Check up: Health sector slips as earning season ends
Health & Biotech
Health & Biotech
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Here’s our fortnightly wrap of all the news driving ASX health stocks.
The health sector moved backwards over the last fortnight, with 89 life sciences losing ground and just 59 gaining it. Another 13 companies were flat.
Starpharma Holdings (ASX:SPL) was the biggest gainer, up 56 per cent after the Melbourne dendrimer nanotechnology company said it was making strong progress with an antiviral nasal spray for use against COVID-19.
The SPL7013 spray has proven effective against SARS-CoV-2, Starpharma said, adding that it has compiled documentation in preparation for regulatory approvals.
The institutional and high net worth individuals who invested at 24c a share are looking at a nominal 40 per cent return in just two weeks, based on Wednesday’s 34c closing price — although they won’t receive their shares for a few more days yet.
Closely watched stem cell biotech Mesoblast (ASX:MSB) was more or less flat on the fortnight with a 1 per cent rise, ahead of a key US Food and Drug Administration ruling this month on whether to approve its graft-versus-host disease drug candidate Ryoncil.
Bionomics (ASX:BNO) was the second-biggest gainer for the fortnight. In an August 27 response to an ASX price query, Bionomics said it couldn’t explain the rise in the company’s shares.
The South Australia-based biopharmaceutical company is working to develop treatments for central nervous system disorders such as anxiety and depression.
Visioneering Technologies (ASX:VTI), which makes a multifocal contact lens designed to reduce the progression of myopia (nearsightedness, or blurry distance vision), similarly had no explanation for the recent rise in its shares in an August 26 letter to the ASX.