S&P/ASX 200 Health Care closed flat in May
2024 brings challenges, but hopes are high for biotech stocks
We take a look at the ASX biotech winners for the month
The S&P/ASX 200 Health Care [XHJ] closed flattish for the month of May.
With half the year almost over, 2024 is so far shaping up to be a year of both challenges and exciting opportunities.
As investors and industry experts chart their course through this dynamic landscape, one thing is clear: science remains at the forefront of it all.
Stephanie Sirota, chief business officer of RTW Investments, shares her perspective on what lies ahead for biotech stocks.
For Sirota and her team, the journey in discovering biotech stocks with potential begins with a deep dive into the science behind each company.
First and foremost, Sirota says that she aims to seek out medical innovations with the potential to make a real difference, focusing on long-term value rather than short-lived gains.
“I would say that our favourite investment is where we identify an asset that we believe is going to have a meaningful transformational effect, not just a short-term momentum-driven step up,” said Sirota.
“We’re looking for stocks where we can get multiples of return, because we’re identifying value before the rest of the market has identified that.
“We really look for drugs that we think are going to be placing and disrupting that current standard of care or bringing a new standard of care,” she added.
But navigating the market isn’t without its hurdles.
Funding can be hard to come by, especially during market downturns.
“..When you have a market downturn, the competition for capital is fierce,” Sirota said.
Her strategy? Steering clear of crowded areas and backing ventures poised to disrupt the status quo.
Yet, amidst the challenges, there’s reason for optimism.
Mergers and acquisitions in the biotech space are on the rise, signalling a new era of collaboration between biotech firms and industry giants.
“…At some point, the large companies, whether it’s big pharma or large biotech, they have the ability to sell a drug and to properly commercialise it and to take those approved therapies and bring them to global markets.
“A biotech company, particularly a small or even a mid-sized biotech company, doesn’t always have the capability of doing it on its own,” Sirota noted.
Meanwhile, the IPO market has seen a flurry of activity this year, albeit with a cautious approach from investors.
Companies are treading carefully, opting to go public only when they’re confident in their ability to deliver results.
But perhaps the most exciting development of all is the wave of positive clinical data sweeping through the industry.
Breakthroughs in research are fuelling optimism, and with the US FDA adopting a more favourable stance towards innovation, the path to regulatory approval has never looked more promising.
“Hopefully, with a wave of positive clinical data from biotech companies, and then also a stable or hopefully a lower interest rate environment, all that capital is going to come crashing back,” Sirota said.
Here are the ASX Biotech Winners and Losers for May 2024
