The three best-performing health and biotech companies in the past fortnight have all seen their shares fly on the back of positive clinical trial results — and the top two are companies trying to recover from previously disappointing trials.

Both Actinogen (ASX:ACW) and Bionomics (ASX:BNO) were the subject of shareholder scorn in the past year, as each conducted phase II trials that failed to have the desired effect.

But shareholders who stuck fat with the beleaguered biotechs are smiling now — both have had extraordinary share price gains thanks to signs their drugs might work after all.

Actinogen is the biggest winner, up 333 per cent, after reporting that higher dosages of its Alzheimer’s drug Xanamem facilitated improved cognitive function in healthy elderly patients in a Phase I trial.

The company plummeted earlier this year when it revealed that an elongated phase II trial of 10mg of Xanamem in Alzhiemer’s patients failed; the latest data suggests 20mg may work.

Similarly, Bionomics (ASX:BNO), which is trying to treat PTSD with its drug BNC210, is up 208 per cent upon optimising the dosage for a redo of its failed phase II trial.

Around this time last year the company shed two-thirds of its value when the drug didn’t work. But a re-examination in February found that some patients in the original trial included people who didn’t take the drug as intended (with food). For those that did, it remained in the patients’ bloodstream and had a positive effect on PTSD symptoms.

There haven’t been any significant falls in the past two weeks, however Smiles Inclusive (ASX:SIL) is haemorrhaging value, down 94 per cent year-on-year.

Here are all the ASX small cap health and biotech stocks and their performance in the past fortnight:

