Daily Roundup

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Cyclopharm Reports Strong Growth, Expands in the US

Cyclopharm Ltd had a banner year, reporting a 5% increase in global Technegas sales revenue in 2024. This was driven by a remarkable 131% growth in the US market following FDA approval. The company raised $20 million in capital and $4 million through a share purchase plan to fund its ambitious US expansion plans, aiming to quadruple the size of its existing pulmonary embolism business.

Cyclopharm now has Technegas approved in 66 countries and is progressing clinical trials to expand the use of its technology beyond pulmonary embolism, into areas like asthma, COPD, and lung cancer. The company is targeting 250-300 Technegas installations in the US by the second half of 2026, which it expects will significantly grow the global market for its innovative ventilation imaging solution.

CZR Recommends Shareholders Accept Fenix Takeover Offer

CZR Resources Ltd has recommended that its shareholders accept the off-market takeover bid by Fenix Resources Ltd. The CZR board recognizes the merits of Fenix's offer and the benefits to CZR shareholders. Shareholders have until 21 March 2025 to receive the increased offer consideration of 0.98 Fenix shares for every CZR share held.

EMVision's First Responder Device Excels in Aeromedical Testing

EMVision Medical Devices' First Responder Proof-of-Concept device has successfully undergone aeromedical environment testing, demonstrating its ability to withstand the physical stress and operational constraints of aeromedical retrieval. The company is now progressing ethics applications to enroll Royal Flying Doctor Service staff and patients in upcoming clinical studies, which will evaluate the device's usability, reliability, and functionality in real-world pre-hospital settings.

Clover Delivers Turnaround Performance in 1H FY25

Clover Corporation has reported a strong financial and operational turnaround in the first half of FY25. Revenue increased by 38% to $37.6 million, driven by the company's product and market diversification strategy and improved market conditions. Gross margins expanded, and the company reported a net profit after tax of $2.4 million, a significant improvement from the prior year's loss.

Clover's balance sheet remains robust, with $15.4 million in cash. The company has seen improvements in its Melody Dairies facility, as well as success with new product releases, including powdered High Omega 3 and its unique Gelphorm and CholineXcel offerings. Looking ahead, the board expects the positive momentum to continue into the second half of the year.

WiseTech Addresses Governance Concerns

WiseTech Global Ltd. provided an update on the Board Review into matters relating to its Co-Founder and Executive Chair, Mr. Richard White. The Board Sub-Committee found Mr. White's conduct unacceptable and is undertaking a review of the company's Code of Conduct and governance policies. WiseTech also plans to appoint an additional independent director to comply with ASX rules.