• The healthcare sector is experiencing a dry run
  • IPO listings have fallen significantly on weak market appetite 
  • A snapshot of the return of recent ASX Healthcare IPO stocks

We are currently in the longest and steepest bear market for biotech ever.

The NASDAQ Biotechnology Index (NBI) has lost over 21% since peak levels Feb 2021, while the S&P/ASX 200 Health Care [XHJ] index is down 17% since its peak in Feb 2020.

In the US, biotech companies that made their IPO debut in 2021 have seen their stock prices shredded. The IPO class of 2021 for Nasdaq biotechs is down on average by 60%.

But back on domestic shores, the IPO picture doesn’t look as bad.

Here’s a snapshot of ASX healthcare stocks that have listed over the last year or so.

Code Name IPO price Current price Return % since IPO
CHM Chimeric Therapeutics 20c 14c -30%
MAP Microba Life Sciences 45c 38c -15%
ILA Island Pharma 20c 19c -5%
ACL Australian Clinical Labs $4 $5.12 +28%
AGN Argenica Therpaeutics 20c 60c +200%
TRU Truscreen 6.5c 6.7c +3%
SHG Singular Health 20c 21c +5%
TRJ Trajan Group Holdings $1.70 $3.33 +96%
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According to analysts, the more worrying part is the fact that market appetite for biotech stocks has now diminished significantly.

That means it would be harder for early stage biotechs to go public, or even raise funds to fund operating costs.

As a result, many pre-revenue biotechs will have to rely on their limited cash, and in some cases, having to lay off employees just to survive.

In its favour is the fact that Treasurer Josh Frydenberg has just increased Budget funding for the sector.

Being Australia’s biggest employer, the healthcare sector employs 1 in 7 Aussies or roughly two million people.

The 2022-23 health budget sees the sector topping $132bn, up from $62bn a decade ago.

 