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Code Name Price (3pm Thursday) % Return (2 Weeks) % Return (1 Year) Market cap
ACW ACTINOGEN MEDICAL LTD 0.039 333 -11 $ 57,080,796.00
BNO BIONOMICS LTD 0.11 208 -35 $ 65,362,304.00
ANP ANTISENSE THERAPEUTICS LTD 0.08 64 344 $ 32,347,968.00
MEM MEMPHASYS LTD 0.068 52 394 $ 43,419,504.00
PAR PARADIGM BIOPHARMACEUTICALS 2.91 44 222 $ 571,447,296.00
RCE RECCE PHARMACEUTICALS LTD 0.33 43 94 $ 35,352,872.00
OVN OVENTUS MEDICAL LTD 0.76 35 133 $ 101,160,528.00
VBS VECTUS BIOSYSTEMS LTD 0.77 35 -4 $ 17,301,198.00
BD1 BARD1 LIFE SCIENCES LTD 0.046 27 331 $ 64,257,696.00
BLT BENITEC BIOPHARMA LTD 0.056 27 -66 $ 17,842,678.00
RAP RESAPP HEALTH LTD 0.27 24 23 $ 172,323,232.00
EHH EAGLE HEALTH HOLDINGS LTD 0.18 23 -32 $ 59,869,072.00
SOM SOMNOMED LTD 2.5 21 39 $ 163,290,832.00
IDT IDT AUSTRALIA LTD 0.175 21 3 $ 41,466,800.00
ZLD ZELDA THERAPEUTICS LTD 0.083 20 19 $ 62,859,380.00
BIT BIOTRON LTD 0.078 20 -22 $ 50,045,004.00
ATH ALTERITY THERAPEUTICS LTD 0.033 18 -25 $ 28,670,384.00
GLH GLOBAL HEALTH LTD 0.17 17 -13 $ 5,725,360.50
ALC ALCIDION GROUP LTD 0.2675 17 537 $ 224,309,568.00
IMM IMMUTEP LTD 0.026 17 -52 $ 94,722,976.00
S66 STAR COMBO PHARMA LTD 0.53 15 -36 $ 45,864,400.00
IBX IMAGION BIOSYSTEMS LTD 0.044 15 -18 $ 15,050,367.00
RNO RHINOMED LTD 0.275 15 -7 $ 45,685,624.00
KZA KAZIA THERAPEUTICS LTD 0.525 15 30 $ 33,570,004.00
RAC RACE ONCOLOGY LTD 0.13 13 18 $ 13,095,656.00
VTI VISIONEERING TECH-CDI 0.075 13 -55 $ 27,939,460.00
DXB DIMERIX LTD 0.105 13 0 $ 16,673,941.00
ATX AMPLIA THERAPEUTICS LTD 0.092 13 -70 $ 4,785,352.50
AVH AVITA MEDICAL LTD 0.565 13 391 $ 1,095,637,632.00
BWX BWX LTD 4.055 12 11 $ 495,757,056.00
CGS COGSTATE LTD 0.295 11 -48 $ 43,882,236.00
LCT LIVING CELL TECHNOLOGIES LTD 0.022 11 -29 $ 11,428,820.00
SVA SIMAVITA LTD-CDI 0.01 11 -67 $ 4,177,781.25
PBP PROBIOTEC LTD 1.885 10 28 $ 122,153,408.00
OIL OPTISCAN IMAGING LTD 0.044 10 -29 $ 20,687,868.00
CYP CYNATA THERAPEUTICS LTD 1.59 10 32 $ 160,422,688.00
ANR ANATARA LIFESCIENCES LTD 0.23 10 -51 $ 11,365,044.00
VLS VITA LIFE SCIENCES LTD 0.64 9 -16 $ 35,639,844.00
VHT VOLPARA HEALTH TECHNOLOGIES 1.635 9 84 $ 357,622,496.00
OSP OSPREY MEDICAL INC-CDI 0.049 9 -78 $ 21,158,072.00
ICS ICSGLOBAL LTD 1.25 9 15 $ 13,230,024.00
JHC JAPARA HEALTHCARE LTD 1.195 7 -5 $ 320,696,800.00
PAA PHARMAUST LTD 0.15 7 372 $ 42,207,180.00
NTI NEUROTECH INTERNATIONAL LTD 0.015 7 -87 $ 2,036,158.00
CDY CELLMID LTD 0.225 7 -39 $ 19,648,226.00
CAJ CAPITOL HEALTH LTD 0.235 7 -10 $ 176,731,872.00
SDI SDI LTD 0.83 7 45 $ 96,281,080.00
MVP MEDICAL DEVELOPMENTS INTERNA 4.96 6 11 $ 325,618,240.00
IPD IMPEDIMED LTD 0.175 6 -61 $ 91,306,248.00
PXS PHARMAXIS LTD 0.2025 5 -34 $ 76,961,080.00
PGC PARAGON CARE LTD 0.39 5 -45 $ 135,154,112.00
MX1 MICRO-X LTD 0.29 5 -19 $ 50,331,208.00
OCC ORTHOCELL LTD 0.405 5 56 $ 63,281,900.00
PCK PAINCHEK LTD 0.34 5 530 $ 313,997,280.00
NSB NEUROSCIENTIFIC BIOPHARMACEU 0.25 4 56 $ 19,957,750.00
NOX NOXOPHARM LTD 0.395 4 -38 $ 51,338,264.00
AZV AZURE HEALTHCARE LTD 0.081 4 -10 $ 18,849,738.00
MVF MONASH IVF GROUP LTD 1.0675 3 4 $ 248,754,112.00
JHL JAYEX HEALTHCARE LTD 0.031 3 35 $ 5,351,003.50
ONT 1300 SMILES LTD 6.25 3 1 $ 147,989,904.00
PNV POLYNOVO LTD 2.2 2 283 $ 1,467,615,488.00
MDR MEDADVISOR LTD 0.045 2 15 $ 64,548,972.00
ONE ONEVIEW HEALTHCARE PLC-CDI 0.28 2 -80 $ 48,408,216.00
1ST 1ST GROUP LTD 0.06 2 94 $ 22,389,326.00
OPT OPTHEA LTD 3.5 0 483 $ 896,037,632.00
CDX CARDIEX LTD 0.027 0 -29 $ 19,474,062.00
ALT ANALYTICA LTD 0.003 0 -50 $ 10,558,837.00
