The S&P/ASX 200 Index (ASX: XJO) is having another strong session and is on course to end the week with a big gain. At the time of writing, the benchmark index is up 0.85% to 7,957.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher on Friday:
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Immutep Ltd (ASX: IMM)
The Immutep share price is up 25% to 36.8 cents. This morning, this clinical-stage biotechnology company announced positive results from Cohort B of the TACTI-003 Phase IIb trial. This trial is evaluating eftilagimod alfa in combination with Keytruda as a first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma patients with negative PD-L1 expression. Management notes that that these results are "among the highest recorded for a chemotherapy-free approach in negative PD-L1 patients and compare favourably to a historical control of 5.4% ORR and 32.4% DCR from anti-PD-1 monotherapy."
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate Consolidated share price is up 3% to $1.63. This follows the release of drilling results from high potential exploration prospects near its Chatree Gold Mine in Thailand. According to the release, the company continues to intersect significant gold in these prospects. It also notes that the drilling results have extended mineralisation to the west, which will be further assessed in the upcoming dry-season field campaign.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price is up 2.5% to $21.48. This appears to have been driven by a broker note out of UBS this morning. In response to the investment platform provider's quarterly update, the broker has reiterated its buy rating and lifted its price target to $24.50. This implies potential upside of 14% for investors from current levels. It notes that Netwealth outperformed expectations in the fourth quarter. It also believes that management's commentary indicates that further strong fund inflows are coming in FY 2025.
Ora Banda Mining Ltd (ASX: OBM)
The Ora Banda Mining share price is up a further 7.5% to 42 cents. Investors have been buying this gold miner's shares since it announced the approval of the development of the Sand King Underground mine on Thursday. This approval paves the way for the company to grow its gold production to 150,000 ounces per annum in FY 2026. This will be a big increase on its production guidance of 100,000 ounces to 110,000 ounces for FY 2025.
