The ASX Health Care index saw a 4% increase in June
Growth was driven by CSL and Cochlear
Best biotechs in June were Actinogen, Optiscan and EZZ Life Science, amongst others
The S&P/ASX 200 Health Care index [XHJ] saw a 4% increase in June, contributing to an overall 4% gain for the year.
This growth for the year was mainly driven by a 3% rise in vaccine provider CSL (ASX:CSL), the largest stock in the index, and a 10% increase in Cochlear (ASX:COH) an implantable hearing solutions company.
Cochlear had a big first half, reporting a robust 21% increase in interim NPAT (versus pcp) to $192 million. The growth was fuelled by a 20% rise in revenue, driven by high demand for cochlear implants and sound processor upgrades in the market.
Cochlear also reaffirmed its full year FY24 guidance for underlying NPAT in the range of $385 million to $400 million, which represents a growth of 26% to 31% compared with FY23.
Meanwhile, the main drag on the XHJ index has been the substantial decline in the second-largest stock within the index, Sonic Healthcare (ASX:SHL).
Sonic’s shares have dropped by -20% in 2024 following the the company’s decision to revise its previous earnings forecast downward.
In May, Sonic downgraded its forecast for EBITDA for FY 2024 to approximately $1.6 billion, based on revenues of about $8.9 billion. This contrasts sharply with the EBITDA guidance it gave in February of $1.7-1.8 billion.
Sonic provides medical diagnostics and laboratory services globally. The offering includes a wide range of laboratory and pathology testing services, as well as radiology and clinical services.
ASX Biotech winners and losers for June 2024
Code Name Price % Month Change Market Cap ACW Actinogen Medical 0.062 138 $166,349,057 OIL Optiscan Imaging 0.235 124 $196,305,089 COV Cleo Diagnostics 0.340 100 $27,744,000 EZZ EZZ Life Science 1.845 86 $81,942,354 CMP Compumedics Limited 0.335 43 $59,349,588 LTP Ltr Pharma Limited 0.780 36 $54,916,281 ONE Oneview Healthcare 0.400 33 $269,995,060 CAJ Capitol Health 0.315 31 $335,804,962 DXB Dimerix Ltd 0.510 31 $280,599,954 RAC Race Oncology Ltd 1.825 30 $310,804,258 HMD Heramed Limited 0.023 28 $14,564,746 ICR Intelicare Holdings 0.014 27 $3,287,543 BOT Botanix Pharma Ltd 0.345 25 $624,463,037 PME Pro Medicus Limited 143.260 25 $14,959,908,595 VTI Vision Tech Inc 0.135 23 $7,429,923 ALA Arovella Therapeutic 0.140 22 $147,077,873 HLS Healius 1.500 21 $1,089,149,915 CYC Cyclopharm Limited 1.690 21 $187,747,086 TLX Telix Pharmaceutical 18.650 21 $6,233,415,573 CU6 Clarity Pharma 5.420 20 $1,689,120,762 IDT IDT Australia Ltd 0.110 19 $38,662,742 CBL Control Bionics 0.052 18 $10,362,912 PER Percheron 0.085 18 $76,631,323 IIQ Inoviq Ltd 0.560 17 $59,090,473 IBX Imagion Biosys Ltd 0.085 16 $2,774,957 ACL Au Clinical Labs 2.510 16 $506,603,378 PNV Polynovo Limited 2.450 16 $1,691,070,240 MDR Medadvisor Limited 0.500 15 $275,271,956 ARX Aroa Biosurgery 0.598 15 $205,664,181 PAA Pharmaust Limited 0.195 15 $86,779,690 PYC PYC