Check-up: Novita shareholders are enjoying a fast-paced ride
Health & Biotech
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Here’s our fortnightly wrap of the major small cap health stock winners and losers.
For the second fortnight in a row, Novita Healthcare (ASX:NHL) is the best-performing ASX small cap healthcare stock, up 72 per cent to 7.8c.
Novita was the biggest winner at the start of November, having seen its shares rise an incredible 500 per cent in a fortnight following news its TALi Detect program had been approved for reimbursement by the American Medical Association.
Its TALi Detect program is a tool used to help identify potential attention deficits in children, and the approval means that Novita will be able to deploy its the program before the end of the year.
The company says clinician payments for attention deficit screening services amounted to around $US36.04 ($52.66) — an amount that will be split between participants delivering the service and Novita.
And on Tuesday, Novita announced the National Disability Insurance Scheme (NDIS) had expanded its use of TALi Health products.
Participants in the NDIS can now access TALi products through two additional registration classes. The three registration classes provide expanded access by participants to products delivered by TALi Health.
Follow medtech Konekt (ASX:KKT) is also continuing its good run; in August it emerged as the top-performing small cap health stock following a $52m takeover offer from disability employment services giant Advanced Personnel Management (APM).
And APM has upped its offer by 31 per cent, sending Konekt shares up a further 29 per cent over the past fortnight to 65c.
Adherium (ASX:ADR) was the biggest faller, down 36 per cent to 3.5c after announcing a second round of secured debt note financing, this time for $1.1m, with new strategic investor Trudell Medical.
Here are all the ASX small cap health and biotech stocks and their performance in the past fortnight:
Swipe or scroll to reveal the full table. Click headings to sort