• Biotech sector has had a tough time recently
  • But there are signs of things improving this year
  • A look at biotech movers on the ASX in the past fortnight

Biotech stocks entered a bear phase in the middle of 2021, and things haven’t improved much in 2022.

On the ASX, the Healthcare [XHJ] index is down 11% so far this year, which mirrors the move in the Nasdaq Biotech Index (NASDAQ:NBI).

Some analysts think it’s a part of a long term trend as we move into a higher rate cycle, but others think the sector will eventually rebound.

The reasons for the sluggish performance vary for each company, but one common denominator has been COVID-19.

A lot of development in the biotech space was slowed because of the pandemic, and this has had an impact on clinical trial registrations. There’s been a lot less clinical trial readouts over the past year, mostly caused by delays in the supply chain.

The pandemic has also made it tough for salespeople of pharma companies to meet with the doctors (their potential customers) face to face, affecting sales adversely.

Some analysts also point out there is a reduced interest in biotechnology stocks from investors in general as the pandemic wanes.

But slowly, patients are getting back to see their doctors, and hospitals are focused on clinical trials again this year.

A lot of fundies are adamant the case for investing in biotech is still a strong one, with many offering the view that biotech valuations are too low right now.

And in a sign the sector could be making a turnaround,  the Biden administration has this week proposed a US$2.1 billion boost in funding for the FDA in 2023. In total, the FDA’s funding could be US$8.39 billion in 2023, a 34% increase over the US$6.25 billion for 2022.

Source: Google 31 March 2022 at 11.30am AEDT

 

Best and worst performing ASX health stocks

To the ASX, here are the worst and best performing stocks this week.

