Check Up: As Omicron rages, rapid antigen testing specialist Atomo surges nearly 50pc
Health & Biotech
Health & Biotech
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At the time of writing, the ASX XHJ Healthcare index is up 5.55% over the last five trading days, beating the ASX200 benchmark index which was up 2.8% for the period.
Here’s a table showing how ASX-listed healthcare stocks have been performing.
Atomo Diagnostics (ASX:AT1) was the best performing healthcare stock this week, as the Omicron variant continues to rage across Australia particularly in NSW and VIC.
Atomo provides rapid testing products and benefits from COVID testing.
Rapid testing has only been permitted by the TGA in recent months, and Atomo is one such provider. After selling less than 5,000 units in all of FY21, it sold 100,000 units in the September quarter alone.
Blood pressure specialist CardieX Limited (ASX:CDX) is up by more than 30% for the week on no particular news.
The stock has however been riding on a “speculative buy” recommendation initiated by a leading independent analyst, Blue Ocean Equities.
Blue Ocean has put a target price on CDX at 16c vs the current share price of 6.5c.
The analysts pointed to CDX early-stage growth potential, and the impending nature of the FDA clearance process for its new product suite as the main reasons for the buy recommendation.
Among the suite of products CardieX is developing is a “dual blood pressure monitor” – the “CONNEQT Pulse” – which is anticipated to be the world’s first consumer vital signs monitor to include central blood pressure and other advanced arterial health biometrics.
OncoSil Medical (ASX:OSL) surged after releasing the final results of the PanCO clinical study for the treatment of advanced pancreatic cancer.
The full paper was published in ESMO Open, the European Society for Medical Oncology’s peer-reviewed journal dedicated to publishing high-quality medical research.
Conducted at ten specialist centres in Australia, Belgium and the UK, the study demonstrated that lead drug OncoSil had an acceptable safety profile when added to standard-of-care chemotherapy.
Immuron (ASX:IMC) has been one the worst performers over the past week, despite new data showing that its lead product, IMM124E, had potential antiviral benefits.
The study of IMM124E showed that it could boost immunity across viral strains, including the SARS-2 virus that causes COVID-19 disease.
The company is also collaborating with the US Department of Defence to initiate a clinical trial program to study Travelan, a dietary supplement product to treat diarrhoea.
Bionomics (ASX:BNO) dropped after announcing the completion of an IPO in the US in which it raised around US$20m.
The new 1,622,000 American Depositary Shares (ADS) started trading on the Nasdaq Global Market on December 16, under the ticker symbol “BNOX”.
Neuroscientific Biopharma (ASX:NSB) released positive results from the recently completed off-target safety assessment of its lead drug candidate, EmtinB.
Off-target safety assessments help to identify unintended interactions between a drug and a host of biological targets that are known to cause adverse side effects and toxicities in humans.
The assessment involved a comprehensive in-vitro screening program prior to the first in-human Phase I clinical study, which is expected to commence in the first half of 2022.
Cell therapy specialist, Cynata Therapeutics (ASX:CYP), has signed an agreement with FujiFilm Cellular Dynamics (FCDI) to manufacture Cynata’s Cymerus therapeutic mesenchymal stem cell (MSC) products.
According to CEO Dr Ross Macdonald, who spoke to Stockhead recently, MSC is the hottest segment of stem cell therapy at the moment.
In short, MSC therapies work by expressing a variety of chemokines and cytokines that aid in repair of degraded tissue, and counteract inflammation. Because MSCs play a co-ordination role within the immune system, they can be used to treat different diseases.
Currently, the biggest problem facing MSC-based therapies is how to manufacture these products on a mass scale, according to Dr McDonald.