• We take a look at how the 15 biotech IPOs that listed in 2021 are faring now
  • Only two IPO stocks from 2021 have gained since listing
  • We also look at the best and worst performing ASX stocks over the past month

 

There were 191 ASX IPOs in calendar year 2021, and 15 of them were biotech stocks.

But the challenging environment in 2022 meant there have been only three biotech listings this year.

According to a recent report by Evaluate Vantage, the last quarter was the weakest for new biotech listings worldwide in more than five years.

The decline mirrored the underlying market challenges such as inflationary fears, geopolitical instability and interest rate rises.

For the long term investor however, this could present a good opportunity to pick up good biotech stocks at bargain prices.

Biotechs that focus on the discovery of new drugs have typically been one of the best ways for investors to score insane gains.

But buyer beware because in the world of breakthrough medicines, the FDA and clinical results play judge, jury, and executioner.

It’s exactly what we saw with three junior ASX biotechs this year.

 

Three biotechs on the ropes

Hexima’s (ASX:HXL) backers saw their investment go up in smoke as the share price melted by 95% this year.

In July, Hexima surprised the market with a discouraging Phase 2 trial readout of its pezadeftide (HXP124).

Hexima reported 114 Adverse Events from the trial and saw only modest evidence of HXP124’s effectiveness in the treatment of onychomycosis.

Lumos Diagnostics (ASX:LDX) has also plunged by more than 90% this year after revealing that its device submission for FebriDX has been rejected by the US FDA.

The FDA had apprently expressed concerns regarding the risk that false negative viral infection test results from FebriDX could lead to missed opportunities to treat patients, and contribute to the spread of SARS-CoV-2 infections.

Meanwhile, health digital platform 1st Group (ASX:1ST) was questioned by the ASX this week about its ability to remain solvent. The company responded by saying that it’s confident of being able to raise funds in the future.

 

How the IPO class of 2021 performed

Here’s a list of biotech stocks that IPO’ed in 2021.

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Of the 15 biotechs that listed last year, only two have surpassed their listing price.

Trajan Group (ASX:TRJ) has been on acquisition trail, acquiring four companies in FY22.

The analytical sciences company recently launched a Share Purchase Plan (SPP) to raise up to $5 million, which was used to fund the 100% acquisition of Kentucky-based Chromatography Research Supplies (CRS) for US$43.3 million.

Trajan says its order flow remained strong in the first quarter of FY23.

Argenica Therapeutics (ASX:AGN) meanwhile has been the best performer in the biotech IPO class of 2021.

The brain-focused company’s share price has more than doubled as it announced a number of encouraging findings from a peer-reviewed published study assessing the safety of its lead drug, ARG-007, aimed at stroke patients.

The ethics application to commence a Phase 1 healthy participant study of ARG-007 has been approved.

Up to 32 subjects are now being dosed across four-dose escalating cohorts to assess the safety, tolerability and pharmacokinetics of ascending doses of ARG-007 in healthy volunteers.
 

