ASX Health Stocks: PIQ leaps 9pc on blood test results; Respiri gains 6pc on Wheezo order
Health & Biotech
Health & Biotech
The ASX 200 Health Index (XHJ) and the benchmark ASX 200 are trading flat today.
Investors gave Proteomics International Laboratories (ASX:PIQ) the thumbs up after the company said it has identified and validated a panel of protein biomarkers with the potential to treat oesophageal cancer.
Since October 2020, Proteomics and QIMR Berghofer have been collaborating on the development of a simple blood test for oesophageal adenocarcinoma, the most common form of oesophageal cancer.
The blood test used a panel of biomarkers, or protein ‘fingerprints’ in the blood, initially identified by QIMR Berghofer researchers, searching for early-stage oesophageal adenocarcinoma.
“From these, we’ve been able to identify a select panel of biomarkers with the potential to be used as a diagnostic test,” said Proteomics CEO, Dr Richard Lipscombe.
“Importantly we have also completed validation of the panel using blood samples from more than 300 patients,” he said.
The results of the study build upon Proteomics’ experience acquired in developing its PromarkerD, and will be presented today at the annual conference of the Australasian Proteomics Society.
Proteomics is separately seeking a US FDA approval for a “kit” version of its predictive diagnostic blood test for diabetic kidney disease.
A recent study showed that its PromarkerD predictive test can improve clinical outcomes for patients with Type-2 diabetes.
It’s a simple blood test that can predict future kidney function decline in patients with this type of diabetes, as well as predict a decline in renal function up to four years in advance.
The PIQ stock price was up almost 9% after the news.
E-health respiratory company, Respiri Health (ASX:RSH), says that mTelehealth has placed a second order for additional Wheezo devices.
This represents an additional revenue of US$24k for Respiri, on top of the US$150k order it received from the same company just before Christmas.
Although not material, Respiri believes the purchase order could have a long term strategic result as mTelehealth is expected to educate senior medical decision makers on the benefits of Wheezo.
The Wheezo handheld device is said to be a world-first technology that detects wheeze, a typical symptom of asthma, COPD (chronic obstructive pulmonary disease), and other respiratory diseases that can cause airway obstruction.
Over 600 customers have been targeted by mTelehealth, with many of them already requesting the Wheezo devices following negotiations.
These 600 customers provide health insurance cover and healthcare delivery for approximately 128 million Americans and roughly 19 million asthma and COPD sufferers across the US.
“Our partnership with mTelehealth has developed quickly, and the progress they have made with customers in only two months’ customer engagement has exceeded all our expectations,” commented Respiri CEO, Marjan Mikel.
“This is a key step in seeking to get reimbursed Wheezo devices into the hands of patients that need it,” he said.
The RSH stock price was up 6% after the news.