Significant  ASX Healthcare announcements

CODE COMPANY PRICE 1 WEEK RETURN % 6 MONTH RETURN % 1 YEAR RETURN % MARKET CAP
OSL Oncosil Medical 0.059 43.9% 28.3% -41.0% $33,278,418
CAN Cann Group Ltd 0.375 33.9% 33.9% -31.8% $132,666,940
ALT Analytica Limited 0.002 33.3% 0.0% -50.0% $9,227,602
RAP Resapp Health Ltd 0.1125 29.3% 65.4% 75.8% $98,807,664
AHK Ark Mines Limited 0.36 28.6% 958.8% 958.8% $11,991,637
MX1 Micro-X Limited 0.2475 20.7% -17.5% -29.3% $112,778,226
PAR Paradigm Bio. 1.36 17.2% -27.3% -47.7% $314,082,197
RNO Rhinomed Ltd 0.235 15.4% -21.1% 97.2% $59,756,100
CBL Control Bionics 0.39 14.7% -32.8% -50.0% $19,629,053
BXN Bioxyne Ltd 0.017 13.3% -26.1% 0.0% $11,522,617
BNO Bionomics Limited 0.0725 11.5% -46.3% -63.8% $96,087,903
OSX Osteopore Limited 0.2 11.1% -28.6% -58.3% $23,453,648
1ST 1St Group Ltd 0.011 10.0% -37.3% -53.5% $5,541,538
RGS Regeneus Ltd 0.063 8.6% -16.0% -51.5% $19,305,526
EYE Nova EYE Medical Ltd 0.285 7.5% -28.8% -14.9% $41,482,830
CHM Chimeric Therapeutic 0.15 7.1% -45.4% -47.2% $44,225,309
OIL Optiscan Imaging 0.16 6.7% -28.9% -38.5% $99,069,696
PXS Pharmaxis Ltd 0.097 6.6% -22.4% 22.8% $48,854,162
ICR Intelicare Holdings 0.1 6.4% 2.9% -63.3% $8,638,026
ACR Acrux Limited 0.09 5.9% -21.7% -40.0% $25,598,880
TSN The Sust Nutri Grp 0.18 5.9% -34.5% -53.8% $19,598,538
AMT Allegra Orthopaedics 0.19 5.6% -17.4% -38.7% $19,847,249
MDC Medlab Clinical Ltd 0.095 5.6% -36.7% -64.2% $30,795,810
AGH Althea Group 0.195 5.4% -29.1% -60.6% $61,527,940
PBP Probiotec Limited 2.35 5.4% 4.9% 14.6% $191,110,004
DVL Dorsavi Ltd 0.021 5.0% 16.7% -41.7% $7,431,507
HXL Hexima 0.32 4.9% -15.8% 88.2% $51,116,400
NC6 Nanollose Limited 0.115 4.5% 42.0% 4.5% $16,377,500
IRX Inhalerx Limited 0.12 4.3% 9.1% 20.0% $21,900,704
CTE Cryosite Limited 0.49 4.3% 40.0% 60.7% $23,916,686
OCC Orthocell Limited 0.42 3.7% -21.5% -14.3% $78,851,165
DXB Dimerix Ltd 0.18 2.9% -34.5% -32.1% $56,152,892
GSS Genetic Signatures 1.295 2.8% -6.2% -15.6% $185,350,107
ALA Arovella Therapeutic 0.042 2.4% -8.7% -4.5% $28,133,079
MDR Medadvisor Limited 0.26 2.0% -18.8% -23.5% $98,311,681
MVF Monash IVF Group Ltd 1.2275 1.9% 31.3% 38.7% $469,509,982
KZA Kazia Therapeutics 1.115 1.8% -22.6% -37.5% $147,221,488
NTI Neurotech Intl 0.058 1.8% 13.7% -21.6% $39,768,850
HGV Hygrovest Limited 0.062 1.6% -15.1% -41.0% $14,027,193
RSH Respiri Limited 0.062 1.6% -4.6% -55.7% $44,816,129
BIT Biotron Limited 0.076 1.3% 43.4% 22.6% $54,750,752
VHT Volpara Health Tech 0.89 0.6% -25.5% -38.6% $215,404,494
SOM SomnoMed Limited 1.94 0.0% -17.4% -2.3% $160,553,071
ATX Amplia Therapeutics 0.14 0.0% -29.3% -44.5% $27,139,560
SCU Stemcell United Ltd 0.014 0.0% 0.0% -33.3% $14,696,981
MEB Medibio Limited 0.004 0.0% -55.6% -50.0% $11,984,951
JTL Jayex Technology Ltd 0.013 0.0% -43.5% -72.3% $3,239,971
IVX Invion Ltd 0.016 0.0% 14.3% 77.8% $96,247,705
ICS ICSGlobal Limited 0.575313 0.0% 0.0% 4.3% $6,054,605
FFC Farmaforce Ltd 0.035 0.0% -31.4% -63.2% $4,573,834
CDX Cardiex Limited 0.36 0.0% -49.3% -46.3% $39,583,332
AVE Avecho Biotech Ltd 0.017 0.0% -5.6% -22.7% $29,405,000
PYC PYC Therapeutics 0.092 0.0% -34.3% -44.2% $292,645,201
PSQ Pacific Smiles Grp 2.19 0.0% -18.6% -22.6% $349,484,444
ADO Anteotech Ltd 0.11 0.0% -48.8% -58.5% $228,507,606
ATH Alterity Therap Ltd 0.019 0.0% -36.7% -42.4% $46,934,054
EPN Epsilon Healthcare 0.042 0.0% -61.8% -80.0% $9,353,692
S66 Star Combo 0.205 0.0% -28.1% -26.8% $27,573,111
BPH BPH Energy Ltd 0.037 0.0% -38.3% -54.3% $24,602,017
PAL Palla Pharma Ltd 0.295 0.0% -9.2% -35.9% $47,764,383
ANP Antisense Therapeut. 0.125 0.0% -44.4% -46.8% $83,599,247
SHG Singular Health 0.205 0.0% 13.9% -57.7% $13,384,259
PAA Pharmaust Limited 0.091 -1.1% -3.2% -6.2% $28,839,027
SDI SDI Limited 0.84 -1.2% -16.0% 1.2% $99,847,045
UBI Universal Biosensors 0.815 -1.2% 7.9% 31.5% $142,390,803
NXS Next Science Limited 0.83 -1.8% -30.8% -44.7% $178,793,836
PNV Polynovo Limited 1.06 -1.9% -38.2% -63.3% $688,155,566
CAJ Capitol Health 0.34 -2.2% -8.1% -6.8% $354,353,954
AN1 Anagenics Limited 0.045 -2.2% -27.4% -38.4% $10,166,980
