Check Up: Oneview leads healthcare sector after ‘investor awareness’ pact
Health & Biotech
Health & Biotech
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Here’s our fortnightly wrap of all the news driving ASX health stocks.
It’s been a mixed two weeks for small-cap health companies, with 58 companies gaining ground and 54 losing it. Another 16 were flat.
Oneview Health (ASX:ONE) has been by far the biggest gainer, soaring 182 per cent in the period from March 3 to March 17 after entering into an investor awareness agreement with StocksDigital, the publisher of nextinvestors.com, wise-owl.com and catalysthunter.com.
Oneview says it will pay 6.25 million in shares in lieu of a $375,000 payment to StocksDigital for research and coverage over the next 18 months, and has agreed to sell StocksDigital another $1 million in shares at 6c – what was then an 18.9 per cent discount.
Next Investors recommended Oneview on March 12 as its “Technology Pick of the Year for 2021”, emailing subscribers that this was “the most undervalued company we have seen in ages”.
Oneview shares haven taken off since then, rising 175 per cent from 8c to 22c, taking its market capitalisation from $32 million to $88 million.
The company is working on the upcoming global launch of its cloud-based tablet solution for hospitals to manage patients at their bedside.
Actinogen Medical (ASX:ACW) was the second-biggest gainer, advancing 47.8 per cent to 3.4c. An announcement on Monday that Actinogen had appointed Dr Steven Gourlay as chief executive has seemed to boost sentiment. He’s been consulting for the company since December.
Actinogen is working to develop its lead drug compound, Xanamen, as a therapy for Alzheimer’s disease, Fragile X syndrome, schizophrenia and diabetes. It works by blocking the production of intracellular cortisol, the “stress hormone”.
Bard1 Life Sciences (ASX:BD1) rounds out the top three with a 33.6 per cent gain on a string of positive news including an Australian patent and promising early work on its exosome research to detect pancreatic cancer.
EZZ shares have traded as high as $1.425 over the period but closed Wednesday at 80c – still up from its 50c IPO price.
Oneview, Actinogen, Bard1 and EZZ share chart