Stocks of the Hour: Chimeric Therapeutics, Power Minerals, James Bay Minerals

Chimeric Therapeutics (ASX:CHM), announced that the FDA has cleared the Investigational New Drug application of CHM 2101, Chimeric’s first in class CDH17 CAR T cell therapy for gastrointestinal cancers.  Michael R. Bishop, Professor of Medicine and Director at the University of Chicago commented “I am really excited about the planned Phase 1 clinical trial of CHM 2101 and the opportunity to bring a potentially transformative new investigational agent to cancer patients who need them most,” Shares are trading 76.92 per cent higher at 4.6 cents.

Power Minerals Limited (ASX:PNN) has received confirmation the first tranche of Summit Nanotech Corporation’s strategic investment of $3.125 million has been transferred to Power, in agreement to its Binding Term Sheet with Summit. The first tranche will be used for the funding and development of the Incahuasi Salar at Power’s Salta Lithium Project, in the lithium triangle of Argentina. Shares are trading 11.54 per cent higher at 29 cents.

James Bay Minerals (ASX:JBY) has discovered spodumene during its maiden field exploration program at the highly prospective Aero Property, which forms part of the Company’s La Grande Project, located in the prolific James Bay district in Quebec, Canada. Senior Field Geologist Mark Fekete, commented: “The discovery of a lithium-bearing mineral at surface on the Warhawk pegmatite within the Aero Property confirms that this pegmatite contains lithium. Our focus is to now determine where the highest concentration of lithium is within the Warhawk and other pegmatites dykes on the Property.” Shares are trading 16.67 per cent higher at 35 cents.
 
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Source: Finance News Network