IXC posts 80%+ gains in the first hour of trade.

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Invex Therapeutics (ASX:IXC) has had a cracking open as it officially joined the ASX today around 12pm. We normally like to sit tight for 2hrs or so but the signs are good that these results will hold afor the afternoon and we couldn’t contain ourselves.

Invex are a biotech “focused on the repurposing of an already approved drug, Exenatide, for efficacious treatment of neurological conditions derived from or involving raised intracranial pressure, such as Idiopathic Intracranial Hypertension (IIH), acute stroke and traumatic brain injury.”

There’s very strong buy in at the top and whilst only a small company, in some respects, the market is clearly backing the venture.

Keep tabs on the Scorecard for updates and be sure to check out our Live IPOs as there’s a few stocks on offer currently that might be worth a look.