Sydney - Tuesday - November 25: (RWE) *************************************
Some share price moves to keep an eye on in the market:
HARVEY NORMAN (HVN) up 10c to $3.05: Sales rose 20.6 per cent to $1.178 billion in the four months to October 31. Like-for-like sales were up 15.2 per cent.
BLACKMORES (BKL) down 10c to $7.65: A newspaper report today said that the business and assets of the troubled rival Pan Pharmaceuticals had been purchased by contract pill maker Tabco. Tabco had been the largest contract manufacturer for Blackmores until last year, when Blackmores switched to other suppliers and Tabco's owners subsequently sold down their Blackmores shares.
STARPHARMA POOLED DEVELOPMENT (SPL) up 3c to 59c: The Nanotechnology Research and Development Act has been passed in the US House of Representatives. The Act authorises $US3.7 billion over the next four years for the creation of the National Nanotechnology Co-ordination Office and the funding of federal government nanotechnology programs.
BRESAGEN (BGN) up 2.5c to 27c: Will assign a number of its licences relating to catheters for cell delivery to US-based devices company NexGen Technologies. NexGen will provide BresaGen with a non-exclusive licence to use the FDA-approved neurological cell therapy catheter with its own products, such as a treatment for Parkinson's Disease. BresaGen will also receive about $380,000 as an upfront payment for the assignment and will be granted shares representing 4 per cent of NexGen.
FKP (FKP) up 11c to $2.36: Won the tender for Stage 2 of Brisbane's Newstead Riverpark Gateway, worth $42 million. The company plans to develop a commercial precinct and a separate civic precinct on the site.
MOSAIC OIL (MOS) up 1.5c to 19c: Announced its "revolutionary" coiled tubing horizontal drilling with nitrified liquids had struck gas in its first attempt on Tinker 3H. It penetrated an upper sand overnight and was flowing at an estimated 4 million cubic feet of gas a day, directors said.
PSIVIDA (PSD) up 2c to 53c: Signed a licensing agreement with German research agency Forschungszentrum Julich to acquire rights in the use of porous silicon mirror technology. PSivida intends to commercialise the mirror using its BioSilicon diagnostic technology, for the development of early stage detection and monitoring devices for diseases such as cancer.