Check-up: Orthocell races ahead to lead the health and biotech pack
Health & Biotech
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A 359 per cent gain has Orthocell (ASX:OCC) streets ahead of the ASX’s small cap health and biotech pack in the last fortnight.
Since we last checked in, Orthocell has comfortably been the biggest gainer, thanks to early data from the company’s trial of its CelGro technology in patients with damaged nerves.
Patients reported regaining sensation and muscle function in affected limbs, with an 83 per cent improvement in muscle power.
OCC shares currently cost 51c and chief Paul Anderson declined to put a valuation on his company, saying the sky is the limit for the regenerative medicine biotech.
“With what we’ve been talking about for the last 18 months, the unique characteristics of our technology and the different types of markets, I think the market has gone, ‘Hello! this is correct, real stuff’,” he told Stockhead. “It is a reward for the hard work we have done articulating the story.”
LBT Innovations (ASX:LBT) is the next best, up 99 per cent to 16.5c thanks to its half-owned joint venture Clever Culture Systems receiving FDA clearance for an instrument that can process 200 culture plates an hour and see which are growing bacteria. It was the last hurdle in order to start selling in the US.
The launch of two new genetic tests that check a patient’s risk profile for colorectal and breast cancer gave Genetic Technologies (ASX:GTG) a good boost, up 36 per cent to nearly 1c in the past fortnight.
A planned pivot towards blockchain as part of that has yet to come to fruition, but recent announcements suggest the company is going all in on genetic testing.
And Race Oncology (ASX:RAC) shares have gained 22 per cent to 7.1c thanks to confirmation it would conduct a Phase II trial of its drug Bisantrene in patients with relapsed/refractory acute myelogenous leukemia in Israel. Bisantrene is an old chemotherapy drug that Race is repurposing.
Living Cell (ASX:LCT) hasn’t had much to celebrate, down 36 per cent to 2.9c after revealing a mixed bag of results around its Parkinson’s treatment, NTCELL.
Results from the middle group in its phase IIb study that showed people who had 40 capsules implanted in their brains showed no difference from the placebo.
Here is a table of health and biotech stocks and movement in the past two weeks: