Here’s our monthly wrap of all the news driving ASX health stocks.

Plenty of people are reticent about the effect artificial intelligence will have on our lives, but ASX small cap health investors don’t appear to be among them.

The biggest mover in the health sector since we last checked in on the 140-odd small cap health stocks is Resonance Health (ASX:RHT), having risen 234 per cent from a piddling 2.9c to 9.7c on Tuesday, and as high as 12.2c last week.

Behind the move is a pivot to artificial intelligence. Chief Alison Laws told Stockhead an expansion into AI and selling through channel partners and distributors such as the Blackford Analysis platform and EnvoyAI in the US was the foundation for the rise.

The company got FDA approval in November for its AI product Ferrismart, an AI-based version of their existing Ferriscan system, which measures iron concentrations in the liver via MRI.

Phosphagenics (ASX:POH), a company with a patented drug delivery system called TPM, is technically the next best with a 67 per cent rise — but that is just two-tenths of a cent in reality.

The company lost the vast majority of its value when it lost a court case in early November, and was trading at 0.5c on Tuesday.

Avita Medical (ASX:AVH) shot up 64 per cent, boosting its market cap to $224 million and share price to 12.5c after launching its spray-on skin in the US.

The RECELL System uses a small amount of a patient’s own skin to prepare spray-on skin cells at the point of care in as little as 30 minutes, providing a new way to treat thermal burns.

Wearables play CardieX (ASX:CDX), which is led by the charismatic serial entrepreneur Craig Cooper, has had a slew of news in the last couple of months, which has driven its share price up 42 per cent to 4.7c.

It raised $5.5 million in funding, signed agreements to develop more sensor technology, a collaboration with US electronics and medical devices company GEMDC and executed a marketing agreement with a big health insurer in the US.

Dodgy knee fixer Paradigm Biopharma (ASX:PAR) hit an all-time high thanks to data from a Phase II clinical trial showing its drug iPPS worked in patients with osteoarthritis knee pain.

It has mellowed since, and was trading at $1.14 on Tuesday, still an 18 per cent improvement on the price before the trial read-out.

>> Scroll down for a table showing the performance of small cap health stocks over the past month

Just 36 stocks in total have seen share price rises since November, however. A whopping 97 have lost value, six were flat, while we waved goodbye to Zenitas, which was taken private by a consortium led by Adamantem Capital and Liverpool Partners. Overall, health stocks are down 10 per cent.

Factor Therapeutics (ASX:FTT) has endured the most pain, with the company all but ceasing to exist thanks to a failed clinical trial.

Innate became Amplia (ASX:ATX), and in a case of very bad timing the US Justice Department and FBI began proceedings against former director Chris Collins in relation to share dealing during a trading halt.

Its shares have fallen 49 per cent to 26.5c.

Medibio (ASX:MEB), which was once trumpeting its tech test for mental health conditions under long-time health board-hopper Jack Cosentino before he left in October, has continued to fall.

By Christmas eve, its boardroom had become a revolving door and it was slashing costs. Its shares are down 48 per cent to 0.4c.

Here’s a table showing price performance for the ASX’s small cap health stocks since mid-November.

