Daily Roundup

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Aerometrex Streamlines Operations with Asset Divestment

Aerometrex Ltd has made a strategic move to divest certain non-core aviation assets for approximately $0.85 million. This decision aligns with the company's plan to outsource a significant portion of its MetroMap flying capture program. The divestment is expected to strengthen Aerometrex's balance sheet and contribute to its long-term growth and shareholder value.

Southern Cross Electrical Engineering Secures Over $100M in New Contracts

Southern Cross Electrical Engineering Limited has announced a flurry of new project wins, totaling over $100 million. The highlights include the company's largest-ever hospital project, the design and construction of electrical and associated works for the new Shellharbour Hospital in New South Wales. Additionally, Heyday, a SCEE subsidiary, has been awarded further data center work, while Trivantage Manufacturing has received a series of orders, resulting in a record-level order book.

Inoviq Advances Exosome-Based Breast Cancer Treatment

Inoviq Limited has successfully completed the first stage of its development program for an exosome therapeutic targeting breast cancer. The in vitro proof-of-concept study demonstrated that engineered exosomes can effectively target and kill triple-negative breast cancer cells. Inoviq will now focus on enhancing the tumor-killing activity and evaluating optimal dosing in animal models, paving the way for future preclinical studies and clinical trials.

PYC Nominates Fourth Drug Candidate for Phelan-McDermid Syndrome

PYC Therapeutics has announced the nomination of its fourth clinical drug candidate, PYC-002, for the treatment of Phelan-McDermid Syndrome (PMS), a severe neurodevelopmental disorder. Preclinical studies have shown that PYC-002 can increase SHANK3 gene expression in the critical brain regions affected by PMS and restore it to normal levels in neurons derived from PMS patients. PYC will now progress PYC-002 into Investigational New Drug (IND)-enabling studies, with the goal of initiating human trials in the first half of 2026.

Freedom Care Group Holdings Suspended from ASX

In a concerning development, Freedom Care Group Holdings Ltd (ASX: FCG) has had its securities suspended from quotation on the ASX. The suspension is due to the company's financial condition not being adequate to warrant continued listing, as evidenced by the voluntary administration of its subsidiary, Freedom Care Group Pty Ltd. The ASX has determined that FCG is in breach of Listing Rule 12.2 and will remain suspended until the company can demonstrate compliance with the Listing Rules.