A few stocks did the heavy lifting this week, with one biotech exploding higher and a gas name collapsing on the other side of the ledger. Big moves came from capital raises, regulator decisions, and drill results that investors treated as near-term value, not distant promises.
- Zelira Therapeutics (ASX:ZLD) surged after locking in almost US$33m to push its autism-related drug into US trials.
- LinQ Minerals (ASX:LNQ) jumped after drilling delivered a long, continuous gold-and-copper hit near surface.
- 3D Energi (ASX:TDO) slid hard even after confirming a gas find, as investors focused on what still isn’t known yet.
- Gold and critical-minerals explorers led the risers, while a handful of gapped opens reversed as early buyers took quick profits.
Zelira Therapeutics (ASX:ZLD) stole the week with a 139.44% jump after it secured almost US$33 million to move its HOPE® 1 program towards US FDA trials. LinQ Minerals (ASX:LNQ) followed with a 110.71% rise after reporting a long stretch of gold-and-copper mineralisation in one drill hole, which investors read as “more tonnes might be there”. 3D Energi (ASX:TDO) went the other way, sliding -41.18%. It confirmed gas at Charlemont-1, but it also said more testing is needed before anyone can call it a usable discovery.
Healthcare: cash and clearances moved prices fast
Zelira’s rally was about money and timelines. The funding is earmarked for an FDA IND filing and an early-stage human trial. In plain English, it pays for the paperwork and first safety testing needed before broader trials can start. Investors like that because it reduces the chance the program stalls due to running out of cash. Imricor Medical Systems (ASX:IMR) added 18.99% after winning its first US FDA clearance for its Vision-MR catheter. A clearance matters because it lets the company sell in the US, rather than just talk about future approvals. The stock opened sharply higher and then kept rising, which suggests buyers were still stepping in after the first rush. Other health names were more mixed. NeuroScientific Biopharmaceuticals (ASX:NSB) finished up 26.09% on encouraging Crohn’s disease patient responses, but early gains didn’t hold after the stock re-opened. That kind of reversal can happen when traders buy the headline, then sell once the excitement cools.Resources: drill hits and mine plans kept gold on top
Gold developers and producers kept delivering concrete updates. Catalyst Metals (ASX:CYL) rose 24.48% after reporting record quarterly production and settling a legal dispute tied to K2. Investors cared because legal fights can delay mine work, and this one is now out of the way. Lunnon Metals (ASX:LM8) gained 16.87%23.50%Critical minerals: antimony, tungsten and rare earths stayed in play Antimony-linked names kept attracting interest as investors chased non-Chinese supply stories. American Tungsten & Antimony (ASX:AT4) rose 36.00% after its first drilling intersected stibnite, a common antimony mineral. Assays are still pending, so the next move may depend on whether the lab results confirm the rock is as rich as it looks. Marquee Resources (ASX:MQR) was up 11.11% after strong antimony drilling, even while retracting earlier peer comparisons. Investors can accept a correction when the company replaces it with hard results, but it also raises the bar on future updates. Rare earths news was steady rather than explosive. Critical Metals Corp (ASX:EUR) rose 14.89% on Greenland drilling, but much of the early jump faded after the re-open. That usually means buyers liked the story, but didn’t want to chase the price higher on the day.Deals and payouts: mergers, settlements and dividends shaped expectations
Little Green Pharma (ASX:LGP) outlined a $112 million pro-forma revenue tie-up with Cannatrek, building a larger medicinal cannabis group spanning product manufacturing, distribution and clinics. Mergers like this can lift sentiment when investors believe costs can be cut and sales channels can be combined. They can also disappoint later if integration runs late or planned savings don’t appear. On the industrial side, BlueScope (ASX:BSL) gained 3.37% after declaring a $1.00 per share special dividend. A special dividend is a one-off cash payment. Investors tend to like it because it is immediate, but it can also signal the company has fewer near-term places to spend that cash. Aristocrat Leisure (ASX:ALL) rose 0.93% after it settled its dispute with Light & Wonder. Light & Wonder (ASX:LNW) finished up 16.70% for the week, but it slipped after the stock re-opened. That suggests some investors sold once the settlement terms were clear, even though the headline removed legal uncertainty.Bottom Line?
Next week’s watchlist is event-driven. Venus Metals (ASX:VMC) shareholders face a firm deadline with QGold’s offer closing 30 January 2026. Several explorers have near-term catalysts in late January and February, including Pivotal Metals (ASX:PVT) planning to start drilling in late January 2026 and DPM Metals (ASX:DPM) due to release full-year results and 2026 guidance on 10 February.
Questions in the middle?
- Will Zelira Therapeutics (ASX:ZLD) give a clear timeline for its FDA IND submission, and will the planned Phase 1 trial start date stay intact?
- Can 3D Energi (ASX:TDO) explain what commercial testing is still needed after Charlemont-1, and how long that work could take?
- Which antimony and tungsten explorers will deliver lab assays next, and do the grades match the early visual descriptions?