Check Up: Imagion and Invion both target breast cancer clinical trials
Health & Biotech
Health & Biotech
It’s been a mixed two weeks for small-cap health companies, with only 40 companies gaining ground, 72 losing it and 24 flatlining.
Here’s a table showing how ASX-listed healthcare stocks have been performing.
Imagion Biosystems (ASX:IBX) was the biggest winner up 27% off the back of its Q3 2021 report which noted that patient screening and overall HER2 patient numbers were below pre-pandemic levels.
The company was flagged with a speeding ticket after a change in the price from a low of $0.077 at close of trading on 8 November 2021 and a high of $0.102 on 9 November 2021 – and a significant increase in the volume of IBX securities traded on 9 November 2021.
Imagion said it didn’t know why, and that it had noted in its quarterly that multiple patients had been enrolled in the study and that four sites are now actively screening patients.
However, if patient accessibility continued to be slow, the target of completing enrolment into its MagSense HER2 breast cancer Phase I first-in-human study by the end of 2021 would be difficult.
Next up was Nanollose (ASX:NC6) up 26% on no news, followed by Invion (ASX:IVX) also up 20% after reporting pre-clinical studies had shown “complete regression of triple negative breast cancer (TNBC) in vivo (on mice)” following application of its INV043 treatment.
This also sets the stage for the company to progress INV043 towards clinical trials.
Then there was Memphasys (ASX:MEM), which jumped 25% off the back of completing verification and validation assessments for its Felix sperm separation device for early access markets with low regulatory requirements.
“We continue to believe that a maiden commercial sale can be made prior to the end of the calendar year,” Memphasys executive chairman Alison Coutts said.
Immuron (ASX:IMC) was flat despite the US Naval Medical Research Centre (NMRC) reporting that most of the inpatient clinical trial sites in the USA are coming off COVID-19 based restrictions.
The company is planning an IND submission to the US FDA for Q1 CY2022 to support two human Phase II clinical trials.
Cellmid (ASX:CDY) was also flat even after acquiring BLC Cosmetics Pty Ltd for $1 million – which it says is a profitable business with revenue around $7 million and growing.
The biggest loser was Living Cell Technologies (ASX:LCT) which dropped 22% despite receiving a NZ$394,239.87 New Zealand R&D tax credit which it says it will put towards its third clinical trial of NTCELL for Parkinson’s disease.
Next up was The Sustainable Nutrition Group (ASX:TSN), down 20% off the back of its September quarterly which detailed revenue of $820,413 – 47% higher than the previous quarter and 248% higher than Q1 FY21.
The company said this was a result of the first full quarter of sales from initial supply agreements with Woolworths, and Coles.
And also down 20% was Bioxyne (ASX:BXN) after coming out of a trading halt and announcing it would not be proceeding with a proposed acquisition.