ASX Health Stocks: Noxopharm soars 40pc on pancreatic tumour-tackling drug results

Noxopharm’s CRO-67 shows significant tumour reduction
The drug effectively targets both cancer and protective barrier cells
Pro Medicus’ full-year net profit rises 36.5pc

Noxopharm’s drug overcomes tumour barriers

Noxopharm (ASX:NOX) jumped more than 40% this morning after releasing promising new data about its CRO-67 drug, which targets pancreatic cancer.

The drug is designed to overcome the challenge posed by the dense barrier of cells surrounding pancreatic tumours, which typically protects the tumours from both anti-cancer drugs and the body’s immune system.

CRO-67 works by targeting and destroying both the cancerous cells and these protective barrier cells.

The study, conducted in partnership with UNSW Sydney, used a highly sophisticated model where human pancreatic cancer cells and barrier cells were transplanted into the pancreas of mice.

This model closely replicates the human tumour environment, providing a more accurate test of the drug’s efficacy.

The study produced three major outcomes:

a significant reduction in the growth rate of tumours,
a marked decrease in the number of barrier cells,
and a notable reduction in the spread of cancer to other organs.

Additionally, the research revealed that CRO-67 significantly increased the level of low-density collagen by 71%, which helps weaken the barrier surrounding the tumours and potentially improves drug access.

The study also confirmed that CRO-67 was well tolerated and safe at the administered doses, with no significant adverse effects observed.

Noxopharm CEO Dr Gisela Mautner said the outcome of these studies show that CRO-67 continues to have a dual-cell therapy effect in pancreatic cancer, including this complex model where the bar is set much higher.

“This data will be used to inform the next steps of our project, and will also be important in future regulatory contexts.

“Pancreatic cancer has a very poor survival rate.

“There is clearly an unmet need to develop new treatments, either alone or in combination with existing treatments, to help alleviate patient suffering and help save many lives.”

Pro Medicus delivers strong year-end results

Imaging IT provider Pro Medicus (ASX:PME) has announced financial results for the year ending June.

The company achieved a net profit of $82.8 million, marking a 36.5% increase from the previous year.

Revenue grew by 29.3% to $161.5 million, and its cash and equivalents rose by 27.9% to $155.4 million.

Pro Medicus remains debt-free and declared a fully franked final dividend of 22 cents per share, bringing the total annual dividend to 40 cents, up 33.3%.

The company saw significant growth in North America, with revenue up 34.4%, and in Australia, up 5.9%.

However, European revenue decreased by 6.7% due to a one-off sale in Germany last year.

During the year, Pro Medicus secured several major contracts, including deals with Memorial Sloan Kettering Cancer Centre, Baylor, Scott and White, and South Shore Health, among others.