PCK Painchek Ltd 0.041 -2.4% -8.9% -43.8% $45,272,192
CYP Cynata Therapeutics 0.405 -2.4% -33.6% -32.5% $58,027,021
ALC Alcidion Group Ltd 0.195 -2.5% -43.2% -42.4% $240,933,120
RCE Recce Pharmaceutical 0.925 -2.6% 0.5% -17.0% $162,087,698
AC8 Auscann Grp Hlgs Ltd 0.068 -2.9% -21.8% -49.6% $29,957,203
HCT Holista CollTech Ltd 0.033 -2.9% -44.1% -49.2% $9,086,520
CGS Cogstate Ltd 2.25 -3.0% -2.2% 148.6% $381,336,996
OSP Osprey Med Inc 0.32 -3.0% -60.0% -82.2% $8,210,733
TLX Telix Pharmaceutical 4.39 -3.1% -21.5% 7.9% $1,358,267,490
MVP Medical Developments 3.73 -3.1% -23.3% -33.3% $265,874,613
LBT LBT Innovations 0.084 -3.4% -27.0% -15.2% $26,871,730
NSB Neuroscientific 0.275 -3.5% -31.3% 5.8% $37,302,627
DOC Doctor Care Anywhere 0.26 -3.7% -60.3% -75.5% $60,213,329
1AD Adalta Limited 0.072 -4.0% -15.5% -60.7% $22,621,302
TD1 Tali Digital Limited 0.0115 -4.2% -58.5% -78.9% $11,788,608
TRU Truscreen 0.067 -4.3% 15.5% -22.1% $24,312,039
IMC Immuron Limited 0.11 -4.3% -18.5% -44.3% $25,057,818
NEU Neuren Pharmaceuticals 3.8 -4.5% 91.0% 171.4% $484,967,853
4DX 4Dmedical Limited 0.725 -4.6% -43.4% -58.6% $148,358,592
PIQ Proteomics Int Lab 1.135 -4.6% 27.5% -14.0% $119,447,639
OVN Oventus Medical Ltd 0.038 -5.0% -68.3% -81.0% $9,185,608
ZLD Zelira Therapeutics 0.018 -5.3% -55.0% -70.5% $30,151,835
TRP Tissue Repair 0.345 -5.5% 0.0% 0.0% $14,838,421
IDT IDT Australia Ltd 0.17 -5.6% -71.4% -47.7% $39,768,597
M7T Mach7 Tech Limited 0.67 -6.3% -27.2% -51.3% $164,465,673
MXC Mgc Pharmaceuticals 0.022 -6.4% -59.3% -66.7% $62,544,642
GLH Global Health Ltd 0.29 -6.5% -17.1% -43.7% $16,428,432
BWX BWX Limited 2 -6.5% -58.2% -59.3% $321,169,885
IIQ Inoviq Ltd 0.78 -6.6% -26.1% -76.9% $70,854,401
IBX Imagion Biosys Ltd 0.056 -6.7% -21.1% -61.4% $62,788,238
BOT Botanix Pharma Ltd 0.083 -6.7% 23.9% -8.8% $78,824,508
ONE Oneview Healthcare 0.2 -7.0% -51.8% -50.0% $103,476,949
EZZ EZZ Life Science 0.33 -7.0% -38.3% -54.8% $4,338,400
CYC Cyclopharm Limited 1.505 -7.1% -8.8% -42.3% $140,529,109
IPD Impedimed Limited 0.13 -7.1% 0.0% -7.1% $213,345,568
AHC Austco Healthcare 0.12 -7.7% -14.3% 27.7% $34,450,280
IMU Imugene Limited 0.23 -8.0% -45.2% 39.4% $1,228,093,197
AT1 Atomo Diagnostics 0.115 -8.0% -66.7% -51.1% $46,999,389
PGC Paragon Care Limited 0.385 -8.3% 22.2% 71.1% $228,194,319
PAB Patrys Limited 0.022 -8.3% -46.1% -21.1% $49,361,994
EXL Elixinol Wellness 0.055 -8.3% -38.9% -69.4% $17,394,606
CMP Compumedics Limited 0.27 -8.5% -30.8% -40.7% $47,833,996
ARX Aroa Biosurgery 0.745 -8.6% -36.3% -36.9% $255,133,544
ADR Adherium Ltd 0.01 -9.1% -33.3% -41.2% $22,082,511
NYR Nyrada Inc. 0.19 -9.5% -20.8% -37.7% $28,861,610
VTI Vision Tech Inc 0.56 -9.7% -45.1% -65.0% $13,457,114
PTX Prescient Ltd 0.14 -9.7% -36.4% 33.3% $94,299,765
LDX Lumos Diagnostics 0.325 -9.7% -64.3% 0.0% $49,002,518
IHL Incannex Healthcare 0.46 -9.8% 33.3% 104.4% $556,773,881
GTG Genetic Technologies 0.0045 -10.0% -35.7% -55.0% $36,935,861
VLS Vita Life Sciences.. 2.13 -10.1% 42.0% 91.9% $115,835,746
NOX Noxopharm Limited 0.31 -10.1% -41.5% -54.7% $87,671,385
RAD Radiopharm 0.22 -10.2% 0.0% 0.0% $24,904,564
RAD Radiopharm 0.22 -10.2% 0.0% 0.0% $24,904,564
RAC Race Oncology Ltd 2.48 -10.5% -23.0% -17.3% $392,418,664
RHT Resonance Health 0.115 -11.5% 32.2% -41.0% $52,997,978
OPT Opthea Limited 0.95 -12.0% -25.2% -40.3% $341,381,102
LCT Living Cell Tech. 0.007 -12.5% -33.4% -43.7% $7,198,546
ACW Actinogen Medical 0.086 -14.0% -21.8% 95.5% $149,490,081
RHY Rhythm Biosciences 1.46 -14.1% 19.7% 22.5% $301,852,137
IMM Immutep Ltd 0.335 -15.2% -35.6% -24.7% $294,521,537
CU6 Clarity Pharma 0.55 -15.4% -48.6% 0.0% $98,207,596
ILA Island Pharma 0.19 -15.6% -42.4% -24.0% $8,865,497
VBS Vectus Biosystems 1.17 -15.8% -22.0% 4.5% $44,184,164
BDX Bcaldiagnostics 0.105 -16.0% -38.2% 0.0% $16,446,508
ZNO Zoono Group Ltd 0.2475 -16.1% -40.4% -72.3% $41,186,897
CPH Creso Pharma Ltd 0.066 -16.5% -40.0% -67.0% $84,259,013
MEM Memphasys Ltd 0.056 -20.0% -9.7% -21.1% $44,361,987
ONT 1300 Smiles Limited 0 -100.0% -100.0% -100.0% $168,827,115
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OncoSil Medical (ASX:OSL)