Best and worst performing ASX biotechs over the past month

CODE COMPANY PRICE 1 WEEK RETURN % 1 MONTH RETURN % 1 YEAR RETURN % MARKET CAP
ACW Actinogen Medical 0.125 34% 52% 14% $215,507,258
HXL Hexima 0.022 5% 52% -94% $3,514,253
MEB Medibio Limited 0.0015 0% 50% -81% $4,980,891
ONE Oneview Healthcare 0.155 29% 41% -64% $83,198,465
BXN Bioxyne Ltd 0.025 9% 39% -11% $16,003,635
GTG Genetic Technologies 0.004 14% 33% -47% $36,935,861
RAC Race Oncology Ltd 2.64 29% 33% -16% $419,456,139
CGS Cogstate Ltd 1.9 -12% 30% -19% $352,073,046
PNV Polynovo Limited 1.9225 14% 29% 3% $1,303,525,447
SOM SomnoMed Limited 1.63 -1% 24% -27% $134,897,683
BNO Bionomics Limited 0.06 2% 18% -60% $83,907,746
ZNO Zoono Group Ltd 0.145 12% 16% -69% $24,204,157
PAR Paradigm Bio. 1.39 -4% 16% -27% $388,661,071
NTI Neurotech Intl 0.105 0% 15% 114% $75,253,408
IMM Immutep Ltd 0.31 11% 15% -47% $276,913,178
DXB Dimerix Ltd 0.165 6% 14% -39% $49,735,418
MVP Medical Developments 1.825 14% 14% -63% $157,075,419
VHT Volpara Health Tech 0.6 -2% 13% -53% $151,229,945
TLX Telix Pharmaceutical 6.37 24% 13% 10% $2,013,284,054
ALA Arovella Therapeutic 0.03 0% 11% -39% $20,796,375
UBI Universal Biosensors 0.29 0% 8% -62% $61,434,886
NEU Neuren Pharmaceut. 7.55 9% 7% 304% $947,261,884
EZZ EZZ Life Science 0.32 5% 7% -37% $4,083,200
CYP Cynata Therapeutics 0.335 -7% 6% -46% $47,997,659
HGV Hygrovest Limited 0.07 0% 6% -4% $16,096,779
ADO Anteotech Ltd 0.055 8% 6% -78% $107,349,096
AT1 Atomo Diagnostics 0.062 -2% 5% -82% $35,395,241
OIL Optiscan Imaging 0.105 -5% 5% -55% $65,058,588
IMC Immuron Limited 0.087 7% 5% -32% $19,818,456
ACR Acrux Limited 0.071 29% 4% -38% $20,269,777
CAN Cann Group Ltd 0.275 2% 4% -13% $94,344,803
VBS Vectus Biosystems 0.775 3% 3% -61% $36,619,763
EYE Nova EYE Medical Ltd 0.255 16% 2% -38% $37,195,434
IRX Inhalerx Limited 0.059 -3% 2% -41% $11,048,750
BDX Bcaldiagnostics 0.066 0% 2% -61% $8,982,251
AN1 Anagenics Limited 0.038 15% 0% -39% $7,735,746
BPH BPH Energy Ltd 0.022 10% 0% -62% $19,466,450
LCT Living Cell Tech. 0.013 8% 0% 36% $16,709,728
ALC Alcidion Group Ltd 0.135 8% 0% -61% $164,848,977
IPD Impedimed Limited 0.07 6% 0% -60% $123,010,884
EXL Elixinol Wellness 0.033 3% 0% -63% $9,804,233
ALT Analytica Limited 0.001 0% 0% -60% $4,613,801
TSN The Sust Nutri Grp 0.14 0% 0% -50% $16,884,894
SCU Stemcell United Ltd 0.013167 0% 0% 0% $14,915,372
JTL Jayex Technology Ltd 0.007 0% 0% -70% $1,495,371
ICS ICSGlobal Limited 0.575313 0% 0% 0% $6,054,605
AC8 Auscann Grp Hlgs Ltd 0.04 0% 0% -55% $17,621,884
BWX BWX Limited 0.63 0% 0% -87% $125,992,126
OVN Oventus Medical Ltd 0.02 0% 0% -83% $4,834,531
OCC Orthocell Limited 0.395 -2% 0% -27% $77,895,213
ILA Island Pharma 0.155 -9% 0% -52% $6,703,181
ARX Aroa Biosurgery 0.78 2% -1% -32% $267,324,882
NSB Neuroscientific 0.091 1% -1% -77% $13,055,920
ANP Antisense Therapeut. 0.085 -8% -1% -70% $56,847,488
RCE Recce Pharmaceutical 0.77 18% -1% -15% $132,669,086
PAA Pharmaust Limited 0.075 -1% -1% -24% $23,768,429
CYC Cyclopharm Limited 1.4 -7% -1% -24% $130,275,356
BOT Botanix Pharma Ltd 0.066 12% -1% 2% $69,458,816
CMP Compumedics Limited 0.25 16% -2% -35% $43,404,922
1AD Adalta Limited 0.049 -2% -2% -41% $15,395,053
4DX 4Dmedical Limited 0.605 -10% -2% -55% $185,529,857
PIQ Proteomics Int Lab 0.975 -1% -3% 8% $110,873,284
PTX Prescient Ltd 0.175 -3% -3% -27% $129,526,478
PCK Painchek Ltd 0.031 -3% -3% -41% $39,540,364
AHC Austco Healthcare 0.115 0% -4% -23% $33,328,994
MVF Monash IVF Group Ltd 0.92 0% -4% -1% $358,464,053