Swipe or scroll to reveal full table. Click headings to sort

ASX code Company Price Nov 12 Latest price Percentage change Market Cap
RHT RESONANCE HEALTH LTD 0.029 0.097 234% $39.8m
POH PHOSPHAGENICS LTD 0.003 0.005 67% $6.3m
AVH AVITA MEDICAL LTD 0.076 0.125 64% $223.7m
CDX CARDIEX LTD 0.033 0.047 42% $31.6m
EXL ELIXINOL GLOBAL LTD 2.04 2.83 39% $351.2m
OPT OPTHEA LTD 0.575 0.78 36% $190.8m
JHL JAYEX HEALTHCARE LTD 0.02 0.027 35% $4.5m
ACW ACTINOGEN MEDICAL LTD 0.045 0.057 27% $68.8m
EHH EAGLE HEALTH HOLDINGS LTD 0.175 0.22 26% $63.8m
GSS GENETIC SIGNATURES LTD 0.575 0.72 25% $82.2m
ADO ANTEO DIAGNOSTICS LTD 0.014 0.017 21% $19.7m
CYP CYNATA THERAPEUTICS LTD 1.12 1.36 21% $136.5m
CPH CRESO PHARMA LTD 0.455 0.54 19% $67.1m
PAR PARADIGM BIOPHARMACEUTICALS 0.96 1.1375 18% $161.1m
BIT BIOTRON LTD 0.1 0.1175 18% $74.4m
CYC CYCLOPHARM LTD 0.965 1.12 16% $76.9m
SOM SOMNOMED LTD 1.61 1.8 12% $113.7m
PIQ PROTEOMICS INTERNATIONAL LAB 0.34 0.375 10% $30.2m
SDI SDI LTD 0.58 0.635 9% $77.3m
NHL NOVITA HEALTHCARE LTD 0.029 0.031 7% $13.9m
MVF MONASH IVF GROUP LTD 0.9 0.945 5% $220.2m
RAP RESAPP HEALTH LTD 0.1 0.105 5% $69.3m
RVA REVA MEDICAL INC - CDI 0.23 0.24 4% $97.5m
PNV POLYNOVO LTD 0.59 0.6125 4% $406.5m
VLS VITA LIFE SCIENCES LTD 0.955 0.99 4% $52.1m
PYC PHYLOGICA LTD 0.029 0.03 3% $68.4m
OVN OVENTUS MEDICAL LTD 0.295 0.305 3% $32.3m
KZA KAZIA THERAPEUTICS LTD 0.385 0.395 3% $26.1m
NEU NEUREN PHARMACEUTICALS LTD 1.355 1.39 3% $144.4m
MDC MEDLAB CLINICAL LTD 0.395 0.405 3% $83.2m
PSQ PACIFIC SMILES GROUP LTD 1.33 1.36 2% $206.7m
PXS PHARMAXIS LTD 0.26 0.265 2% $106.4m
KKT KONEKT LTD 0.28 0.285 2% $30.0m
ZLD ZELDA THERAPEUTICS LTD 0.059 0.06 2% $42.3m
RSH RESPIRI LTD 0.083 0.084 1% $44.6m
PBP PROBIOTEC LTD 1.49 1.5 1% $96.0m
ALT ANALYTICA LTD 0.005 0.005 0% $16.7m
IVQ IVITROQUE 0.08 0.08 0% $42.6m
FFC FARMAFORCE LTD 0.12 0.12 0% $15.3m
LCT LIVING CELL TECHNOLOGIES LTD 0.048 0.048 0% $28.5m
MDR MEDADVISOR LTD 0.037 0.037 0% $49.3m
OBJ OBJ LTD 0.019 0.019 0% $34.3m
DVL DORSAVI LTD 0.0655 0.065 -1% $13.3m
BD1 BARD1 LIFE SCIENCES LTD 0.0235 0.023 -2% $22.9m
ONT 1300 SMILES LTD 6.39 6.25 -2% $148.0m
PAA PHARMAUST LTD 0.041 0.04 -2% $8.4m
RCE RECCE PHARMACEUTICALS LTD 0.17 0.165 -3% $13.4m