Medical device company OncoSil surged 40% on Wednesday following the first ever pancreas treatment conducted using its device in Europe.

The procedure was performed at The Hospital Universitario de Fuenlabrada, located in Madrid, Spain.

The OncoSil device is a single-use brachytherapy used to deliver a dose of beta radiation directly into cancerous tissue.

The beta radiation emitted by the device travels a short distance within the tumour tissue, causing direct damage to the cancer cell DNA.
The device already has a CE Mark in Europe and the UK, and received a Breakthrough Device designation in the US.

Cann Group (ASX:CAN)

Cann has surged 20% over the past week after it was granted the necessary permit by the Office of Drug Control (ODC), to allow the manufacture of medicinal cannabis products at its Mildura facility.

Cann says it’s continuing to work with the Therapeutic Goods Administration (TGA) on the GMP licence application for the Mildura site, and expects to have that licence in place in coming months.

Cann is authorised to sell extracts produced in Mildura as an Active Pharmaceutical Ingredient (API).

Recce Pharma (ASX:RCE)

Recce has been granted a patent in Hong Kong for its RECCE Anti-Infectives drug.

The patent covers the composition and method of manufacturing the RECCE anti-infectives, including the use of drugs R327 or R529 to treat viruses such as SARS-CoV-2.

Recce says the pharmaceutical market in Hong Kong is valued at US$2.3 billion, with ever rising demand for chronic disease treatment.

ResApp Health (ASX:RAP)

Smartphone-based health company ResApp Health surprised the market on Monday after revealing that global giant Pfizer wants to buy out the company.

Pfizer offered RAP’s shareholders 11.5 cents a share, valuing ResApp at around $100m.

The ResApp Board has unanimously recommended that shareholders vote in favour of the offer.

RhinoMed (ASX:RNO)

RhinoeMed surged over 20% on Tuesday after coming out of a trading halt.

On April 8, RhinoMed announced that it was tapping the market for another $5m in cap raise.

The funds will be used to expand the sale of its Rhinoswab and Rhinoswab Junior in international markets.

NeuroScientific Biopharma (ASX:NSB)

NSB rallied 10% on Wednesday after a successful human study of lead drug, EmtinB.

In the Preclinical Safety and Toxicology Program, EmtinB was shown to be safe with no major adverse effects or toxicology findings reported.

These results have now given NSB confidence to commence a first-in-human clinical trial, pending an ethical approval expected in May.

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