Check up: Enthusiasm rather than news is moving health stocks
Health & Biotech
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Here’s our fortnightly wrap of all the news driving ASX health stocks.
Of the ASX’s 136-odd small cap health stocks, 47 saw their share prices fall, 67 improved and 22 were flat.
>> Scroll down for a table showing the performance of small cap health stocks over the past fortnight
It was a good fortnight for health small caps, but an even better one for marijuana health companies for a change.
Twelve of the 30-odd cannabis stocks made respectable gains over the last fortnight, no mean feat given the sector has been in the doldrums since February 2018.
Of the non-cannabis biotechs that were among the 35 that made double-digit gains, only five had news that may have generated share price movement.
Genetic Technologies (ASX:GTG) came through on its promise to tell investors when it’ll start selling its latest cancer risk test (this quarter, in the US).
Kidney disease researcher Dimerix (ASX:DXB) said an independent Safety Review Committee had unanimously recommended a phase 2a study on Focal Segmental Glomerulosclerosis (FSGS) and a phase 2 trial on diabetic kidney disease goes ahead as planned.
FSGS is a nasty and rare disease that attacks the kidney’s filtering units, causing serious scarring. That leads to permanent kidney damage and kidney failure.
Dimerix’s drug, DMX-200, for FSGS has been granted Orphan Drug Designation by the FDA and EMA, a designation to encourage the development of drugs for rare diseases that qualifies Dimerix for various incentives.
These include seven years (FDA) and 10 years (EMA) of market exclusivity if regulatory approval is received, exemption from certain application fees, and an abbreviated regulatory pathway to approval.
The FSGS study completed recruitment in July 2019, with the last patient dosed in September 2019 following final protocol screening. The study remains on track to complete final patient dosing in June 2019.
The diabetic kidney disease study completed recruitment in September 2019, with the last patient dosed in January 2020. Final patient dosing is scheduled for July 2020.
Last week Immutep (ASX:IMM) made a similar announcement, that it was proceeding with recruitment of an additional 19 patients for the third part of its phase 2 TACTI-002 study for patients with second line head and neck squamous cell carcinoma.
The company noted it was receiving good results from the initial stage of the third part of the study.
Adherium (ASX:ADR) has appointed Jane Lapon as head of global market access and reimbursement, a new role to commercialise existing products.
And Cynata Therapeutics (ASX: CYP), a biotech specialising in cell therapeutics, received $1.9m as an R&D tax refund for 2019-20.