ALC ALCIDION GROUP LTD 0.046 0.044 -4% $36.25m
SCU STEMCELL UNITED LTD 0.023 0.022 -4% $11.3m
TDL TBG DIAGNOSTICS LTD 0.046 0.044 -4% $9.6m
IMU IMUGENE LTD 0.021 0.02 -5% $72.2m
LSH LIFESPOT HEALTH LTD 0.083 0.079 -5% $5.8m
GLH GLOBAL HEALTH LTD 0.18 0.17 -6% $5.7m
AHX APIAM ANIMAL HEALTH LTD 0.51 0.48 -6% $50.5m
HLA HEALTHIA LTD 1.15 1.08 -6% $68.1m
BOT BOTANIX PHARMACEUTICALS LTD 0.084 0.078 -7% $58.3m
S66 STAR COMBO PHARMA LTD 0.6 0.555 -7% $44.2m
OSL ONCOSIL MEDICAL LTD 0.195 0.18 -8% $113.5m
ICS ICSGLOBAL LTD 1 0.92 -8% $9.7m
AXP AIRXPANDERS INC-CDI 0.035 0.032 -9% $17.9m
JHC JAPARA HEALTHCARE LTD 1.265 1.155 -9% $309.9m
CMP COMPUMEDICS LTD 0.4 0.365 -9% $60.2m
ACR ACRUX LTD 0.22 0.2 -9% $33.3m
AMT ALLEGRA ORTHOPAEDICS LTD 0.22 0.2 -9% $19.11m
VTI VISIONEERING TECH-CDI 0.195 0.175 -10% $42.1m
THC THC GLOBAL GROUP LTD 0.535 0.48 -10% $61.7m
CAJ CAPITOL HEALTH LTD 0.29 0.26 -10% $204.4m
RNO RHINOMED LTD 0.235 0.21 -11% $31.2m
TLX TELIX PHARMACEUTICALS LTD 0.84 0.75 -11% $166.0m
UCM USCOM LTD 0.135 0.12 -11% $17.2m
UBI UNIVERSAL BIOSENSORS INC-CDI 0.25 0.22 -12% $38.9m
DXB DIMERIX LTD 0.099 0.087 -12% $13.8m
ITD ITL HEALTH GROUP LTD 0.16 0.14 -13% $12.0m
ANR ANATARA LIFESCIENCES LTD 0.48 0.42 -13% $21.2m
IMC IMMURON LTD 0.28 0.245 -13% $35.8m
TPE TPI ENTERPRISES LTD 1.44 1.25 -13% $101.4m
CP1 CANNPAL ANIMAL THERAPEUTICS 0.15 0.13 -13% $12.1m
CAN CANN GROUP LTD 2.68 2.31 -14% $311.5m
PBT PRANA BIOTECHNOLOGY LTD 0.043 0.037 -14% $20.5m
GMV G MEDICAL INNOVATION HOLDING 0.32 0.275 -14% $97.5m
AC8 AUSCANN GROUP HOLDINGS LTD 0.815 0.7 -14% $217.9m
ELX ELLEX MEDICAL LASERS LTD 0.69 0.59 -14% $86.2m
1AD ADALTA LTD 0.305 0.26 -15% $28.2m
RHY RHYTHM BIOSCIENCES LTD 0.16 0.135 -16% $13.6m
MEM MEMPHASYS LTD 0.037 0.031 -16% $11.3m
ANP ANTISENSE THERAPEUTICS LTD 0.043 0.036 -16% $13.4m
NOX NOXOPHARM LTD 0.55 0.46 -16% $56.2m
IHL IMPRESSION HEALTHCARE LTD 0.024 0.02 -17% $9.8m
IDT IDT AUSTRALIA LTD 0.175 0.145 -17% $34.4m
PAB PATRYS LTD 0.029 0.024 -17% $25.7m
LBT LBT INNOVATIONS LTD 0.098 0.081 -17% $17.1m
NVL NATIONAL VETERINARY CARE LTD 2.18 1.8 -17% $121.3m
MXC MGC PHARMACEUTICALS LTD 0.051 0.042 -18% $48.5m
VHT VOLPARA HEALTH TECHNOLOGIES 1.5 1.23 -18% $222.4m
