Check up: COVID-19 is back in fashion
Health & Biotech
Health & Biotech
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Here’s our fortnightly wrap of all the news driving ASX health stocks.
Of the ASX’s 132-odd small cap health stocks and of those which were trading on Wednesday, 64 were in positive territory over the last fortnight, 11 were flat and 67 saw their share prices fall.
Immuron (ASX:IMC) is raising $US20m on the back of news that one of its drug candidates might help with COVID-19 symptoms.
While it’s better known for its travellers’ diarrhoea pills, a petri dish assessment of IMM-124E demonstrated neutralising activity against the virus, meaning it was able to inhibit replication.
Immuron’s theory is that diarrhoea is a common symptom in another coronavirus, bovine coronavirus, and it’s becoming an increasingly common COVID-19 symptom.
The US Centre for Disease Control and Prevention recently included it on its list of symptoms, while the inner-gut lining expresses high amounts of an enzyme which COVID-19 uses to gain entry into cells.
Medibio (ASX:MEB), which has a corporate well-being product ilumen, which screens people for symptoms of depression, anxiety, and stress, was up for no discernible reason.
As pointed out by Stockhead however, it submitted an application for FDA approval at the end of April for its sleep staging software MEBsleep, a system that uses artificial intelligence and “neural network methodology” to identify changes in the five stages of sleep necessary to diagnose sleep disorders.
It expects that process to take about four months, meaning a decision should come around the end of August, all things going well.
Sperm separator Memphasys (ASX:MEM) is moving into the commercialisation (read: money making) phase and rewarded its executives with vested performance options.
The milestone reached to allow the vesting was passing all legal and regulatory hurdles for distribution into Canada.
Commercial sales are expected to start once the company has completed verification and validation tests on the final manufactured product, around the December quarter this year — bang on when the company has guided that sales will start.
One of the compounds is among only few qualified treatments for sepsis or blood poisoning that also has a great capability against a broad range of superbugs, and is one of the first new anti-infectives to be developed in the last 30 years.
Recce’s youthful boss James Graham, 30, famously put his $100,000 house deposit into the drug company early last year.
And controversial cancer hopeful Noxopharm (ASX:NOX) says pre-clinical data from two research groups confirms that idronoxil, the active ingredient in its main drug candidate Veyonda helps restore immune function within ‘COLD’ micro-tumours by converting them to ‘HOT’.
A COLD tumour is one that contains few infiltrating T cells and are not recognised and do not provoke a strong response by the immune system, making them difficult to treat with current immunotherapies.