Zelira Therapeutics shares rose 9% during Monday morning trading after chairman Osagie Imasogie agreed to extend the company a US$1.4 million (A$2m) loan.
The capital will go toward working expenses and funding the company's clinical trial of its HOPE medicine as a treatment for autism.
Pending shareholder approval, the loan is scheduled for repayment in cash in June 2026 and carries an annual interest rate of 20%.
Zelira described the loan terms as "favourable to the company considering current market and economic conditions".
The company's shares rose to $0.305c, a 9% gain, putting Zelira's market capitalisation at $3.17m.
Ecofibre
Ecofibre has appointed textile industry executive Ulrich Tombuelt as its new managing director and chief executive, filling the vacancy left by the departure of Eric Wang late last year.
Tombuelt, who is based in North Carolina, spent the past five years serving as CEO of textile specialist Sattler.
Ecofibre chair Vanessa Wallace said his sales experience and people leadership skills "are what Ecofibre needs".
Former interim CEO John Foley will stay on with the business in an advisory capacity.
Cann Group
Cann Group has received a final payment of A$1.65 million from Biortica Agrimed, completing the transaction for "surplus" equipment that was announced in March.
Prior to this final payment, Biortica had already made $200,000 in smaller instalments.
Chief executive Tom Varga said the deal demonstrated Biortica's commitment to "work closely with partners for the mutual benefit of all".
Cann Group shares gained 7% to reach $0.030 in Monday morning trading, giving the company a market capitalisation of $12.48m.
InhaleRx
InhaleRx has reported "highly encouraging" results from a phase 1 study evaluating the safety, tolerability, and pharmacokinetics of its cannabinoid drug candidate, IRX211.
IRX211 delivers the cannabinoid drug dronabinol through inhalation at a fixed dose, developed to provide rapid relief for patients experiencing breakthrough cancer pain.
The study enrolled 24 healthy participants and assessed multiple dose levels to determine the most suitable dose ahead of a phase II trial.
InhaleRx reported that the treatment was well-tolerated across all doses tested with no dose-limiting toxicities observed. The pharmacokinetics profile also supports moving forward to the next stage of clinical development, the company said in an ASX filing.
The company is now preparing for a phase II trial to evaluate the safety and efficacy of IRX211 in a broader patient population, with an ethics submission expected to be filed early this quarter.
Chief executive Darryl Davies described the phase 1 outcomes as "important milestones" for InhaleRx.
Argent Biopharma
Argent Biopharma has completed a share placement raising US$500,000 (A$750,000), with shares issued at a 400% premium to the 15-day average price.
The company, previously known as MGC Pharma, issued 625,000 ordinary shares to a sophisticated investor at A$1.20 per share.
Argent's 15-day volume-weighted average price was $0.30c before the company entered a trading halt last Friday.
Chief executive Roby Zomer said the premium reflected confidence in the company and "underscores our pipeline's potential and our commitment to advancing innovative treatments for unmet medical needs".
"This raise will allow the company to continue the development of our key drug candidates, CannEpil and CimetrA," he said.
Melodiol Global Health
Melodiol Global Health has posted unaudited revenue of A$4.8 million for the three months to June, a 9% increase on Q1.
That result brings the company's half-year revenue to $9.3m, which is 31% above the same period in the prior year.
Health House International contributed $2.8m during Q2, while Mernova accounted for the remaining $2m.
Chief executive and managing director William Lay said Melodiol would keep its focus on both divisions with the aim of reaching profitability "as quickly as possible".
Wellnex Life
Wellnex Life chair Mario Tascone has stepped down from the role due to growing demands from his directorship at Chemist Warehouse. He will remain accessible to the board as needed while the company searches for his replacement.
Wellnex told the ASX that it is currently interviewing candidates and expects to announce an appointment shortly.
