Blood cancer is becoming a big killer but there are only a handful of ASX stocks fighting it
Health & Biotech
Health & Biotech
Link copied to
There are several ASX stocks fighting cancer but only a few are addressing blood cancers.
The Leukaemia Foundation has released figures showing that blood cancers are becoming an increasing concern, having grown by 30 per cent over the last decade and expected to more than double by 2035.
They are now the second most diagnosed cancer in Australia. They are also the second most common cause of cancer related deaths in the country.
One notable stock is Race Oncology (ASX:RAC) which has grown from 5 cents to over $1.65 in 18 months.
It is targeting several cancers but has focused on a rare blood cancer called acute myeloid leukemia (AML) with a drug called Bisantrene.
But Race picked it up and last June it notched up solid results from a Phase II clinical trial against AML.
Another stock is Prescient Therapeutics (ASX:PTX) which is targeting multiple cancers, one of which is is AML.
Prescient also possesses a cell therapy (OmniCAR) which is designed to block growth signals found in cancer cells rather than drugs.
While these two ASX stocks fight blood cancer with drugs or therapy, there are a handful of others seeking to improve diagnostics of cancers generally.
The best performer in the past 12 months is Rhythm Biosciences (ASX:RHY) which is developing a blood-based cancer detection test, albeit for bowel cancer.
The company has grown from 4 cents to $1.17 in less than a year as it has advanced closer to its flagship 1,000 patient clinical trial.
At Stockhead, we tell it like it is. While Prescient Therapeutics is a Stockhead advertiser, it did not sponsor this article.