ASX Health Stocks: Here's a highlight from today's half-year result announcements

At the time of writing, the ASX 200 Health Index (XHJ) is down by 1.10%, while the benchmark ASX 200 has fallen by 2.15%.

It’s all about earnings today for ASX health stocks. Here’s a highlight of where they stand in the first half.

Roundup of first half results

Trajan Group (ASX:TRJ)

Revenues of $43.7m, up 16.8% on pcp.
Normalised EBITDA aligned with prospectus plan at $4.8m.

Trajan has a dual growth strategy focused on continued strong organic growth, and strategic acquisitions and investments.

During the half, Trajan acquired the businesses of Axel Semrau, Neoteryx, LEAP Pal Parts and Consumables.

Full year FY22 revenue forecast is between $104.0m and $110.0m (Prospectus forecast $82.6m), driven by organic growth and contributions from those acquisitions.

Althea Group (ASX:AGH)

Revenues $9.38m, up 84% on pcp.
Loss of $7.045m, down 14.9%.

Pharmaceutical and recreational divisions of AGH experienced strong growth and market expansion in the half, with record receipts recorded for both.

The first half of FY22 was AGH’s best result to date.

Capitol Health (ASX:CAJ)

Revenue of $94.8m, up $9.5m or 11.2% on pcp.
Statutory NPAT of $8.1m, up $1.9m or 30.2% on pcp.
Fully franked interim dividend of 0.5 cents per share has been maintained.

Despite the growth, CAJ says revenue was impacted by Victoria’s sixth lockdown and the Omicron variant impacts in late December.

During the half, CAJ opened a greenfield clinic in Pakenham, with the site performing to the company’s expectations. Two other greenfield clinics are planned to open by 30 June.

Cogstate (ASX:CGS)

Record revenue of $23.1m, up 67% on pcp.
NPAT of $6.1m, up from loss of $0.4m in the pcp.

CGS says clinical trials sales contracts executed during the half reflect the continued increase in investment in Alzheimer’s disease research by large pharmaceutical companies.

The company has forecast FY22 revenue to come in the range of $44-$47m, with operating expenses to remain in the range of 31%-33% of revenue.

This will take its FY22 EBIT margins to a range of 20%-24%, up from previous guidance of 15%-18%.

Other ASX Healthcare news

Argenica Therapeutics (ASX:AGN) announced that data from the recently completed genotoxicity studies show that AGN’s lead drug ARG-007 will not likely pose a genetic or carcinogenic risk to patients, and does not cause any structural damage to chromosomes in mammalian cells.

A draft ethics submission has been prepared for review by Bellberry, the Human Research Ethics Committee, for the upcoming Phase 1 clinical trial.

Cannabis company Zelira Therapeutics (ASX:ZLD) will acquire 100% of fellow ASX-listed Health House International (ASX:HHI).

Under the binding agreement, Zelira will issue shares to Health House giving it a 19.45% interest in the expanded Zelira.

Zelira believes the acquisition will create an organisation with strong medicinal cannabis product and distribution capabilities. Health House is an international distributor of medicinal cannabis and holds a number of strategic licences in Europe.