Why Novonix, Recce, Singular Health, & Starpharma shares are storming higher

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing, the benchmark index is down 0.2% to 6,836.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are storming higher:

The Novonix share price has jumped 7% to $2.88. Investors have been buying the battery materials company’s shares after it announced the extension of its sponsorship of Prof. Mark Obrovac’s lab at Dalhousie University. This will be through a new research agreement under the Natural Sciences and Engineering Research Council (NSERC) of Canada’s Alliance Grants Program. Novonix will have first rights to intellectual property developed from…