Therapeutics 0.120 14 $559,930,009 PGC Paragon Care Limited 0.440 14 $728,334,371 SNT Syntara Limited 0.024 14 $28,656,763 EMV Emvision Medical 2.160 13 $184,517,749 IMR Imricor Med Sys 0.530 13 $107,520,079 CTE Cryosite Limited 1.240 13 $60,523,858 IDX Integral Diagnostics 2.670 11 $624,678,532 REG Regis Healthcare Ltd 4.360 11 $1,312,512,247 VIT Vitura Health Ltd 0.086 10 $49,525,146 HXL Hexima 0.011 10 $1,837,436 FPH Fisher & Paykel H. 27.770 9 $16,217,116,158 GLH Global Health Ltd 0.120 9 $6,965,944 TRJ Trajan Group Holding 1.025 9 $156,021,487 SHL Sonic Healthcare 26.300 9 $12,634,624,490 RAD Radiopharm 0.038 9 $17,493,948 CDX Cardiex Limited 0.070 8 $20,592,220 DOC Doctor Care Anywhere 0.068 6 $24,931,673 ANN Ansell Limited 26.550 6 $3,874,812,775 ACR Acrux Limited 0.069 6 $20,059,463 AGN Argenica 0.783 6 $96,796,053 HIQ Hitiq Limited 0.021 5 $7,388,744 CSL CSL Limited 295.210 5 $142,661,038,128 COH Cochlear Limited 332.150 4 $21,753,885,576 NAN Nanosonics Limited 2.990 3 $905,963,566 RCE Recce Pharmaceutical 0.600 3 $122,392,346 UBI Universal Biosensors 0.150 3 $44,710,115 SDI SDI Limited 0.785 3 $93,309,441 ILA Island Pharma 0.077 3 $9,761,066 SIG Sigma Health Ltd 1.275 2 $2,080,629,322 TRP Tissue Repair 0.225 2 $13,604,590 IME Imexhs Limited 0.490 2 $22,313,081 AHX Apiam Animal Health 0.345 1 $62,596,494 AFP Aft Pharmaceuticals 2.850 1 $298,868,841 EBR EBR Systems 1.050 1 $323,519,052 CYP Cynata Therapeutics 0.295 0 $52,991,377 PSQ Pacific Smiles Grp 1.900 0 $303,205,682 GSS Genetic Signatures 0.720 0 $154,996,914 EPN Epsilon Healthcare 0.024 0 $7,208,496 HGV Hygrovest Limited 0.046 0 $9,674,288 1AD Adalta Limited 0.026 0 $15,486,212 AC8 Auscann Grp Hlgs Ltd 0.040 0 $17,621,884 MDC Medlab Clinical Ltd 6.600 0 $15,071,113 IVX Invion Ltd 0.004 0 $25,698,129 MVP Medical Developments 0.405 0 $34,953,614 ADR Adherium Ltd 0.018 0 $13,141,439 AMT Allegra Medical 0.029 0 $3,468,720 AHI Advanced Health 0.092 0 $22,600,111 CTQ Careteq Limited 0.013 0 $3,082,543 BP8 Bph Global Ltd 0.003 0 $1,189,924 JTL Jayex Technology Ltd 0.001 0 $281,279 CVB Curvebeam Ai Limited 0.160 0 $34,986,150 RHC Ramsay Health Care 47.460 -1 $10,904,147,336 PAR Paradigm Bio. 0.255 -2 $89,197,984 CUV Clinuvel Pharmaceut. 15.370 -2 $770,094,868 AVH Avita Medical 2.420 -3 $160,493,698 ATX Amplia Therapeutics 0.062 -3 $16,839,772 NYR Nyrada Inc. 0.059 -3 $10,750,313 VLS Vita Life Sciences.. 2.280 -3 $128,590,308 FRE Firebrickpharma 0.056 -3 $10,937,177 PEB Pacific Edge 0.083 -3 $67,335,522 M7T Mach7 Tech Limited 0.640 -4 $154,394,270 OCC Orthocell Limited 0.355 -4 $74,311,020 NTI Neurotech Intl 0.070 -4 $71,217,201 BMT Beamtree Holdings 0.230 -4 $66,465,643 IMC Immuron Limited 0.088 -4 $20,063,854 AVR Anteris Technologies 18.310 -5 $351,960,606 CHM Chimeric Therapeutic 0.020 -5 $17,254,448 OSX Osteopore Limited 0.058 -5 $6,645,061 AHC Austco Healthcare 0.180 -5 $64,938,305 ECS ECS Botanics Holding 0.017 -6 $21,905,343 SHG Singular Health 0.099 -6 $19,364,702 RHT Resonance Health 0.059 -6 $26,366,683 NSB Neuroscientific 0.040 -7 $5,784,195 RSH Respiri Limited 0.026 -7 $29,809,925 TRI Trivarx Ltd 0.025 -7 $10,241,236 OCA Oceania Healthc Ltd 0.500 -7 $363,688,262 NC6 Nanollose Limited 0.025 -7 $4,300,159 IPD Impedimed Limited 0.072 -8 $145,662,762 SNZ Summerset Grp Hldgs 8.630 -8 $2,033,348,622 MYX Mayne Pharma Ltd 4.710 -8 $400,699,896 RMD ResMed Inc. 29.100 -8 $18,478,157,493 NEU Neuren Pharmaceut. 21.270 -8 $2,718,639,429 SOM SomnoMed Limited 0.253 -8 $54,567,334 RHY Rhythm Biosciences 0.062 -9 $15,412,999 CGS Cogstate Ltd 1.120 -9 $191,272,274 1AI Algorae Pharma 0.010 -9 $16,873,947 FCG Freedomcaregrouphold 0.145 -9 $3,463,167 MX1 Micro-X Limited 0.083 -10 $48,273,112 EBO Ebos Group Ltd 29.910 -10 $5,779,885,358 PIQ Proteomics Int Lab 0.880 -10 $115,185,502 MVF Monash IVF Group Ltd 1.285 -10 $500,680,769 ANR Anatara Ls Ltd 0.042 -11 $8,028,037 BDX Bcaldiagnostics 0.125 -11 $39,286,839 NXS Next Science Limited 0.235 -11 $68,548,349 LBT LBT Innovations 0.015 -12 $23,309,795 EYE Nova EYE Medical Ltd 0.220 -12 $50,341,120 PAB Patrys Limited 0.007 -13 $14,402,131 MEM Memphasys Ltd 0.007 -13 $9,679,237 VFX Visionflex Group Ltd 0.004 -13 $5,667,965 4DX 4Dmedical Limited 0.520 -13 $213,405,226 AT1 Atomo Diagnostics 0.025 -14 $15,980,058 DVL Dorsavi Ltd 0.011 -15 $6,766,953 PCK Painchek Ltd 0.027 -16 $44,167,388 TRU Truscreen 0.016 -16 $8,841,458 ALC Alcidion Group Ltd 0.048 -16 $64,438,715 LDX Lumos Diagnostics 0.031 -16 $14,920,514 IRX Inhalerx Limited 0.025 -17 $4,744,174 IMU Imugene Limited 0.057 -17 $417,229,346 AGH Althea Group 0.023 -18 $9,322,646 MAP Microbalifesciences 0.160 -18 $71,656,316 PTX Prescient Ltd 0.038 -19 $30,602,152 CSX Cleanspace Holdings 0.250 -19 $19,339,936 ATH Alterity Therap Ltd 0.004 -20 $20,980,461 OSL Oncosil Medical 0.004 -20 $13,328,438 SPL Starpharma Holdings 0.095 -21 $39,143,859 NOX Noxopharm Limited 0.066 -21 $19,287,705 MSB Mesoblast Limited 0.990 -21 $1,130,366,273 LGP Little Green Pharma 0.095 -24 $28,667,258 RGT Argent Biopharma Ltd 0.300 -24 $13,584,061 TD1 Tali Digital Limited 0.002 -25 $4,942,733 AVE Avecho Biotech Ltd 0.003 -25 $9,507,891 AYA Artryalimited 0.220 -27 $17,314,878 IXC Invex Ther 0.060 -28 $4,509,231 CMB Cambium Bio Limited 0.005 -29 $3,830,461 UCM Uscom Limited 0.015 -29 $3,668,814 BIT Biotron Limited 0.038 -31 $34,286,469 EMD Emyria Limited 0.041 -32 $16,768,565 GTG Genetic Technologies 0.075 -32 $9,916,293 IMM Immutep Ltd 0.295 -32 $428,520,626 OPT Opthea Limited 0.350 -36 $382,013,370 VBS Vectus Biosystems 0.077 -41 $4,097,210 ZLD Zelira Therapeutics 0.280 -42 $3,177,203 ZLD Zelira Therapeutics 0.280 -42 $3,177,203 ENL Enlitic Inc. 0.140 -46 $11,020,048 CAN Cann Group Ltd 0.028 -55 $12,476,132 EOF Ecofibre Limited 0.030 -61 $11,366,217 ME1 Melodiol Glb Health 0.003 -95 $582,276
Actinogen Medical (ASX:ACW) +138%
Actinogen surged in late June after announcing positive results from its Phase 2a biomarker trial for its lead drug, Xanamem, in patients with mild Alzheimer’s disease.
The trial, published in the Journal of Alzheimer’s Disease, showed that patients with elevated blood pTau181 had faster disease progression compared to those with lower levels.
Among these patients, those treated with Xanamem showed promising effects in slowing clinical decline, particularly in measures of cognitive function.
These findings suggest potential efficacy of Xanamem in Alzheimer’s treatment.
“To our knowledge Xanamem is the first drug of this class to have such compelling data,” said Dr Dana Hilt, the company’s chief medical officer.
The previously published PET (positron emission tomography) study highlighted just how effective Xanamem is at reaching its target enzyme in the brain at safe and well tolerated doses of 5 and 10 mg/day.
“No other inhibitor of 11β-HSD1 has ever demonstrated robust central nervous system (CNS) target engagement in this direct way,” he added.
Optiscan Imaging (ASX:OIL) +124%
Optiscan soared in early June after introducing a groundbreaking medical imaging device called InVue, aimed at revolutionising surgery by providing surgeons with immediate access to digital pathology during operations.
This technology allows surgeons to make instant decisions and adjustments, improving precision in surgeries.
Traditionally, pathology testing has been done in separate labs and involves time-consuming processes with delayed results. InVue changes this by offering real-time pathology insights directly in the operating room.
Developed in Melbourne in collaboration with Design + Industry, the device is designed for ease of use in clinical settings, particularly in cancer diagnosis and treatment.
InVue enables surgeons to view microscopic images and pathology details instantly, enhancing diagnostic accuracy and potentially reducing the need for multiple procedures and repeat surgeries.
Read more here: ‘Significant milestone’: Optiscan soars on new InVue imaging device for precision surgery
Cleo Diagnostics (ASX:COV) +100%
In late June, Cleo announced significant progress in advancing its regulatory strategy for its pre-surgical triage test designed to detect ovarian cancer.
Recently, Cleo conducted an initial pre-submission meeting with the US FDA.
During this meeting, Cleo presented its comprehensive submission framework and outlined its clinical plan for the ovarian cancer detection blood test.
The interaction with the FDA was highly constructive, Cleo said, with the regulator providing positive feedback on Cleo’s approach.
This feedback not only validates Cleo’s strategy but also enhances confidence in its clinical trial designs aligning with FDA expectations.
Cleo believes such early engagements are pivotal in shaping its pathway towards gaining regulatory approval in the US, particularly through the 510(k) application pathway aimed at achieving “substantial equivalence” to existing predicate devices.
Cleo has also successfully obtained Institutional Review Board (IRB) approvals in both the US and Australia, which are essential for ensuring compliance of clinical trials.
With these approvals in place, Cleo is now moving forward with formalising trial site contracts and preparing for patient recruitment.
EZZ Life Science (ASX:EZZ) +86%
Also in late June, EZZ announced a major milestone with an FDA approval for nine of its health supplement products in the US market.
This approval is significant as online sales of health supplements in the US totalled $23.8 billion in 2023.
The approved products, including children’s health essentials and supplements for brain focus and joint energy, will be launched initially in the US through EZZ’s new subsidiary, EZZ Life Science Holdings (USA) Inc.
Chairman Glenn Cross describes the FDA approval as a monumental achievement for EZZ, as the company plans to capitalise on this milestone to drive growth in the US market and bring high-quality products to American consumers.
EZZ’s strong growth trajectory includes recent agreements in Hong Kong and significant financial performance in Q3 FY24, with customer receipts up 111% year-on-year and a debt-free status with increased cash reserves.
Now read: EZZ US bound after FDA approval for nine products
At Stockhead we tell it like it is. While Optiscan Imaging and EZZ Life Science are Stockhead advertisers, they did not sponsor this article.
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