The Capital Brief | EBR, MP1, NXN and CNB

We are pleased to share The Capital Network’s summary of the week, including developments in financial markets, media articles, analyst insights, corporate catalysts, and investor engagement events.

The recently released FY27 federal budget is still getting plenty of coverage. However, with almost all its contentious content pre-announced to the market, it has had minimal impact on investor sentiment - at least in the immediate term.

There is an emerging consensus that the abolition of the capital gains discount confirmed Budget night together with the still retained tax credits on franked dividends could see investors place increased value on stocks paying franked dividends.

It this scenario comes to fruition the Federal Government may be forced into some policy adjustments to ensure start-up companies and their founders – the mother lode for IPO stocks listing on the ASX - feel unloved, and pack their bags for greener pastures overseas.

The above mentioned scenario has clearly already caught the eye of our political masters in Canberra, with Federal Treasurer Chalmers quickly pledging to do more to support founders and venture capital investors - watch this space.

Despite the multiple macro and geopolitical stories still hogging news headlines, ASX-listed stocks continue to report delivery of key milestones in their respective growth and commercialisation strategies.

EBR Systems Inc (ASX:EBR)

EBR Systems Inc. has secured a purchasing agreement with HCA Healthcare, marking a significant step in the U.S. commercial rollout of its WiSE® CRT System.

HCA Healthcare is one of the largest healthcare networks in the U.S., with 190 hospitals and approximately 2,500 ambulatory sites of care across 19 states. The agreement provides EBR with a streamlined procurement and contracting pathway across a major hospital network.

Following the commencement of U.S. reimbursement for WiSE, the agreement builds on EBR’s growing commercial momentum and is expected to support broader hospital access across the HCA network.

EBR sales representatives will now be able to engage directly with physicians and administrators at HCA sites to support the continued adoption of the WiSE System.

EBR is already active in two HCA sites, St David’s Medical Center in Austin, Texas and Medical City in Fort Worth, Texas.

Megaport Limited (ASX:MP1)

IT services group Megaport had a strong week.

This company boasts a global automated infrastructure platform that spans more than 1,100 data centre locations and delivers rapid deployment, ultra-low latency, and dedicated high-performance infrastructure.

These capabilities are critical for large enterprises and the next generation of so-called global hyper-scalers that require distributed compute at scale, close to their end markets.

The company’s share price jumped after announcing that its wholly owned subsidiary, Latitude.sh, had secured three major Graphics Processing Unit (GPU), Central Processing Unit (CPU), network, and storage contracts across two customers.

Megaport saw these contract wins as vindication of its position as a critical infrastructure partner in the accelerating AI ecosystem.

All three contracts, which align with the company’s infrastructure and capital deployment strategies, are binding and cover a fixed-term - two have 36-month initial terms, while the third has a 24-month contract term. They deliver Megaport committed long-term revenue irrespective of usage.

The ASX announcement detailing these contract wins had an added bonus.

It also saw Megaport reaffirm its previously stated FY26 Group Revenue and EBITDA guidance, which accompanied the release of the company’s H1 FY26 results back in February 2026.

Nexsen Limited (ASX:NXN)

Biotechnology company Nexsen was another company experiencing good buying interest over the past week.

It is developing a suite of rapid point-of-care diagnostics designed to deliver lab-grade results for conditions that have traditionally depended on delayed laboratory testing.

Nexsen’s lead diagnostic is the GBS Rapid Sensor, a rapid point-of-care diagnostic for detecting Group B Streptococcus. It is also developing rapid kidney function diagnostics for Acute Kidney Injury and Chronic Kidney Disease, two conditions that remain underserved by slow, lab-based diagnostics.

The Company rallied on news it was establishing a strategic collaboration framework with GHK Hospital Limited, a subsidiary of IHH Healthcare Berhad.

This tie-up will support the clinical validation, real-world data generation and potential commercialisation of Nexsen’s rapid point-of-care diagnostic platform across North Asia.

The collaboration will give Nexsen access to relevant patient populations and real-world hospital workflows, which will help the company progress clinical validation, generate real-world evidence, and assess reimbursement feasibility and potential future adoption pathways for its diagnostic products.

The collaboration also provides Nexsen with a material platform expansion opportunity, with it opening the way for potential joint R&D, grant applications and co-development of future diagnostic products beyond Nexsen’s initial development pipeline.

The announced agreement with GHK Hospital means Nexsen’s Asia-Pacific strategy now consists of three foundational partners, each of which has delivered non-dilutive funding to the company.

Carnaby Resources Limited (ASX:CNB)

In the Materials sector, small cap explorer Carnaby Resources, which holds a portfolio of copper and gold projects located in Queensland and Western Australia, has trended higher over the first half of May.

It rallied this week after announcing further high grade copper-equivalent exploration drill results from its Mt Isa, Queensland based Trekelano Project.

These results confirm the discovery of a significant new Footwall Lode, which was first intersected in drilling undertaken by Carnaby Resources in calendar 2025. This new Footwall Lode is completely open down plunge and along strike to the north.

Importantly, all the new results including the original discovery hole are outside of the existing Mineral Resource Estimate (MRE).

New Trek 1 Footwall Lode is open up dip to the Ore Reserve Open Pit and has the potential to expand the Ore Reserve open pit.

And the good news may not end there, with further drill results pending and drilling activities still underway.