In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.9% to 8,202.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is up 15% to 27 cents. This is despite there being no news out of the semiconductor company. However, it is worth noting that rumours and speculation on message boards often drive Brainchip's shares higher. Only for nothing to transpire and its shares to tumble deep into the red again. Last month, the company released its quarterly update and revealed cash receipts of US$45,000 for the three months. This is despite commercial activities being underway for some time.
Cooper Energy Ltd (ASX: COE)
The Cooper Energy share price is 4% to 17.2 cents. This follows the release of an update on the energy producer's guidance for FY 2025. It revealed that it is increasing its production guidance to 65 –72 TJe/day (from 62 – 69 TJe/day). Management advised that this increase is primarily driven by improved performance at the Orbost Gas Processing Plant. Cooper Energy's CEO, Jane Norman, said "Our increased production guidance reflects confidence that the Orbost plant can continue to operate at least as well as it has thus far in FY25, with maximum rates around nameplate capacity, less frequent and shorter absorber cleans, as well as improved reliability."
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 2% to 11 cents. This has been driven by the release of new lithium drilling results from the Blackbeard prospect at its flagship Finniss Lithium Project in the Northern Territory. Core Lithium's CEO, Paul Brown, commented: "The results from Blackbeard are highly encouraging and indicate we have discovered a large, highly mineralised pegmatite within a short distance of our processing infrastructure, consistent with the key objective of our 2024 field season."
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 8% to $13.28. This morning, this pharmaceuticals company revealed that it will receive a significant payment from its US partner, Acadia Pharmaceuticals (NASDAQ: ACAD). This follows news that Acadia has finalised an agreement to sell a Rare Pediatric Disease Priority Review Voucher (PRV). Under its agreement with Acadia, Neuren is entitled to one-third of the sale proceeds, which amounted to US$150 million. This means Neuren will receive approximately US$50 million or A$75 million.