Code Company Price %Week %Month %Year Market cap
1ST 1St Group Ltd 0.012 33% 33% -56% $6,095,691.89
NC6 Nanollose Limited 0.115 5% 10% 0% $16,377,500.48
EXL Elixinol Wellness 0.056 17% 27% -69% $17,078,340.83
AT1 Atomo Diagnostics 0.125 9% -7% -50% $49,042,840.44
MXC Mgc Pharmaceuticals 0.027 8% 4% -60% $70,679,239.23
PYC PYC Therapeutics 0.099 8% 1% -38% $302,187,979.79
CAN Cann Group Ltd 0.27 6% 10% -51% $90,772,116.50
PAB Patrys Limited 0.026 4% 0% -7% $51,418,743.93
ANP Antisense Therapeut. 0.13 0% -10% -35% $83,599,247.25
CPH Creso Pharma Ltd 0.075 27% 12% -65% $94,614,752.65
CGS Cogstate Ltd 2.38 14% 25% 155% $400,403,845.38
IDT IDT Australia Ltd 0.195 8% 8% -55% $45,765,141.73
ALC Alcidion Group Ltd 0.2 5% 0% -34% $247,273,465.34
IMM Immutep Ltd 0.39 -4% 13% -6% $329,171,129.70
CDX Cardiex Limited 0.395 -5% -15% -41% $42,332,174.50
DXB Dimerix Ltd 0.18 -10% 0% -32% $56,152,891.55
AHK Ark Mines Limited 0.305 9% 33% 797% $9,993,030.90
IBX Imagion Biosys Ltd 0.057 6% 0% -62% $62,788,237.90
AHC Austco Healthcare 0.135 4% 4% 47% $38,038,851.14
AC8 Auscann Grp Hlgs Ltd 0.066 2% -7% -53% $28,635,562.15
4DX 4Dmedical Limited 0.855 -1% 22% -52% $174,478,062.11
NEU Neuren Pharmaceut. 4.05 -3% 8% 191% $501,343,390.48
EZZ EZZ Life Science 0.42 -5% 2% -44% $5,231,600.00
LCT Living Cell Tech. 0.008 33% 60% -40% $7,198,546.06
BOT Botanix Pharma Ltd 0.08 13% 40% -20% $77,364,794.88
PNV Polynovo Limited 1.145 4% 15% -59% $747,707,489.72
MDC Medlab Clinical Ltd 0.092 -1% -23% -64% $31,137,986.06
GSS Genetic Signatures 1.18 -1% -2% -27% $167,459,170.32
PGC Paragon Care Limited 0.44 -2% 16% 96% $275,082,301.98
IIQ Inoviq Ltd 0.83 -7% -7% -77% $75,915,429.15
ZNO Zoono Group Ltd 0.28 30% 40% -53% $46,595,277.40
EYE Nova EYE Medical Ltd 0.25 25% -2% -25% $36,388,447.75
KZA Kazia Therapeutics 1.065 24% 5% -27% $140,619,627.59
ADO Anteotech Ltd 0.115 19% -38% -56% $228,507,605.90
AVE Avecho Biotech Ltd 0.014 17% 17% -36% $25,729,375.36
NTI Neurotech Intl 0.059 16% 31% -26% $41,164,248.43
VHT Volpara Health Tech 0.84 15% 15% -36% $211,625,468.04
ZLD Zelira Therapeutics 0.02 11% -9% -67% $33,502,039.28
IRX Inhalerx Limited 0.094 11% 22% -18% $15,835,893.96
SOM SomnoMed Limited 1.94 11% 10% -4% $160,553,071.10
PCK Painchek Ltd 0.042 11% 2% -49% $47,535,801.56
MVP Medical Developments 3.94 8% 16% -28% $280,843,424.58
PXS Pharmaxis Ltd 0.09 7% 2% 13% $49,403,084.67
AN1 Anagenics Limited 0.045 7% -8% -44% $9,945,958.64
GLH Global Health Ltd 0.3 7% -9% -38% $16,994,930.10
CBL Control Bionics 0.385 7% 7% -35% $19,377,398.81
MEM Memphasys Ltd 0.07 6% 17% 4% $55,452,483.59
AMT Allegra Orthopaedics 0.18 6% 9% -44% $18,802,656.54
MDR Medadvisor Limited 0.275 6% -15% -21% $103,983,508.48
ATH Alterity Therap Ltd 0.02 5% -5% -38% $48,137,491.56
ARX Aroa Biosurgery 0.75 5% -2% -39% $256,845,849.75
VTI Vision Tech Inc 0.71 4% 5% -56% $17,061,697.60
CYC Cyclopharm Limited 1.645 3% 13% -35% $153,134,709.72
OSL Oncosil Medical 0.038 3% 0% -58% $30,109,045.17
ALA Arovella Therapeutic 0.041 3% 0% -7% $27,463,244.27
NYR Nyrada Inc. 0.21 2% 17% -30% $32,761,827.00
PSQ Pacific Smiles Grp 2.21 2% -6% -11% $352,676,082.98
OVN Oventus Medical Ltd 0.046 2% -16% -77% $11,119,420.61
RCE Recce Pharmaceutical 0.95 2% -5% -2% $165,335,954.65
RSH Respiri Limited 0.057 2% 33% -64% $41,201,925.03
BNO Bionomics Limited 0.066 2% -3% -69% $89,321,149.10
CU6 Clarity Pharma 0.575 1% -9% 0% $102,671,577.95
PBP Probiotec Limited 2.13 0% -2% -3% $173,218,854.78
BXN Bioxyne Ltd 0.017 0% 0% 21% $10,882,471.77
ADR Adherium Ltd 0.011 0% -8% -31% $24,290,762.01
ONE Oneview Healthcare 0.21 0% -9% -34% $108,537,608.97
TRP Tissue Repair 0.37 0% -12% 0% $15,913,668.55
ATX Amplia Therapeutics 0.145 0% 0% -43% $28,108,830.15
CAJ Capitol Health 0.355 0% -4% 3% $369,987,216.76
SCU Stemcell United Ltd 0.014 0% 0% -48% $14,696,980.89
MEB Medibio Limited 0.0045 0% 50% -55% $10,786,455.55
ICS ICSGlobal Limited 0.575313 0% 0% 7% $6,054,604.94
FFC Farmaforce Ltd 0.035 0% 0% -65% $4,573,834.30
CTE Cryosite Limited 0.47 0% 4% 84% $22,940,494.61
MX1 Micro-X Limited 0.21 0% 27% -40% $96,667,051.11
OIL Optiscan Imaging 0.145 0% 7% -38% $89,781,912.29
ACW Actinogen Medical 0.1 0% 6% 156% $177,884,659.50
IMC Immuron Limited 0.115 0% 10% -43% $26,196,809.79
GTG Genetic Technologies 0.005 0% 25% -44% $46,169,825.72
EPN Epsilon Healthcare 0.048 0% -9% -77% $10,689,933.55
S66 Star Combo 0.205 0% -2% -27% $27,573,111.11
DVL Dorsavi Ltd 0.021 0% 0% -49% $7,431,506.99
BPH BPH Energy Ltd 0.037 0% 0% -65% $24,602,017.39
PAL Palla Pharma Ltd 0.295 0% 0% -41% $47,764,383.09
IMU Imugene Limited 0.26 0% 11% 126% $1,520,412,123.36
1AD Adalta Limited 0.076 0% 3% -55% $23,878,040.70
SHG Singular Health 0.205 0% 5% -65% $13,384,259.15
BIT Biotron Limited 0.079 -1% 25% 18% $55,452,684.33
BWX BWX Limited 2.18 -1% -11% -55% $351,834,346.36
OSX Osteopore Limited 0.175 -1% -13% -63% $20,521,941.65
OSP Osprey Med Inc 0.32 -2% -10% -81% $8,210,733.44
NSB Neuroscientific 0.285 -2% -3% -3% $40,889,418.26
PAA Pharmaust Limited 0.094 -2% -6% -6% $29,789,764.00
ACR Acrux Limited 0.088 -2% -12% -43% $25,030,016.09
SDI SDI Limited 0.88 -2% 5% 6% $104,601,666.40
RAP Resapp Health Ltd 0.082 -2% 22% 19% $70,454,160.31
RNO Rhinomed Ltd 0.18 -3% -18% 50% $46,765,643.76
RAC Race Oncology Ltd 2.73 -3% -1% -29% $437,084,202.68
MVF Monash IVF Group Ltd 1.18 -3% 13% 57% $461,717,285.40
VLS Vita Life Sciences.. 2.25 -3% -5% 131% $118,468,377.00
PTX Prescient Ltd 0.155 -3% 0% 41% $100,764,446.78
CMP Compumedics Limited 0.3 -3% -12% -34% $53,148,884.40
HGV Hygrovest Limited 0.06 -3% 13% -48% $13,797,239.10
CHM Chimeric Therapeutic 0.14 -3% -3% -49% $40,474,256.62
CYP Cynata Therapeutics 0.42 -3% 2% -31% $60,176,169.48
LBT LBT Innovations 0.082 -4% -2% -22% $26,231,926.61
RHT Resonance Health 0.13 -4% -7% -37% $59,910,757.53
UBI Universal Biosensors 0.83 -4% -9% 48% $147,730,458.32
PAR Paradigm Bio. 1.1 -4% -2% -56% $250,355,374.50
OCC Orthocell Limited 0.42 -5% 2% -18% $82,793,723.46
RHY Rhythm Biosciences 1.4 -5% 24% 20% $299,710,737.20
ICR Intelicare Holdings 0.08 -5% 10% -73% $6,910,421.12
RGS Regeneus Ltd 0.058 -5% -12% -52% $17,773,341.01
RAD Radiopharm 0.255 -6% -23% 0% $30,241,256.06
RAD Radiopharm 0.255 -6% -23% 0% $30,241,256.06
HCT Holista CollTech Ltd 0.033 -6% 0% -49% $9,086,519.87
IVX Invion Ltd 0.016 -6% 0% 78% $102,664,218.30
VBS Vectus Biosystems 1.3 -6% -5% 7% $45,951,530.30
TD1 Tali Digital Limited 0.011 -7% -41% -77% $11,788,608.23
TRU Truscreen 0.06 -8% -5% -35% $21,771,975.18
BDX Bcaldiagnostics 0.11 -8% -8% 0% $14,472,926.82
HXL Hexima 0.32 -9% -16% 68% $51,116,400.32
ILA Island Pharma 0.21 -9% -16% 0% $9,081,728.88
TLX Telix Pharmaceutical 4.56 -9% -8% 4% $1,423,839,024.00
IPD Impedimed Limited 0.14 -10% -13% 12% $248,779,385.96
NOX Noxopharm Limited 0.345 -12% 8% -44% $100,822,092.75
JTL Jayex Technology Ltd 0.013 -13% -19% -76% $3,239,971.01
TSN The Sust Nutri Grp 0.12 -14% -27% -72% $14,472,766.20
ONT 1300 Smiles Limited 0 -100% -100% -100% $168,827,114.70
AGH Althea Group 0.18 -10% 6% -65% $59,950,300.05
IHL Incannex Healthcare 0.535 -24% -13% 161% $677,811,681.68
ALT Analytica Limited 0.001 -50% -50% -67% $6,920,701.69
OPT Opthea Limited 1.08 11% 11% -27% $390,652,600.80
PIQ Proteomics Int Lab 1.12 -2% -11% -5% $121,033,226.88
LDX Lumos Diagnostics 0.395 -6% -21% 0% $61,064,676.09
M7T Mach7 Tech Limited 0.735 -9% -2% -45% $178,767,036.00
NXS Next Science Limited 0.89 1% -1% -30% $189,311,120.10
DOC Doctor Care Anywhere 0.265 -9% -13% -72% $60,781,379.43