Code Name Price % Month Change Market Cap LTP LTR Pharma 0.605 133% $42,595,320 BDX Bcal Diagnostics 0.175 90% $44,151,575 CU6 Clarity Pharma 5.080 81% $1,579,950,104 CYP Cynata Therapeutics 0.335 60% $60,176,648 DXB Dimerix 0.495 48% $272,088,943 MDR Medadvisor 0.440 47% $242,144,446 VTI Vision Tech Inc 0.160 45% $8,805,835 COV Cleo Diagnostics 0.250 35% $18,525,000 TD1 Tali Digital 0.002 33% $6,590,311 BOT Botanix Pharma 0.290 32% $456,789,815 AGN Argenica 0.770 32% $94,569,664 SOM SomnoMed 0.280 30% $60,510,311 OIL Optiscan Imaging 0.115 29% $96,064,192 BMT Beamtree Holdings 0.230 28% $66,465,643 ILA Island Pharma 0.067 26% $7,673,948 CTE Cryosite 1.070 26% $52,226,232 SNT Syntara 0.020 25% $23,880,636 PGC Paragon Care 0.390 22% $260,468,590 TLX Telix Pharmaceutical 18.150 21% $5,259,157,375 NC6 Nanollose 0.024 20% $4,128,153 EZZ EZZ Life Science 1.065 20% $47,300,058 NOX Noxopharm 0.080 19% $23,379,036 PEB Pacific Edge 0.090 18% $73,014,421 ACR Acrux 0.081 17% $23,548,065 PER Percheron 0.081 17% $73,025,143 EBR EBR Systems 1.100 17% $338,899,284 EMD Emyria 0.059 16% $24,130,374 ARX Aroa Biosurgery 0.570 14% $196,198,465 EOF Ecofibre 0.068 13% $25,763,425 ATX Amplia Therapeutics 0.070 13% $19,012,646 NEU Neuren Pharmaceut. 21.640 13% $2,645,854,407 MSB Mesoblast 1.110 12% $1,267,380,367 AVH Avita Medical 2.990 11% $185,928,127 1AI Algorae Pharma 0.011 10% $18,561,342 PNV Polynovo 2.250 10% $1,518,512,052 MAP Microbalifesciences 0.200 10% $89,570,395 CDX Cardiex 0.058 9% $17,062,125 ONE Oneview Healthcare 0.320 8% $215,996,048 PYC PYC Therapeutics 0.105 8% $489,938,758 PME Pro Medicus 120.120 8% $12,538,295,582 ALC Alcidion Group 0.058 7% $77,863,447 CUV Clinuvel Pharmaceut. 15.900 6% $758,571,002 PBP Probiotec 3.030 6% $246,409,920 HLS Healius 1.270 5% $922,146,928 FPH Fisher & Paykel H. 27.200 5% $15,434,583,365 IDT IDT Australia 0.100 5% $35,147,947 SHG Singular Health 0.105 5% $20,538,321 IMM Immutep 0.450 5% $534,975,552 TRI Trivarx 0.027 4% $10,650,885 VLS Vita Life Sciences.. 2.250 4% $125,423,568 DOC Doctor Care Anywhere 0.065 3% $23,831,746 HMD Heramed 0.018 3% $7,078,497 CAJ Capitol Health 0.245 2% $261,181,637 NSB Neuroscientific 0.049 2% $7,085,639 PSQ Pacific Smiles Grp 1.900 2% $303,205,682 IBX Imagion Biosys 0.074 1% $2,383,198 CSL CSL 280.100 1% $134,498,899,535 REG Regis Healthcare 3.970 1% $1,180,056,882 AFP Aft Pharmaceuticals 2.800 0% $293,625,528 AMT Allegra Medical 0.029 0% $3,468,720 CAN Cann Group 0.062 0% $27,123,891 HGV Hygrovest 0.046 0% $9,674,288 IVX Invion 0.005 0% $32,122,661 MX1 Micro-X 0.092 0% $53,462,095 MEM Memphasys 0.009 0% $12,309,680 MDC Medlab Clinical 6.600 0% $15,071,113 EPN Epsilon Healthcare 0.024 0% $7,208,496 DVL Dorsavi 0.013 0% $7,756,601 CBL Control Bionics 0.043 0% $8,569,331 OSL Oncosil Medical 0.005 0% $16,660,548 LGP Little Green Pharma 0.130 0% $39,228,879 IXC Invex Ther 0.080 0% $6,012,308 AHI Advanced Health 0.092 0% $22,600,111 COH Cochlear 322.560 -1% $20,952,891,987 SIG Sigma Health 1.255 -1% $2,023,514,007 4DX 4Dmedical 0.590 -2% $230,919,902 EBO Ebos Group 31.140 -2% $6,307,255,876 IMR Imricor Med Sys 0.485 -2% $98,391,015 ANR Anatara Ls 0.047 -2% $8,983,755 OCA Oceania Healthc 0.525 -3% $381,872,675 UBI Universal Biosensors 0.145 -3% $43,219,778 PCK Painchek 0.029 -3% $47,439,046 NAN Nanosonics 2.810 -4% $824,102,834 