MMJ MMJ GROUP HOLDINGS LTD 0.33 0.27 -18% $59.8m
CGS COGSTATE LTD 0.74 0.6 -19% $71.5m
MVP MEDICAL DEVELOPMENTS INTERNA 4.8 3.89 -19% $261.6m
PCK PAINCHEK LTD 0.047 0.038 -19% $27.6m
GTG GENETIC TECHNOLOGIES LTD 0.01 0.008 -20% $21.2m
RGS REGENEUS LTD 0.2 0.16 -20% $33.4m
CDY CELLMID LTD 0.35 0.275 -21% $23.1m
HCT HOLISTA COLLTECH LTD 0.07 0.055 -21% $12.9m
SUD SUDA PHARMACEUTICALS LTD 0.007 0.0055 -21% $12.9m
PTX PRESCIENT THERAPEUTICS LTD 0.088 0.069 -22% $14.6m
NSB NEUROSCIENTIFIC BIOPHARMACEU 0.185 0.145 -22% $10.7m
VBS VECTUS BIOSYSTEMS LTD 0.6 0.47 -22% $11.0m
PGC PARAGON CARE LTD 0.76 0.595 -22% $198.9m
BNO BIONOMICS LTD 0.155 0.12 -23% $68.1m
BXN BIOXYNE LTD 0.035 0.027 -23% $17.3m
M7T MACH7 TECHNOLOGIES LTD 0.26 0.2 -23% $29.5m
OSP OSPREY MEDICAL INC-CDI 0.15 0.115 -23% $49.6m
1ST 1ST GROUP LTD 0.033 0.025 -24% $6.5m
BPH BPH ENERGY LTD 0.002 0.0015 -25% $3.7m
IVX INVION LTD 0.024 0.018 -25% $98.2m
AGH ALTHEA GROUP HOLDINGS LTD 0.38 0.28 -26% $56.9m
SVA SIMAVITA LTD-CDI 0.026 0.019 -27% $7.9m
NTI NEUROTECH INTERNATIONAL LTD 0.065 0.047 -28% $5.2m
OIL OPTISCAN IMAGING LTD 0.061 0.044 -28% $19.04m
MGZ MEDIGARD LTD 0.028 0.02 -29% $2.7m
MX1 MICRO-X LTD 0.375 0.265 -29% $40.2m
SDX SIENNA CANCER DIAGNOSTICS LT 0.085 0.06 -29% $16.0m
IMM IMMUTEP LTD 0.044 0.031 -30% $108.3m
ACL ALCHEMIA LTD 0.012 0.008 -33% $2.6m
IBX IMAGION BIOSYSTEMS LTD 0.048 0.032 -33% $10.3m
BLT BENITEC BIOPHARMA LTD 0.16 0.105 -34% $25.7m
RAC RACE ONCOLOGY LTD 0.145 0.095 -34% $7.5m
CTE CRYOSITE LTD 0.069 0.045 -35% $2.1m
AZV AZURE HEALTHCARE LTD 0.089 0.057 -36% $13.2m
OCC ORTHOCELL LTD 0.225 0.14 -38% $16.9m
ONE ONEVIEW HEALTHCARE PLC-CDI 0.92 0.515 -44% $34.7m
IPD IMPEDIMED LTD 0.365 0.2 -45% $75.8m
ADR ADHERIUM LTD 0.065 0.035 -46% $7.8m
BWX BWX LTD 2.9 1.515 -48% $195.1m
MEB MEDIBIO LTD 0.0365 0.019 -48% $3.8m
ESE ESENSE-LAB LTD-CDI 0.054 0.028 -48% $4.9m
SIL SMILES INCLUSIVE LTD 0.545 0.28 -49% $16.2m
ATX AMPLIA THERAPEUTICS LTD 0.265 0.135 -49% $5.5m
SKN SKIN ELEMENTS LTD 0.05 0.025 -50% $3.6m
FTT FACTOR THERAPEUTICS LTD 0.073 0.002 -97% $1.7m
NTI NEUROTECH INT 0.064 7.0M
SIL SMILES INCLUSIVE 0.545 32.4M
RAP RESAPP HEALTH 0.105 72.8M
AXP AIRXPANDERS-CDI 0.04 22.3M