Check Up: Only two biotech IPOs from 2021 have gained ground. Picture Getty
Health & Biotech
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.
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.
Here’s a list of biotech stocks that IPO’ed in 2021.
| Code | Company | Listing Price (cents) | Current Price (cents) | Move % |
|---|---|---|---|---|
| TRJ | Trajan | 170 | 194 | 14% |
| AGN | Argenica Theraprutics | 20 | 46 | 130% |
| LDX | Lumos Diagnostics | 125 | 5.4 | -96% |
| BDX | BCAL Diagnostics | 25 | 6.6 | -74% |
| TRP | Tissue Repair | 115 | 30 | -74% |
| RAD | Radiopharm | 60 | 16 | -73% |
| BIO | Biome Aust | 20 | 7.6 | -62% |
| CU6 | Clarity Pharmaceuticals | 140 | 60 | -57% |
| CHM | Chimeric Therapeutics | 20 | 9 | -55% |
| SHG | Singular Health | 20 | 9.7 | -52% |
| EBR | EBR Systems | 108 | 56 | -48% |
| AYA | Artrya Ltd | 135 | 73 | -46% |
| TRU | Truscreen | 6.5 | 4.3 | -34% |
| ILA | Island Pharmaceuticals | 20 | 16 | -20% |
| ACL | Au Clinical Labs | 400 | 348 | -13% |
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.
| 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 |
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.
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.
Health & Biotech
Health & Biotech
Health & Biotech
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