Stock in the company surged after announcing the launch of its “Dapsone 5% Gel” in the United States. The product is a prescription medicine used on the skin to treat acne vulgaris. It helps decrease the number and severity of acne and with healing more quickly. Dapsone is a generic version of “Aczone 5% Gel”

Acrux received US Food and Drug Administration approval in June last year for the product, allowing it to manufacture and market the generic drug in the United States.

Back in 2020, the company teamed up with TruPharma – a sales and marketing company focused on commercialising branded and generic prescription drugs for the US market.

Acrux has enjoyed significant success in the past 12 months, with its total revenue increasing to $5.77 million for the six months up to the end of 2023, an increase of $2.528 million on the prior corresponding period.

It was the great Author Mark Twain who once said words to the effect “reports of my death are greatly exaggerated” after reading his own obituary in a London newspaper in the late 1800’s. Perhaps that quote could similarly be attributed to the lithium market after Perpetual Resources showed onlookers this week that the lithium market is certainly not dead.

Perpetual stepped up this week to own the third spot on the Bulls N Bears Runners of the week podium after its stock more than doubled from 0.7c last week to hit 1.5c during intraday trading today. The company’s share price ran after it executed two option agreements to secure a large landholding adjacent to its existing Itinga prospect in the Brazilian lithium hotspot of Minas Gerais.

The new tenements sit within 30km of world-class lithium deposits including Sigma Lithium’s Grota do Cirlo operation and Lithium Ionic’s Banderia project.

Management says the landholdings contain multiple confirmed lithium soil anomalies and peak value rock chips of up to 2.1 per cent lithium oxide based on initial pass Laser Induced Breakdown Spectroscopy (LIBS) analysis. The area covers historical artisanal mines with large pegmatites, extending from mapped formations, and adds to the confirmed lithium soil anomalies within its existing Itinga prospects.

The two new areas add almost 30 square kilometres to Perpetual’s tenure in the area where it already holds about 120 square kilometres of highly prospective lithium exploration permits with its Itinga prospect.

The company has hit the new ground running with a detailed mapping and sampling campaign already underway as it looks to build on its prospects in the area of Minas Gerais that is quickly becoming known as “Lithium Valley”.

So there you have it, a couple of doubles and one treble for the week – a nice little Runners of the Week trifecta if you managed to pick it.

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