Check-up: Lasers and fatty livers won in biotech this month
Health & Biotech
Link copied to
Here’s our monthly wrap of all the news driving ASX health stocks.
Of the ASX’s 137-odd small cap health stocks, 92 saw their share prices fall, 32 improved and 13 were flat.
>> Scroll down for a table showing the performance of small cap health stocks over the past month
Chinese-money-backed Invion (ASX:IVX) said its light therapy treatment was working in mice.
A pre-clinical study in mice by Hudson Institute of Medical Research found the treatment caused the death of tumour tissue but not surrounding healthy tissue, and was accompanied by an influx of immune cells, indicating an anti-tumour immune response.
The treatment is a photosynthesising compound called PhotoSoft, which is activated by specific waves of light delivered from, yes, a laser.
Genetic Technologies (ASX:GTG) shot up from a very low base when it said a factory making its breast and colon cancer risk tests was commissioned and it hoped to start sales in the new year.
Long-suffering shareholders who bought into the previous breast cancer risk test, the blockchain story that followed, or the latest cancer news, were very pleased.
Not only did Resonance Health (ASX:RHT) say it successfully trained an AI to assess liver fat from MRI data, but it also got a three-year deal with German company Siemens Healthcare to distribute its Ferrismart product, an AI tool for use in liver iron quantification.
Medical bill collector ICS Global (ASX:ICS) upgraded its profit guidance again, this time to $1.4m-$1.7m.
That’s up from the $1.2m-$1.4m it guided in August for the 2020 financial year. It says it’s due to “continued success in gaining new clients and operational leverage”.
Is Smiles Inclusive (ASX:SIL) back? The start of the year was enough to turn all smiles upside down, as it slashed a forecast profit to a loss, talked its bankers around to overlooking loan breaches, dumped the CEO and chairman who promptly called for a board spill, and launched the investigation that culminated in a lawsuit against said CEO and chair.
This week it sold two practices to rival dental chain, 1300 Smiles, for a small profit and last week a statutory demand against the company from Future Care Mobile Dentistry was set aside by the Supreme Court of Queensland.