It’s fair to assume PainChek (ASX:PCK) shareholders are a happy bunch with a 12-month share price rise of 413 per cent.

The rise of the pain-detection app company began in late April thanks to a $5m investment from the Morrison government. The surge continued for several months as the company’s roll out and revenue generation accelerated.

This morning the company listed off its achievements in 2019:

  • Contracted aged care facilities are up 1,308 per cent (from 26 to 366);
  • The number of contracted beds is up 1,662 per cent (from 1,789 to 31,523);
  • Annualised contracted recurring revenue is up 993 per cent (from $140,000 to $1.5m); and
  • Over 72,000 assessments have been conducted – up 538 per cent (from 11,280 to over 72,000).

But PainChek told shareholders it was just scratching the surface. It had only reached 14 per cent of the total Australian aged care market.

It is also seeking to enter the hospital market, telling shareholders it was a broad opportunity with potential for a similar impact.

To that effect, it has spent the last quarter as part of a Philips Healthcare collaboration program with early stage companies. The company said the program was highly constructive and it was investigating next steps with Phillips.

PainChek has also been trialling a version of its app for infants with Murdoch Children’s Research Institute. It is extending collaboration into next year and anticipates a major study to be completed in the June quarter 2020.

Stockhead has contacted PainChek for comment.

Shares rose 5 per cent this morning and are up 413 per cent in 2019, although are off their all time highs.

 

Read More:
Dr Boreham’s Crucible: PainChek on a painless path to success; shares up over 1000pc

In other ASX health news today:

Prescient Therapeutics (ASX:PTX) reported strong efficacy results for its anti-breast cancer drug PTX-200. The results from 11 women showed an overall response rate of 91 per cent, with a couple of patients being completely eradicated of cancer. CEO Steven Yatomi-Clarke said the results were an important clinical milestone for the company.

Clinuvel Pharmaceuticals (ASX:CUV) submitted its anti-erythropoietic protoporphyria drug, SCENESSE for approval by Australian regulators. This comes after America’s regulators approved the drug back in October.

Erythropoietic protoporphyria (EPP) is a rare skin condition causing severe reactions to lights such as burns and ulcers. It occurs quickly — within minutes of sunlight exposure. There are no approved treatments for EPP in Australia and if approved SCENESSE would be available by prescription.

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