Check up: Rhinomed (ASX:RNO) soars with NSW COVID contract, and genetic testing fails to impress
Health & Biotech
Health & Biotech
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It’s been a mixed two weeks for small-cap health companies, with only 45 companies gaining ground, 76 losing it and 23 flatlining.
Rhinomed (ASX:RNO) was the biggest gainer, up a massive 85% for the fortnight after scoring a contract with NSW Health Pathology for one million SARS-CoV-2 Rhinoswabs as part of the department’s program to support testing capability.
The Rhinoswab technology aims to improve the sample collection process, and with extensive testing, was proven to be substantially more comfortable and easier to use than the standard nasal swab, while capturing a larger sample.
“The Rhinoswab can make a meaningful impact on the SARS-CoV-2 testing process and enable more people to be tested quickly and easily,” Rhinomed CEO Michael Johnson said.
“With approximately 2 billion SARS-CoV-2 tests having been carried out globally over the last 18 months, there is a major opportunity for Rhinoswab to radically improve the testing process, clinical outcomes and user experience.”
The next cab off the ranks was Respiri Limited (ASX:RSH) which rose a respectable 55% on nothing but a presentation detailing its commercialisation plans for its wheezo asthma management wheeze-detecting device and app.
And up 25% was Neuren Pharmaceuticals (ASX:NEU) after announcing it has completed Phase 3 enrolment for the study of trofinetide in Rett syndrome (neuro-development disorder), with results on track to be published in Q4 of 2021.
Nova EYE Medical (ASX:EYE) was up 21% on no news, and Telix Pharmaceutical (ASX:TLX) jumped 15% on the news that London-based Great Ormond Street Hospital has received a UK research ethics approval to commence a Phase II academic study of Telix’s investigational product, TLX66 (90Y-DTPA-besilesomab) for use in children with high-risk leukemia.
Here’s a table showing how ASX-listed healthcare stocks have been performing.
Flat this fortnight was Genetic Technologies (ASX:GTG) despite completing the acquisition of EasyDNA for US$4 million in cash and scrip on 13 August – which currently sells paternity, oncology and health & wellness genomics-based laboratory tests through agreements with 12 laboratories in North America, AsiaPac and Europe.
“The strong alignment of this brand and platform with GTG’s planned expansion into ‘health and wellness’ testing was critical to our decision to acquire the business of EasyDNA and will deliver solid revenue growth and expansion in the future,” GTG CEO Simon Morriss said.
And Aroa Biosurgery (ASX:ARX) joined the flat pack, even with the announcement that a new retrospective study of real-world data in the International Wound Journal showing significantly improved wound closure times for diabetic foot ulcers and much greater probability of wound closure in wounds treated with its Endoform Natural – compared to wounds treated with a traditional collagen dressing.
Micro-X Limited (ASX:MX1) was the biggest loser, down 18%, followed by Antisense Therapeutics (ASX:ANP) down 15% – both on no news.
Dropping 14% was Global Health (ASX:GLH) despite announcing a new non-executive, independent director in Karen Corry and a new chief financial officer in Ershad Ali.
Race Oncology (ASX:RAC) dropped 12% after announcing that the first patient was dosed in the Phase 1b/2 trial in relapsed/refractory acute myeloid leukaemia at the Chaim Sheba Medical Centre in Israel.
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