IDX Integral Diagnostics 2.440 -4% $552,150,313 ALA Arovella Therapeutic 0.120 -4% $126,018,748 GLH Global Health 0.115 -4% $6,385,449 RMD ResMed Inc. 31.400 -4% $19,882,547,249 ANN Ansell 24.450 -4% $3,555,195,450 PAA Pharmaust 0.210 -5% $83,141,359 FRE Firebrickpharma 0.060 -5% $12,304,324 OCC Orthocell 0.365 -5% $76,404,289 BIT Biotron 0.054 -5% $48,722,877 CVB Curvebeam Ai 0.180 -5% $39,344,290 ACL Au Clinical Labs 2.290 -6% $452,108,194 FCG Freedomcaregrouphold 0.160 -6% $3,821,425 IMC Immuron 0.094 -6% $21,431,845 IRX Inhalerx 0.030 -6% $5,693,009 AT1 Atomo Diagnostics 0.030 -6% $19,176,069 IIQ Inoviq 0.465 -7% $42,788,696 PAR Paradigm Bio. 0.250 -7% $87,449,004 AHC Austco Healthcare 0.180 -7% $64,938,305 CMP Compumedics 0.240 -8% $42,519,108 TRP Tissue Repair 0.230 -8% $13,302,265 SPL Starpharma Holdings 0.115 -8% $47,384,671 SDI SDI 0.790 -9% $93,903,769 HXL Hexima 0.010 -9% $1,670,396 GTG Genetic Technologies 0.100 -9% $13,221,725 SHL Sonic Healthcare 24.330 -9% $11,529,695,352 IPD Impedimed 0.076 -10% $153,755,138 RGT Argent Biopharma 0.370 -10% $16,753,675 RHC Ramsay Health Care 47.110 -10% $10,768,592,196 M7T Mach7 Tech 0.655 -10% $158,012,886 MVP Medical Developments 0.425 -11% $36,679,718 RCE Recce Pharmaceutical 0.585 -11% $119,332,538 HIQ Hitiq 0.023 -12% $8,092,434 CGS Cogstate 1.240 -12% $211,765,732 EYE Nova EYE Medical 0.245 -13% $56,061,702 RSH Respiri 0.028 -13% $28,616,461 AHX Apiam Animal Health 0.350 -13% $63,503,690 SNZ Summerset Grp Hldgs 9.160 -13% $2,158,224,029 TRJ Trajan Group Holding 0.930 -13% $141,560,959 AVR Anteris Technologies 19.000 -13% $365,224,004 CTQ Careteq 0.013 -13% $3,062,115 RHY Rhythm Biosciences 0.071 -13% $17,650,369 PTX Prescient 0.045 -13% $36,239,391 EMV Emvision Medical 1.885 -14% $161,025,906 1AD Adalta 0.025 -14% $13,372,579 ECS ECS Botanics Holding 0.018 -14% $23,193,892 CSX Cleanspace Holdings 0.280 -15% $21,654,487 IME Imexhs 0.480 -16% $21,857,712 NXS Next Science 0.260 -16% $75,840,727 ATH Alterity Therap 0.005 -17% $26,225,577 ICR Intelicare Holdings 0.010 -17% $2,348,245 OPT Opthea 0.510 -18% $338,032,403 CYC Cyclopharm 1.435 -18% $155,373,587 AYA Artrya 0.265 -20% $20,856,558 BP8DD Bph Global 0.004 -20% $1,563,293 NTI Neurotech Intl 0.071 -21% $72,234,590 RHT Resonance Health 0.064 -22% $28,601,147 PAB Patrys 0.007 -22% $14,402,131 ACW Actinogen Medical 0.029 -23% $73,280,717 IMU Imugene 0.067 -23% $490,427,477 ADR Adherium 0.016 -24% $11,681,279 CMB Cambium Bio 0.006 -25% $4,596,554 AVE Avecho Biotech 0.003 -25% $9,507,891 LDX Lumos Diagnostics 0.037 -26% $17,808,355 RAD Radiopharm 0.032 -27% $14,731,746 MYX Mayne Pharma 5.040 -28% $427,072,926 VFX Visionflex Group 0.005 -29% $7,084,956 LBT LBT Innovations 0.014 -30% $18,773,382 UCM Uscom 0.021 -30% $5,136,340 ZLD Zelira Therapeutics 0.470 -31% $5,333,163 ZLD Zelira Therapeutics 0.470 -31% $5,333,163 VIT Vitura Health 0.081 -33% $46,645,777 NYR Nyrada Inc. 0.057 -39% $10,226,296 CHM Chimeric Therapeutic 0.018 -40% $15,415,319 VBS Vectus Biosystems 0.130 -48% $6,917,368 ME1 Melodiol Glb Health 0.002 -50% $1,646,275 ENL Enlitic Inc. 0.250 -58% $19,678,657 JTL Jayex Technology 0.001 -80% $281,279 OSX Osteopore 0.053 -85% $6,020,959
LTR Pharma rose in May on no specific news.
However the company’s shares have been rising after announcing in late March that all patients recruited for its pivotal bio-equivalence clinical study of SPONTAN nasal spray received their second and final dose, completing the recruitment and dosing stage of the clinical study.
SPONTAN is a unique nasal delivery technology that bypasses the digestive system and is designed to overcome the issues of oral tablets for ED (erectile dysfunction).
The spray works by having a significantly faster onset of action of just 10 minutes.
The study is a critical milestone in LTR’s path to commercialisation. Data collected from the study will used to support the pre-submission meetings with the FDA and prescriptions of SPONTAN via the early access scheme in Australia.
BCAL recently announced some exciting news regarding its commercialisation efforts.
The company is gearing up to launch its new tests, and to make sure everything goes smoothly, it has brought on board a new CEO, Shane Ryan.
Ryan’s appointment comes at a pivotal time as the company prepares to launch its new tests and accelerate its commercialisation efforts.
With his prior experience as the COO and a strong track record in biotechnology product commercialisation, gained from his tenure at GenesisCare, BCAL believes that Ryan is well-positioned to lead BCAL through this critical phase.
Clarity has signed a Supply Agreement with SpectronRx for Cu-64 production.
This adds a new Cu-64 manufacturer to Clarity’s network, addressing supply constraints and benefiting patients, especially in the US oncology market.
Cu-64’s longer half-life overcomes limitations of other isotopes, providing broader access to PET imaging for cancer diagnosis.
Cynata has published new data in a top medical journal about its treatment, CYP-001, for a serious condition called steroid-resistant acute graft versus host disease (SR-aGvHD).
Graft versus host disease (GvHD) is a dangerous complication that can happen after bone marrow transplants, where the transplanted immune cells attack the recipient’s body. SR-aGvHD is even more challenging because it doesn’t respond to standard steroid treatment.
The published study followed patients for two years after receiving CYP-001 treatment.
The results are promising: 60% of patients survived, with no serious side effects related to the treatment. This survival rate is much better than what’s been seen before in similar cases.
For comparison, other treatments like ruxolitinib only had survival rates of around 38% after 18 months.
This is significant progress in treating a condition that has historically had very poor outcomes.
Dimerix says Taiba has acquired the exclusive rights to register and commercialise DMX-200 for the treatment of focal segmental glomerulosclerosis (FSGS) kidney disease in the United Arab Emirates (UAE), Saudi Arabia, Oman, Kuwait, Qatar, Bahrain and Iraq.
Under the deal DXB will receive up to US$80.4m (~$120.5m) from Taiba in upfront and milestone payments on certain development and sales milestones being achieved.
The company will also receive tiered royalties starting at 30% on net sales.
Taiba also has a right to negotiate a licence to develop and commercialise DMX-200 in any additional indications in the licensed territories that DXB may achieve for DMX-200. The minimum term for the deal is 15 years, or until the last valid patent claim covering the product expires.
DXB retains all rights to commercialise DMX-200 in all other unlicensed territories, including the US and China.
At Stockhead we tell it like it is. While Dimerix and LTR Pharma are Stockhead advertisers, they did not sponsor this article.
The post ASX Health Winners in May: LTR Pharma leads, and why hopes are high for biotech stocks this year appeared first on Stockhead.
