ASX Health Stocks: Results show revenue is growing in first half, but profitability still elusive
Health & Biotech
Health & Biotech
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The ASX 200 Health Index (XHJ) is trading higher by 0.27% at the time of writing, compared to the broader index which is trading flat.
More half year earnings results were announced this morning. Here’s a recap and highlight on where things stand.
Total revenue : €9.73m, up 37% on pcp.
Net loss after tax €8.19m, down 13% on pcp.
OneView had a net operating cash inflow for the first time in its history, with cash inflows totaling €1.3m for the half.
Cash balances of €15.2m represent nearly four years cash, based on the average 2021 burn of €981k per quarter.
The company has also reaffirmed its revenue guidance for FY22 of €12.5-€14m.
Revenue $5.977m vs $3.546m in the pcp.
Loss before income tax -$48.7m vs loss of $50.89m in the pcp.
Mesoblast has recorded a loss as it conducted ongoing activities to commercialise a range of drugs to the market, which includes a drug to treat GVHD (graft versus host disease).
GVHD is a severe inflammation in the bloodstream caused by complications of bone marrow transplants.
Mesoblast has a strong and extensive global intellectual property portfolio with patent protection extending through to at least 2041 in major markets.
Revenue of $38.7m, up 199% on pcp.
NPAT loss of $7.7m.
Despite the loss, the company signed key deals during the half which could build into future revenues.
It signed a five-year deal with Australian Pharmaceutical Industries (Priceline), as well as a deal with US giant Walmart.
In the Walmart deal, MedAdvisor will be providing a full suite of its adherence solutions (including digital, in-pharmacy print and direct mail) to Walmart customers.
Revenue $18.1m, up 41.9% on pcp.
Net loss of $1.7m.
Revenue was underpinned by strong sales results in the US, which saw a record $14.2m in BTM sales.
The NovoSorb BTM is a bioabsorbable dermal matrix developed for the treatment of full thickness wounds, where the dermal structure has been lost due to trauma or surgical debridement.
The company said long lockdowns during the half had practically cancelled elective surgery, but the company expects better times ahead.
Probiotec has updated its FY22 trading guidance, and says full year FY22 revenue will now come in at between $175m and $180m, and underlying EBITDA between $32m and $33m.
The company says the upgraded outlook is a result of it securing new contract wins and new business demand enquiries.
Clinical-stage radiopharmaceutical company, Clarity Pharma (ASX:CU6), has successfully treated its first participant in cohort 2 for its neuroblastoma therapy trial.
The patient was dosed at the increased dose level of 175MBq/kg body weight.
Neuroblastoma most often occurs in children younger than 5 years of age and presents when the tumour grows and causes symptoms.
It is the most common type of cancer to be diagnosed in the first year of life and accounts for around 15% of paediatric cancer mortality.