The S&P/ASX 200 Index (ASX: XJO) is on course to start the new financial year with a solid gain. At the time of writing the benchmark index is up 0.65% to 5,936.2 points.
Four shares that have climbed more than most today are listed below. Here's why they are surging higher:
The Alterity Therapeutics Ltd (ASX: ATH) share price has rocketed an incredible 1,841% to 33 cents. Investors have been scrambling to buy the biotech company's shares after it revealed that its meeting with the U.S. FDA has provided it with a development pathway for its ATH434 candidate. ATH434 is the company's lead compound for the treatment of Multiple System Atrophy (MSA), a Parkinsonian disorder.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 4.5% to $11.61. This morning the travel agent announced that it has secured access to a debt facility of up to 65 million pounds. These funds will be draw down if and when it is necessary to offset the coronavirus' impact on its United Kingdom-based operations. The funding has been made available to the company via the Bank of England's COVID Corporate Financing Facility.
The NEXTDC Ltd (ASX: NXT) share price has surged 6.5% higher to $10.53 after announcing major new contract wins in New South Wales. According to the release, the company's contracted commitments at its New South Wales data centre facilities have now increased by approximately 4MW, to more than 36MW. And including expansion options, its data centres in the state are now approaching a sizeable 60MW.
The Telix Pharmaceuticals Ltd (ASX: TLX) share price has jumped 16.5% to $1.49. The catalyst for this gain was an announcement which reveals that the U.S. FDA has granted Breakthrough Therapy designation for Telix's renal cancer imaging product TLX250-CDx. The FDA will work closely with Telix to provide guidance on the development of TLX250-CDx for the diagnosis of indeterminate renal masses that have been identified on CT or MRI imaging.