SUD SUDA PHARMACEUTICALS LTD 0.0035 0 -8 $ 12,447,301.00
BPH BPH ENERGY LTD 0.002 0 167 $ 5,980,555.50
SCU STEMCELL UNITED LTD 0.015 0 -38 $ 9,624,125.00
HCT HOLISTA COLLTECH LTD 0.063 0 -7 $ 14,744,462.00
ACR ACRUX LTD 0.185 0 -20 $ 30,011,888.00
SDX SIENNA CANCER DIAGNOSTICS LT 0.049 0 -42 $ 11,562,207.00
GTG GENETIC TECHNOLOGIES LTD 0.006 0 -40 $ 14,690,671.00
1AD ADALTA LTD 0.15 0 -42 $ 23,002,280.00
M7T MACH7 TECHNOLOGIES LTD 0.67 0 235 $ 97,697,864.00
ADO ANTEO DIAGNOSTICS LTD 0.013 0 5 $ 19,425,996.00
AMT ALLEGRA ORTHOPAEDICS LTD 0.11 0 -45 $ 10,951,496.00
IHL IMPRESSION HEALTHCARE LTD 0.086 0 378 $ 51,931,612.00
MXC MGC PHARMACEUTICALS LTD 0.039 0 -20 $ 54,668,440.00
FTT FACTOR THERAPEUTICS LTD 0.0035 0 -96 $ 3,128,507.00
OBJ OBJ LTD 0.016 0 -27 $ 28,951,402.00
PSQ PACIFIC SMILES GROUP LTD 1.565 0 10 $ 240,149,568.00
TLX TELIX PHARMACEUTICALS LTD 1.425 -1 74 $ 378,653,600.00
THC THC GLOBAL GROUP LTD 0.44 -1 -20 $ 60,009,056.00
NVL NATIONAL VETERINARY CARE LTD 2.33 -1 5 $ 160,803,280.00
HLA HEALTHIA LTD 0.875 -2 -28 $ 55,155,324.00
PTX PRESCIENT THERAPEUTICS LTD 0.061 -2 -19 $ 21,684,334.00
GSS GENETIC SIGNATURES LTD 1.08 -2 44 $ 112,384,192.00
KKT KONEKT LTD 0.265 -2 -11 $ 28,033,512.00
NEU NEUREN PHARMACEUTICALS LTD 1.985 -2 70 $ 206,340,032.00
MMJ MMJ GROUP HOLDINGS LTD 0.24 -2 -19 $ 54,174,956.00
CMP COMPUMEDICS LTD 0.615 -3 28 $ 103,640,328.00
UBI UNIVERSAL BIOSENSORS INC-CDI 0.19 -3 -21 $ 33,696,340.00
CPH CRESO PHARMA LTD 0.3825 -3 -32 $ 57,965,708.00
ELX ELLEX MEDICAL LASERS LTD 0.54 -4 -26 $ 77,544,616.00
UCM USCOM LTD 0.12 -4 -23 $ 17,092,354.00
PYC PHYLOGICA LTD 0.047 -4 52 $ 109,928,552.00
PAB PATRYS LTD 0.022 -4 -41 $ 23,596,988.00
IMU IMUGENE LTD 0.022 -4 5 $ 79,416,648.00
NXS NEXT SCIENCE LTD 3.05 -4 $ 543,030,592.00
IMC IMMURON LTD 0.19 -5 -40 $ 18,561,996.00
PAL PALLA PHARMA LTD 1 -5 -33 $ 81,085,592.00
SKN SKIN ELEMENTS LTD 0.019 -5 -63 $ 3,249,276.50
ESE ESENSE-LAB LTD-CDI 0.019 -5 -47 $ 3,611,461.25
LSH LIFESPOT HEALTH LTD 0.055 -5 -32 $ 4,266,277.50
BOT BOTANIX PHARMACEUTICALS LTD 0.2375 -6 153 $ 226,658,528.00
CYC CYCLOPHARM LTD 1.2 -6 14 $ 82,678,648.00
TDL TBG DIAGNOSTICS LTD 0.03 -6 -48 $ 6,527,618.50
IVX INVION LTD 0.015 -7 -50 $ 77,008,488.00
PIQ PROTEOMICS INTERNATIONAL LAB 0.33 -7 32 $ 27,067,242.00
AGH ALTHEA GROUP HOLDINGS LTD 0.68 -8 19 $ 170,162,992.00
RHT RESONANCE HEALTH LTD 0.12 -8 380 $ 51,256,072.00
MEB MEDIBIO LTD 0.012 -8 -79 $ 11,941,560.00
AHX APIAM ANIMAL HEALTH LTD 0.48 -8 -22 $ 49,890,368.00
RHY RHYTHM BIOSCIENCES LTD 0.165 -8 10 $ 16,623,750.00
RSH RESPIRI LTD 0.084 -9 -11 $ 45,269,532.00
AC8 AUSCANN GROUP HOLDINGS LTD 0.34 -9 -65 $ 107,796,104.00
CAN CANN GROUP LTD 1.525 -10 -44 $ 219,087,568.00
MDC MEDLAB CLINICAL LTD 0.435 -10 -8 $ 92,606,808.00
CP1 CANNPAL ANIMAL THERAPEUTICS 0.15 -12 -6 $ 13,968,750.00
LBT LBT INNOVATIONS LTD 0.11 -12 0 $ 25,887,376.00
CTE CRYOSITE LTD 0.044 -12 -31 $ 2,061,820.75
OSL ONCOSIL MEDICAL LTD 0.065 -13 -67 $ 40,996,072.00
RGS REGENEUS LTD 0.069 -14 -62 $ 18,518,712.00
FFC FARMAFORCE LTD 0.12 -14 20 $ 15,452,518.00
BXN BIOXYNE LTD 0.018 -14 -51 $ 11,522,617.00
NC6 NANOLLOSE LTD 0.064 -15 -42 $ 4,799,999.50
EXL ELIXINOL GLOBAL LTD 2.05 -16 4 $ 275,788,224.00
AVE AVECHO BIOTECHNOLOGY LTD 0.005 -17 -78 $ 7,887,287.00
ADR ADHERIUM LTD 0.03 -18 -61 $ 4,698,863.50
NHL NOVITA HEALTHCARE LTD 0.01 -23 -70 $ 6,493,052.00
SIL SMILES INCLUSIVE LTD 0.05 -27 -94 $ 3,064,650.50
DVL DORSAVI LTD 0.043 -28 -50 $ 8,772,722.00
GMV G MEDICAL INNOVATION HOLDING 0.081 -33 -79 $ 32,696,880.00