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The Markets
by Proactive
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Small cap wrap: Graphene Manufacturing Group, EDM Resources, Digi Power X, Gunnison Copper...

The S&P/ASX Small Ordinaries index was weaker on Wednesday, falling 43.70 points, or 1.27%, to 3,390.80.

The move extended recent weakness for the small-cap benchmark, which is now down 56.10 points, or 1.63%, over the past five trading days.

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AtaiBeckley Inc. (NASDAQ:ATAI, XETRA:9VC) could see increased investor attention as it approaches Phase IIb data for its oral DMT-based therapy VLS-01, according to Jefferies analysts, who highlighted the program’s potential to add value to the company’s psychedelic medicine pipeline.

The analysts wrote that VLS-01’s completed Phase IIb enrollment in treatment-resistant depression (TRD) sets up a fourth quarter 2026 topline data readout, which could serve as a potential de-risking event for the program.

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Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID) said its Maltese subsidiary will participate directly in the EU’s Important Project of Common European Interest on Advanced Semiconductor Technologies (IPCEI AST).

Trust Stamp Malta Limited joins the coordinated European initiative aimed at strengthening the continent's sovereignty, security and resilience across the advanced semiconductor value chain.

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Global digital asset ETPs fell sharply in June 2026, with total assets under management dropping 18.4% to $106.8 billion from $130.9 billion at the end of May, according to Fineqia International Inc (CSE:FNQ).

The decline pushed AUM to its lowest level since September 2024 and marked a second consecutive negative quarter for the sector.

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Futura Medical PLC (AIM:FUM, OTC:FAMDF, FRA:GYX), the pharmaceutical group, said it intends to appeal a European Patent Office decision to revoke its patent for MED3000, the erectile dysfunction treatment sold as Eroxon.

It will take the case to the EPO Technical Board of Appeal, a process expected to take at least 18 to 24 months.

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EnWave Corp (TSX-V:ENW, OTC:NWVCF, FRA:E4U) announced that it has signed a second equipment purchase agreement with Mexican food processing company Procescir S.A. de C.V. for an additional 120-kilowatt Radiant Energy Vacuum (REV) dehydration machine.

The new equipment purchase follows Procescir's commercialization of its first REV production line. EnWave said the second system will expand Procescir's manufacturing capacity, allowing the company to increase production of private-label and branded dried fruit, vegetable and ingredient products, while supporting its toll drying business for international food companies.

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Snail Inc (NASDAQ:SNAL) has announced the launch of three new content releases for ARK: Survival Ascended, including ARK: Genesis Part 1 Ascended, ARK: Tides of Fortune, and ARK: Dragontopia.

The company said it expects to recognize approximately $11 million from its deferred revenue backlog during the third quarter of 2026 in connection with the release of ARK: Genesis Part 1 Ascended.

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Varon Corp (OTCID:OZSC) announced that its joint venture, Ballislife Drink, has launched its first athlete signature limited-edition HYDRO Sports Drink, featuring NBA player Desmond Bane and a piña colada flavor.

According to the company, the Desmond Bane Signature Edition features custom packaging inspired by the NBA guard and is intended to strengthen consumer engagement by connecting athletes with products they represent while creating additional retail interest through limited-edition branding.

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374Water Inc (NASDAQ:SCWO, FRA:8LL) has named Chuck Weiser as chief financial officer, effective immediately, the cleantech and environmental services company said.

Weiser succeeds Adrienne Anderson, who served as interim CFO and will remain with the company as a financial consultant focused on SEC reporting, compliance, and corporate finance.

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Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) reported that June 2026 was the strongest month for sales orders in the company's history, with more than A$400,000 in orders booked.

The company said the record month reflected customer activity across domestic and international markets, with demand for its THERMAL-XR energy-saving coating coming from the HVAC-R distributor and project activity markets as well as the data centre sector.

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Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) is targeting an annualized run rate of approximately $250 million to $300 million across its three operating segments for fiscal 2027, the AI data center infrastructure operator said.

The company expects its AI colocation business to contribute $80 million to $100 million as Phase 1 of its purpose-built AI data center campus completes a full year of operations and Phase 2 begins contributing following its targeted commissioning of 40 MW.

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EDM Resources Inc (TSX-V:EDM, OTC:SWNLF) has provided a second quarter operational update, highlighting progress on permitting, financing, exploration and technical work as it continues advancing its Scotia Mine project in Nova Scotia toward a production decision.

The company said the Department of Fisheries and Oceans has advised that its Fisheries Act Authorization (FAA) application is progressing through the First Nations engagement stage. EDM said it continues to work with First Nations and regulators to address information requests and expects an FAA decision during the summer or fall of 2026.

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Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) has reported estimated June sales volumes of 2,990 barrels of oil equivalent per day (boepd), while providing an update on drilling activity in Brazil and higher natural gas prices under its long-term sales agreement.

June sales in Brazil averaged 2,834 boepd, consisting of natural gas sales of 16 million cubic feet per day (MMcfpd), condensate sales of 172 barrels per day and oil sales of 3 barrels per day. Canadian oil sales averaged 156 barrels per day.

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Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has settled its outstanding convertible debentures in cash rather than allowing conversion into common shares, eliminating a major source of shareholder dilution.

The move prevents the issuance of about 28.9 million common shares to Greenstone Excelsior Holdings LP and Greenstone Resources LP, strengthening the company's capital structure, Gunnison said.

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Shares in IXICO PLC (LSE:IXI, OTC:PHYOF, FRA:PYPB), the neuroscience imaging company, rose 11% to 9p after it has raised its revenue forecast for the current financial year after stronger-than-expected trading.

The company now expects revenues of at least £8 million for the year ending 30 September 2026.

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Coiled Therapeutics (AIM:COIL, OTCQB:COTXF), a clinical-stage oncology company developing medicines for hard-to-treat cancers, has created a new oral formulation of its lead drug candidate designed to improve how the treatment is absorbed by the body.

The AIM-listed company said it expects to dose the first patient with the reformulated version of AO-252 this month.

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Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) is raising about A$11.12 million before costs through a two-tranche placement, strengthening its balance sheet as it advances its lead cell therapy asset azer-cel through key clinical and regulatory milestones.

The placement follows positive early clinical data from Cohort 3 of Imugene’s ongoing Phase 1b azer-cel study, where the first two evaluable patients in the concurrent BTKi combination cohort achieved complete responses.

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