In early afternoon trade, the (ASX: XJO) is on course to end the week in a disappointing fashion. At the time of writing, the benchmark index is down a further 1% to 8,086.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping: ( ) The Bellevue Gold share price is down 4% to $1.12.
Investors have been selling Bellevue Gold and other ASX gold stocks on Friday after the price of the precious metal pulled back overnight. This was driven by the US Federal Reserve indicating that interest rates won't go as low as expected in 2025. ( ) The Mesoblast share price is down 18% to $2.
50. This appears to have been driven by profit taking after the biotechnology company's shares rocketed 50% higher on Thursday. Investors were fighting to get hold of Mesoblast's shares after the US FDA its Ryoncil (remestemcel-L) product as the first mesenchymal stromal cell (MSC) therapy in the United States.
Management notes that Ryoncil is the only MSC therapy approved in the U.S. for any indication.
It is also the only approved therapy for steroid-refractory acute graft versus host disease (SR-aGvHD) in children 2 months and older, including adolescents and teenagers. It is a life-threatening condition with high mortality rates. ( ) The Pilbara Minerals share price is down almost 3% to $2.
07. Investors have been selling this lithium miner's shares this month despite there being no news out of it. The selling has been so severe that the lithium min.
