ASX Health Stocks: Telix tumbles 17pc, Emyria to import MDMA after approval in Canada

Telix Pharma down 17pc despite showing positive Q3 growth metrics
Emyria to import MDMA to Australia after approval in Canada
Vitura Health and Microba acquired new assets

Telix tumbles -17pc

Telix Pharma (ASX:TLX) tumbled -17% this morning despite all its Q3 growth metrics pointing upwards.

The radiopharmaceuticals focused company reported Q3 revenue of $133.6m, which was up from $120.7m in the previous quarter.

Telix also reported its fourth consecutive quarter of positive operating cash flow of $21.4m, up $10.6m on the prior quarter.

Separately, the company released an interim readout of its ProstACT SELECT Study of TLX591, with the study achieving its primary objectives.

TLX591 is Telix’s therapy candidate for treating – deep breath – prostate specific membrane antigen (PSMA) positive metastatic castration-resistant prostate cancer (mCRPC).

The primary clinical objective of the ProstACT SELECT Study was to determine whole-body distribution and organ radiation, and assess the safety and tolerability of TLX591, when administered in combination with standard-of-care.

The study has achieved these primary objectives, confirming the safety and tolerability profile of TLX591 administered in two cycles, 14 days apart (total cumulative dose 152mCi).

Results also showed that radiation exposure to key organs is well within prescribed safety limits.

64% of patients had a PSA (prostate-specific antigen) reduction, with 27% demonstrating a 30% reduction and 18% demonstrating a 50% reduction.

Colin Hayward, Telix chief medical officer, said: “The SELECT study provides further validation of the potential of TLX591, a first-in-class rADC therapy and the use of PSMA imaging with small molecules to select patients for antibody-based PSMA therapy.”

Emyria gets go-ahead to import MDMA

Emyria (ASX:EMD) will commence importation of MDMA into Australia after receiving notification that Health Canada export permits have met all regulatory requirements.

The approval follows the start of active dosing in Emyria’s ethics-approved MDMA-assisted therapy trial (MDMA-AT) in Australia earlier this month.

The company believes the initial supply of MDMA can support the MDMA-AT program for up to 70 patients.

Emyria says MDMA is pivotal for both this ongoing trial and, potentially, direct patient care if the company receives Authorised Prescriber (AP) status from the TGA.

Currently, Emyria’s AP applications await ethics committee review, with subsequent TGA approval also required.

MDMA-AT for Post-Traumatic Stress Disorder was demonstrated to be highly effective and safe in second Phase 3 clinical trial results published by MAPS last month.

Vitura and Microba on acquisition trails

Vitura Health (ASX:VIT) is set to acquire the entire issued capital of Brisbane-based Doctors on Demand for $25 million, comprising an upfront cash component, a deferred cash component and an equity component.

Founded in 2015, Doctors on Demand operates a digital platform to facilitate the treatment of patients and the provision of telehealth services by Australian registered healthcare practitioners via videoconference.

Meanwhile, Microba Life Sciences (ASX:MAP) will acquire UK registered company, Invivo Clinical, for approximately $12.5 million, plus up to $8.7 million in earn-out consideration.

The company will fund the acquisition through the launch of a $20m entitlement offer.

Invivo is a pioneer in UK microbiome testing, and the acquisition could put Microba in a leading position with an established customer and geographical base in the UK.