imagion Biosystems has a market cap of $4.6 million; the share price is down 71% in the last year and up 109% in the last month.
Up until today, the stock’s shares appear to be weak with little demand from investors.
Consensus does not cover this stock.
The stock was trading at $0.023 this morning.
Tivan jumps on discovery of copper mineralisation in Timor-Leste
Shares in Tivan (ASX: TVN) were up around 6% at the open after the small-cap critical minerals company confirmed outcropping copper mineralisation at two sites — Mota Sohi and Mota Klere — within its Turiscai Project in Timor-Leste.
This follows the first week of fieldwork, part of a systematic exploration campaign across a 344-square-kilometre licence area strategically located near Dili, benefiting from existing transportation routes.
Initial exploration activities have identified two sites with significant copper mineralisation, and the company plans to continue its systematic exploration program, with assay results expected between September and December 2025, pending government export approvals.
Minerals observed include bornite, chalcopyrite, azurite, and malachite, although the company cautions that visual estimates do not substitute for assays.
Assuming the development is analogous to several world-class copper-gold deposits it could potentially enhance Tivan’s positioning in the copper-gold exploration sector, potentially lead to future exploration targets and increase stakeholder interest.
The company is currently engaged in identifying and developing copper-gold deposits, with a strategic emphasis on projects with geological settings similar to major deposits in Papua New Guinea and Indonesia.
Today’s announcement follows a joint venture (IJV) that Tivan entered into with Sumitomo Corporation back in May for the Speewah fluorite project in the Kimberley region of WA.
The binding agreement will see a newly established Sumitomo subsidiary, Japan Fluorite Corporation, invest up to $60.3 million in exchange for an equity interest of up to 22.5% in the IJV.
The joint venture aims to establish Australia’s first fluorite mining and processing operation to produce acid-grade fluorspar, comprising more than 97 per cent calcium fluorite, for export to international markets.
The stock’s free cash flow (FCF) for H1 25 was - $1.41 million, compared with FCF of -$4.41 million and operating cash flow of -4.32 million for FY24.
Tivan's earnings have been declining at an average annual rate of -72.4%, while the metals and mining industry saw earnings growing at 19.4% annually.
Revenues have been declining at an average rate of 37.4% annually.
Tivan has a market cap of $176 million; the stock is up 44% over one year and down 15% year-to-date.
While the stock’s 200-day moving average is trending upwards, the 20-day moving average is falling as upward momentum wanes.
Consensus does not cover this stock.
White Cliff Minerals moves higher after drilling starts at Rae
Shares on White Cliff Minerals (ASX: WCN) were trading around 5% higher heading into lunch after the junior nickel-copper and gold explorer announced the commencement of diamond drilling at its 100%-owned Rae Copper Project in Nunavut, Canada, targeting the Hulk sedimentary basin.
The drill program builds on successful reverse circulation (RC) pre-collars and focuses on three holes testing structural targets along the Herb Dixon Fault.
Concurrently, RC drilling at the high-grade Danvers prospect will resume, where past results announced back in May included intercepts up to 175m at 2.5% copper and 8.66g/t silver from just 7.6m depth, a high-grade zone of 14m @ 7.55% Cu & 25.8g/t Ag from 138m.
A drone-based magnetotelluric survey is underway to assist broader targeting.
Commenting on today’s update, the company’s managing director Troy Whittaker told the market that exploration works at Rae coincides favourably with Canada’s pledge to spend more money on ensuring a critical minerals pipeline.
“Investment into ports, rail, processing facilities will be beneficial to all junior explorers like White Cliff Minerals,” said Whittaker.
“This, alongside an ongoing and ever increasing copper demand where we continue to see strong prices positions the Company extremely well as we continue our exploration activities in this emerging Nunavut Copper province.”
To accelerate the drilling campaign at the Rae, White Cliff raised $14.4 million at a 38.9% premium to its last traded price of 2.9c 19 May.
The company also received commitments to raise an additional $2 million through a placement to new and existing sophisticated and professional investors.
The company’s cash and cash equivalent position as at 31 March 2025 was around $3.79 million, including listed investments worth approximately $0.84 million and was expected to increase by $1.2 million from the sale of the Reedy South Gold Project.
White Cliff Minerals has a market cap of $53 million; the share price is up 47% in one year and down 8% in the last month.
While the stock’s 200-day moving average is trending upwards and highlights long-term investor interest in the stock, the 20-day moving average is falling as upwards momentum wanes.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