Living Cell Technologies (ASX: LCT) surged 14% on Wednesday after revealing it has advanced plans for a Phase 3 clinical trial of NTCELL in Parkinson’s disease.

The company has just signed a Research Agreement with the University of Technology Sydney (UTS), and the Australian Foundation for Diabetes Research (AFDR).

The UTS agreement will allow university facilities to be used to optimise the production of NTCELL in Australia for the first time.

The NTCELL clinical trial for people with early to mid-stage Parkinson’s disease is likely to be the first xenotransplantation trial carried out in Australia, after earlier trials in New Zealand.

Cannabis company Avecho (ASX:AVE) said CBD topical therapy could become a cornerstone therapy to treat hand osteoarthritis.

On Tuesday this week, the company announced positive results from the Phase IIa study of its CBD topical gel to treat pain associated with arthritis of the hand.

During four weeks of dosing, the study demonstrated significant daily improvements in hand pain, hand functionality, grip strength, finger stiffness and anxiety.

Current treatment options for hand osteoarthritis are limited to symptom relief and preservation of hand function.

Oral administration of CBD in animal models have shown promise, but topical therapeutics like AVE’s CBD gel are of particular interest in this disease due to their targeted application and avoidance of first-pass metabolism.

Smartphone-based pain assessment company, PainChek (ASX:PCK), announced that Summerset Holdings is rolling out PainChek’s solution across all its 24 NZ care centres after a successful six-month pilot.

The contract is PainChek’s first rollout in New Zealand.

Meanwhile, AnteoTech’s (ASX:ADO) CEO Derek Thomson gave notice of his resignation as CEO of the company this week, and will serve out his six months notice period. The board has now commenced the search for a suitably experienced CEO.

 

Share prices today: