Since the ASX is flooded with quarterlies, we’ve summarised a list of the five health companies that got the biggest share-price boost in morning trade due to 4C releases.
Here we go:
Oncosil Medical (ASX: OSL)
As Oncosil is at the research and development phase it is not generating revenue – but spent $2.5 million. But what pleased investors was it had responded to questions the British Standards Institute (BSI) had for the company. The BSI previously refused to grant approval for its pancreatic cancer treatment and CEO Daniel Kenny admitted to Stockhead’s Tim Boreham it could have explained things better.
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The company also reminded shareholders it shared clinical data at the annual meeting of the American Society of Clinical Oncology (ASCO). Its study showed promising survival estimates.
After initially jumping to 7.2 cents it was at 6.9 cents at 11am – 9.5 per cent higher that yesterday. But Oncosil is still substantially lower than the start of this year when progress seemed more immanent – 63 per cent specifically.
Read More: Dr Boreham’s Crucible: A lump or two, but Oncosil sure it has something good brewing
Impression Healthcare (ASX: IHL)
Impression Healthcare declared it was now debt-free and pulled $340,000 in customer sales during the quarter. It also told shareholders it expected to begin recruiting patients for its clinical trials in August.
This will investigate the effects of its cannabidiol toothpaste in attacking gingivitis and periodontitis. It also announced it has received an import permit for its Dronabinol project to use in a sleep apnoea clinical trial.
The company jumped 5 per cent this morning and is up 388 per cent in 2019.
Avita Medical (ASX: AVH)
This anti-burns medicine company declared that 41 US burn centres had ordered its product RECELL and 136 of 300 burn surgeons have been trained and performed its procedure. And most importantly, it has a 100 per cent success rate for hospital purchasing approval.
It has sold over $2.8 million in the last quarter and $6.2 million in the first half of 2019. CEO Michael Perry declared the result “a tremendous success”. He also said the momentum would continue in the next year as it expanded into Japan.
The stock jumped 4.7 per cent at market open and is up 449 per cent this year.
PharmAust (ASX: PAA)
PharmAust declared the quarter to be one where it “progressed very successfully on several fronts”. It is in between Phase 1 and Phase 2 trials on its drug candidate in dogs. The former was successful in healthy dogs and the latter will test dogs with cancer.
PharmAust received ethics approval just a fortnight ago and scaled tablet manufacture is complete. It made unaudited full year revenue of $3.8 million and a net profit of $489,000 and paid off its debt liability.
It is up 5 per cent this morning and 134 per cent this year.
Benetic Biopharma (ASX: BLT)
At first glance, Benetic’s quarterly may not seem flash, with a net loss of $2.6 million in operating activities. But it has undergone a workforce reduction, has $22 million in cash and net cash from operating activities at nearly $5.9 million.
The company’s drug, BB-301 aims to treat oculopharyngeal muscular dystrophy and CEO Jerel Banks said the team would continue to work diligently on progressing it.
The drug remains at a pre-clinical stage and the company, keen to progress it, terminated a collaboration agreement it thought was going too slow. It is still looking for another partner. The stock climbed 8 per cent this morning but is still down 49 per cent this year.