Check-up: What’s happening with the ASX small cap health stocks?
Health & Biotech
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Here’s our fortnightly wrap of all the news driving ASX small cap health stocks.
Clinician software tech stock 1st Group (ASX:1ST) is the sector’s biggest winner in the last fortnight, rising 85 per cent to 4.9c.
The company recently signed a pilot deal with $7.5 billion health insurers Medibank to power online bookings, got another vet clinic onto its pet vet booking platform and released a strategic roadmap.
Skin Elements (ASX:SKN) might have gone on a rollercoaster yesterday — fluctuating between highs of 6c and lows of 3.3c — but it is still a big winner in the last two weeks, up 50 per cent overall to 3.7c late on Wednesday.
It announced a big Chinese distribution deal yesterday, with Chinese distributor Henan Huatuo Health Management (HHHM), through which HHHM will order $20m of skincare products over the next three years starting June 30.
But by close of trade, its shares had fallen 23 per cent on Monday’s close of 4.3c, to finish at 3.3c.
That was due to some less exciting news also released to the ASX yesterday: it had to answer ASX price and accounting queries it received two weeks ago. Read Nick Sundich’s wrap of that here.
The winning times continue for Australia’s most successful pot stock Elixinol (ASX:EXL), which has risen 46 per cent to $4.79, an all-time high. Its shares are also up 165 per cent year-on-year.
Linda McLeod, its managing director, recently told Stockhead her sector has drawn plenty of female talent, outstripping rivals.
“I think it’s because cannabis in its applications, if you don’t look at the recreational market but you look more at the medical cannabis side, because of its nature being medical related and caring related, it’s not unusual for women to gravitate to this industry,” she said.
Fellow pot stock Cann Group (ASX:CAN) recently announced plans to build a greenhouse facility in Mildura, helping boost its share price by 38 per cent to $2.17.
It nixed its plans to build a mammoth cannabis greenhouse at Melbourne Airport and headed up the Calder Highway to build it in Mildura instead.
What’s behind the share price movement of Recce Pharmaceuticals (ASX:RCE), which has gained 17 per cent in the past two weeks to 18c?
One true believer is Recce director James Graham. Stockhead spoke to the 29-year-old, who is so confident in the stock he’s tipped in six figures of his own money.
It also was granted a patent in the US for its antibiotics.
At the other end of the spectrum, OncoSil Medical (ASX:OSL) has fallen 69 per cent to 4.5c after it was denied CE marking by the British Standards Institute (BSI).
It was hoping to have its pancreatic cancer-fighting device approved in Europe, but BSI said it hadn’t been provided sufficient data to rubber-stamp it.
Neurotech (ASX:NTI) lost 28 per cent, down to 1.8c, thanks to troubles with its former strategic adviser, Dr Adrian Attard Trevisan.
Not only did he falsely claim he had a PhD in neuroscience, according to a Times of Malta report, but he is also being sued by Dr Rudi Agius, an employee of one of Neurotech’s Maltese subsidiaries, for failing to acknowledge Dr Agius in a doctoral thesis.
Here’s a table showing price performance for the ASX’s small cap health stocks.
Swipe or scroll to reveal full table. Click headings to sort