ASX Health Stocks: Doctor Care Anywhere downgrades guidance, CEO steps down, shares tumble
Health & Biotech
Health & Biotech
UK-based Doctor Care Anywhere (AS:DOC) tumbled 13% after announcing the retirement of its CEO and a forecast downgrade.
CEO and board member, Dr Bayju Thakar, has retired with immediate effect.
Thakar will remain available to consult the company as required and to support an orderly transition until 31 December.
Mark Taylor has been appointed and will act as interim CEO.
Taylor has 30 years’ experience leading, building and supporting management teams, including operational delivery and improving business performance.
He works as a professional interim CEO, focussing on business transformation, managing change at pace, and delivering stakeholder value.
Separately, DOC has also reported its first half results and a new set of guidance.
Underlying revenue grew to £15.4 million, up 12% on pcp. Underlying gross profit margin was 42.9%, up 9.28% on pcp.
The company has also released its full year guidance, and expects a revenue in the range of £28-31 million.
This is a step down from the guidance it released February of between £35-38 million, citing platform performance issues, including instability and some outages as result of legacy technology.
These issues have caused the delay of the company’s Mixed Clinical Workforce platform launch, as well as the integrated virtual and in-person primary care proposition with Nuffield Health.
Lumos Diagnostics (ASX:LDX) announced today that it has received US$270k in purchase orders for the manufacture of a unique, multi-assay, rapid diagnostic cartridge.
This cartridge is expected to be used in combination with a customised Lumos digital reader platform as part of a novel hormone monitoring platform.
The hormone monitoring platform will be used by IVF patients at-home and in clinics as part of several clinical studies to be conducted across Asia Pacific, Europe and the USA.
These clinical studies will assess the impact of the use of the hormone monitoring platform on clinical workflows and decision making.
The studies are also being conducted as a pre-cursor to a potential market launch for Lumos in the first half of FY24.
The commencement manufacturing at the Lumos Carlsbad Californian facility is contingent on Lumos successfully completing a US$320k manufacturing validation program, and the product receiving CE-Mark certification.
The manufacturing validation program requires a series of assay batches to be manufactured by Lumos and tested, to show concordance with critical clinical acceptance criteria which was completed in May 2022.
Clarity Pharma (ASX:CU6) announced that it has advanced to cohort 3 of the CL04 trial of SARTATE in paediatric neuroblastoma.
Cohort 2 was completed in participants with neuroblastoma who received therapy with 67Cu SARTATE at a dose of 175MBq/kg body weight.
No Dose Limiting Toxicities (DLTs) have been reported in cohort 1 and cohort 2.
Recruitment of cohort 3 is open at all five clinical sites in the US at the increased dose level of 275MBq/kg body weight.
Additional clinical sites will be opening in the US in the coming months.