TRU Truscreen 0.043 -9% -4% -32% $15,603,249
RSH Respiri Limited 0.04 7% -5% -42% $32,049,454
NXS Next Science Limited 0.775 1% -5% -40% $166,462,354
PBP Probiotec Limited 2.1 2% -5% -5% $170,779,153
AMT Allegra Orthopaedics 0.092 0% -5% -61% $9,610,247
PSQ Pacific Smiles Grp 1.38 -6% -5% -52% $220,223,074
VLS Vita Life Sciences.. 1.63 -1% -6% 3% $86,402,408
ATX Amplia Therapeutics 0.099 -1% -6% -50% $19,206,548
IBX Imagion Biosys Ltd 0.033 -3% -6% -55% $37,003,512
SDI SDI Limited 0.81 -1% -6% -21% $97,469,735
MDR Medadvisor Limited 0.145 0% -6% -54% $78,846,628
CDX Cardiex Limited 0.29 -3% -6% -59% $36,659,702
RHY Rhythm Biosciences 1.15 0% -7% -5% $249,232,551
ATH Alterity Therap Ltd 0.014 12% -7% -55% $31,413,439
DVL Dorsavi Ltd 0.014 0% -7% -21% $6,090,087
MXC Mgc Pharmaceuticals 0.014 -7% -7% -73% $37,058,415
CU6 Clarity Pharma 0.605 -1% -7% -46% $109,621,538
PYC PYC Therapeutics 0.066 -4% -7% -54% $209,941,123
CHM Chimeric Therapeutic 0.089 3% -7% -70% $27,904,671
CAJ Capitol Health 0.305 0% -8% -16% $318,603,852
OSL Oncosil Medical 0.047 -6% -8% 1% $49,562,113
LDX Lumos Diagnostics 0.056 10% -8% -94% $11,334,948
CPH Creso Pharma Ltd 0.033 0% -8% -71% $57,142,629
RHT Resonance Health 0.054 -4% -8% -55% $24,886,007
IDT IDT Australia Ltd 0.105 5% -9% -82% $25,307,289
AVE Avecho Biotech Ltd 0.01 0% -9% -44% $18,378,693
LBT LBT Innovations 0.077 -8% -9% -33% $24,729,864
OSX Osteopore Limited 0.23 5% -10% -15% $26,971,695
NC6 Nanollose Limited 0.064 7% -10% -23% $9,528,728
AGH Althea Group 0.082 -7% -10% -72% $26,918,334
1ST 1St Group Ltd 0.009 0% -10% -46% $11,593,564
TRP Tissue Repair 0.305 11% -10% 0% $14,268,008
NYR Nyrada Inc. 0.13 0% -10% -45% $20,281,131
GSS Genetic Signatures 0.8 -6% -11% -47% $114,708,797
HCT Holista CollTech Ltd 0.033 0% -11% -43% $9,200,402
CBL Control Bionics 0.155 -16% -11% -74% $7,801,290
SHG Singular Health 0.097 -2% -12% -52% $6,333,040
EPN Epsilon Healthcare 0.022 0% -12% -84% $6,824,506
CTE Cryosite Limited 0.655 -6% -12% 82% $31,970,264
BIT Biotron Limited 0.049 2% -13% -6% $34,394,703
ICR Intelicare Holdings 0.035 -10% -13% -64% $4,216,321
OPT Opthea Limited 0.995 1% -13% -22% $462,447,750
ZLD Zelira Therapeutics 1.25 1% -13% -82% $11,971,395
IIQ Inoviq Ltd 0.58 -1% -13% -45% $53,370,847
ADR Adherium Ltd 0.006 20% -14% -57% $15,371,099
PGC Paragon Care Limited 0.325 -10% -14% 7% $216,594,157
MDC Medlab Clinical Ltd 10.61 -5% -15% -54% $24,227,956
RNO Rhinomed Ltd 0.14 4% -15% -55% $40,000,757
PXS Pharmaxis Ltd 0.071 -9% -15% -41% $39,538,052
GLH Global Health Ltd 0.27 -10% -16% -22% $15,295,437
PAB Patrys Limited 0.02 5% -17% -54% $41,139,995
DOC Doctor Care Anywhere 0.07 4% -17% -90% $15,905,408
RGS Regeneus Ltd 0.039 -15% -17% -50% $11,951,040
NOX Noxopharm Limited 0.185 0% -18% -65% $54,064,021
VTI Vision Tech Inc 0.27 8% -18% -72% $6,642,403
MEM Memphasys Ltd 0.018 -3% -18% -69% $17,283,586
M7T Mach7 Tech Limited 0.535 -1% -18% -47% $127,939,391
IHL Incannex Healthcare 0.27 -5% -19% -25% $411,370,845
MX1 Micro-X Limited 0.135 4% -21% -56% $65,540,039
RAD Radiopharm 0.13 -18% -21% 0% $20,716,206
RAD Radiopharm 0.13 -18% -21% 0% $20,716,206
IMU Imugene Limited 0.17 3% -23% -62% $1,098,329,530
IVX Invion Ltd 0.01 -9% -23% -23% $70,621,013
KZA Kazia Therapeutics 0.165 -6% -23% -89% $25,689,175
AHK Ark Mines Limited 0.245 -2% -27% 621% $8,196,149
TD1 Tali Digital Limited 0.003 50% -40% -90% $3,697,892
S66 Star Combo 0.12 -33% -49% -62% $16,209,958
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Actinogen Medical (ASX:ACW)

