ASX Stocks Hitting 52 Week High

Rhythm Biosciences , Ardea Resources (ARL) and Southern Cross Electrical Engineering (SXE) have all hit 52-week highs and being supported by strategic partnerships, major funding support and new project awards. Recent developments highlight growth across biotech, critical minerals and infrastructure sectors. 

Rhythm Biosciences Limited (ASX: RHY)

Rhythm Biosciences Limited (ASX: RHY), on 3 February 2026, secured a multi year supply deal with Quansys Biosciences to manufacture ColoSTAT reagent kits. The agreement ensures commercial scale production in ISO13485 certified facilities and providing scalable capacity to support the ColoSTAT Access Program and future market rollout. This partnership builds on two years of successful assay development, reducing risks in manufacturing scale-up and quality management.

A collaboration with AGRF establishes a domestic processing hub for geneType™ tests, capable of handling over 100,000 samples annually. Local testing will speed up turnaround times, improve patient care and support the company’s planned expansion into additional markets while ensuring redundancy with another lab partner.

A strategic alliance with Cancer IQ opens immediate access to over 345 clinics across 65 health systems, enabling streamlined ordering and automated data handling. This approach supports recurring test revenues and reduces the complexities of US commercialisation.

Key priorities before Q3 FY26 include accreditation audits, expanding the geneType™ test menu, advancing ColoSTAT commercialisation, forming new partnerships and beginning NHS England’s analytical evaluation of ColoSTAT. 

Ardea Resources Ltd (ASX: ARL)

Ardea Resources Ltd (ASX: ARL): On 5 February 2026, Ardea Resources Limited (ASX: ARL) announced that its subsidiary project joint venture vehicle, Kalgoorlie Nickel Pty Limited received conditional, non binding support from Export Finance Australia and the U.S. Export-Import Bank (EXIM) for the Goongarrie Hub. Combined potential backing is around AUD 1B with EFA offering up to AUD 500 million and EXIM up to USD 350 million. This shows the project’s importance in securing critical minerals for battery, energy storage and the electric vehicle industries.

The Goongarrie Hub is a major nickel-cobalt resource near Kalgoorlie. It targets both traditional industrial uses, like stainless steel and the rapidly growing clean energy sector, reinforcing supply chain security for Australia and partners.

Drilling and metallurgical testing are mostly complete. Work is now focused on modeling, detailed engineering, and drafting the Definitive Feasibility Study and is supported by collaboration with the Japanese Consortium. 

The project retains Major Project Status with strong government engagement and financial stability with holding $11.6M cash and no debt. The team is on track to finalize the feasibility study in the first half of 2026.

Southern Cross Electrical Engineering (ASX: SXE)

Southern Cross Electrical Engineering (ASX: SXE) secured $90 million in new awards including detailed engineering for the Steel River East Battery Energy Storage System in NSW, covering procurement, engineering completion, and construction once approvals are received. 

SCEE’s Heyday, Force Fire, and Trivantage Manufacturing received contracts for DigiCo SYD1’s 20 MW data centre expansion in Sydney, including electrical, fire, and switchboard works, expected to finish by mid-2026. 

Heyday also won the electrical and communications package for Sydney Metro’s St Marys Station, with integration of Trivantage switchboards, scheduled for completion by early 2027.

(Source: Company Reports)