Check Up: Hexima roars 70pc on clinical trials, while Bionomics heads for a US dual listing
Health & Biotech
Health & Biotech
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The ASX 200 health stocks index is tracking the broader index well over the past two weeks. Both the XHJ Health Sector and the ASX 200 benchmark rose by 3% over this period.
A handful of ASX health stocks have seen their prices skyrocket during the past fortnight.
Onychomycosis (fungal infection in the nails) focused company Hexima (ASX:HXL) was one of the best performers over the fortnight, rocketing by almost 70%.
Investors have been buying HXL shares after it announced the completion of patients enrolment for its Phase IIb clinical trial evaluating pezadeftide (HXP124) as a potential new topical treatment for onychomycosis. The trial will be conducted at 15 sites in Australia and New Zealand, starting in Q2 of 2022.
Hexima is well-funded, having just raised $5.5m in an IPO and floated its shares on the ASX in December.
Bionomics (ASX:BNO) rose 33% this week, after announcing a plan to list American Depositary Receipts (ADRs) on the Nasdaq through an IPO.
The company is currently trying to develop a pipeline of drug candidates for patients affected by central nervous system (CNS) disorders. Bionomics believes that a listing in the US would provide it with the necessary access to capital to progress these studies.
Atomo Diagnostics (ASX:AT1) rose by 30% in the past two weeks after reporting a full year revenue of $6.7m, up 25% on previous corresponding period (pcp).
The company is about to launch the CareStart COVID-19 IgM/IgG antibody test, which is integrated with the Atomo Galileo device, in the US. This was made possible following an Emergency Use Authorisation (EUA) received from the FDA during the quarter.
Here’s a table showing how ASX-listed healthcare stocks have been performing.
PAB shares dropped 15% this week after announcing delays in procuring certain key components required for its PAT-DX1 clinical trial program. Patrys’ commercial contract manufacturer said the delays are entirely due to the impact of the COVID-19 pandemic on the production and supply chains, and are outside if its control.
The anticipated delay means the start of the GMP toxicology studies for PAT-DX1 has been rescheduled to Q1 CY 22.
BD1 shares fell 24% over the past two weeks since announcing a $15m capital raising to accelerate its cancer diagnostic program.The company is collaborating with researchers at the University of Queensland (UQ) who are using the EXO-NET® product to develop a novel test for ovarian cancer based on exosomes isolated from the blood of cancer patients.
The company obtaining the exclusive licence to a novel CAR-T for solid tumours from the University of Pennsylvania, which will bring its novel CDH17 CAR-T cell therapy to more patients. The novel therapy targets gastrointestinal tumors including colorectal cancer, pancreatic cancer and gastric cancer.
The respiratory device specialist said it will ramp up commercialisation activities following the rapidly growing vaccination uptake in the US. This, 4DX says, will allow for greater access to key decision makers at hospitals and medical institutions, where it plans to commence several clinical trials for its XV Lung Ventilation Analysis Software (XV LVAS).
The company said that Angel Medical Systems had completed its first commercial implantation in the US of the company’s Guardian device – a cardiac detection monitor and patient warning system.
The implant marks the first use of the Guardian following its recent FDA approval, and cardiac electrophysiologist and cardiologist Dr Andrew Kaplan – who performed the procedure – said it marks a “pivotal advancement in cardiac care”.