Actinogen jumped 50% last week after announcing a positive readout from its Phase 2a clinical trial.

Results from the trial showed that lead asset Xanamem had a therapeutic effect in patients with Alzheimer’s Disease, indicated by an elevated level of their pTau biomarkers.

Elevated blood pTau is regarded as a promising new method to identify patients with the AD type of dementia likely to progress to more severe disease.

These latest results have validated Actinogen’s Xanamem program as the company prepares to use the CDR-SB rating (a widely used dementia scoring system) in the upcoming Phase 2b trial.

Genetic Technologies (ASX:GTG)

GTG’s share price rose after CEO Simon Morriss appeared on Bloomberg’s RedChip Money Report, discussing the company’s expanded portfolio of tests, global relationships and partnerships, revenue growth channels, and five consecutive quarters of growth.

Morriss also discussed the excellent progress that the team are making in the US B2B market.

Leveraging the company’s recently completed Budget Impact Model, GTG is targeting payers, insurers and employer groups demonstrating a clear improvement in health economics.

Race Oncolgy (ASX:RAC)

In its response to the ASX’s “Please Explain” on Tuesday, Race said the usual stuff about not being aware of “any information concerning it that has not been announced, which, if known by some in the market, could explain the recent trading in its securities”.

However, the company did suggest that it might have been because Merchant Funds’ Investment Manager, Andrew Chapman, presented Race as one of his “Favourite 3 picks” in an investor webinar presentation. Race is up 33.39% so far this month, another 5.43% today alone.