With just a few hours of trade left on Friday, the All Ordinaries Index (ASX: XAO) is up 0.6% for the week, with due thanks to three rocketing ASX All Ords stocks.
Which companies are we talking about?
I'm glad you asked!
Despite slipping today, the PYC Therapeutics Ltd (ASX: PYC) share price is up 18.2% since last Friday's closing bell.
The Capitol Health Ltd (ASX: CAJ) share price has flown even higher, up 20.0% for the week.
And Pantoro Ltd (ASX: PNR) is also amply rewarding shareholders this week, with shares up 18.8% over the five trading days.
Here's why investors have sent the ASX All Ords stocks flying higher.
Image source: Getty Images
What's boosting these ASX All Ords stocks?
The last price-sensitive news out of PYC Therapeutics was back on 7 June.
At the time the clinical-stage biotechnology company reported on promising progress with its drug discovery program. That program is directed towards a severe neurodevelopmental disorder, Phelan McDermid Syndrome, which is caused by a loss of one functional copy of the SHANK3 gene.
Investor interest in the ASX All Ords stock was stirred when PYC Therapeutics said it had successfully restored the deficient protein and would now progress towards human trials, expected to start in 2025.
"This is a big step forward in this body of work. This is the data that the clinicians have been asking us to generate before we push into the clinic" PYC's CEO Rohan Hockings said on the day.
Which brings us to the second ASX All Ords stock leading the charge this week, diagnostic imaging provider Capitol Health.
The Capitol Health share price gained 10.2% on Monday and another 9.3% on Tuesday after the company reported its board had accepted a takeover offer from Integral Diagnostics Ltd (ASX: IDX).
With the takeover offer representing a premium of some 33% to last Friday's closing price, investors sent the stock soaring.
Commenting on the proposed acquisition, Capitol Health managing director Justin Walter said:
Today's proposed merger announcement with Integral, represents an exciting opportunity for all our valued radiologists, technicians, and staff to be part of Australia's largest pure-play publicly listed imaging company.
Ian Kadish, Integral CEO added, "The merger would create a scalable platform that would unlock significant value for stakeholders of both Integral and Capitol, including patients, doctors and shareholders."
Which brings us to the third ASX All Ords stock shooting the lights out this week, Pantoro.
Shares in the Western Australian gold producer and explorer are marching higher for the fourth consecutive day today following the company's growth announcement.
With a growth budget of $25 million, the miner said it could double the size of its exploratory drill campaign following initial drilling results. Management flagged 85,000 meters of combined diamond and reverse circulation (RC) drilling over four key targets in FY 2025 at the company's Norseman project.
Commenting on the growth plan that put the ASX All Ords stock in the top gainers list this week, Pantoro managing director, Paul Cmrlec, said:
This is a very exciting period in the development of the Norseman goldfield. For the first time we are in a position to re-develop the Norseman Mainfield with an outstanding balance sheet position, and operations generating strong cashflow.
