ASX Health sector was in correction territory in April
Why is the health sector different from other sectors?
We look at the best performing ASX health stocks for the month
The S&P/ASX 200 Health Care [XHJ] had a soft month in April, finishing -1.54% lower. However, it still did better than the broader ASX200 index, which fell by almost -3%.
Source: Google
One of the things that often sets the Healthcare sector apart from the rest is the frequently wide gap between winning and losing stocks.
When some major technology stocks benefit, it seems to lift up the rest of the sector, but the environment is different for healthcare stocks.
“In the pharmaceutical space, all of the spoils tend to go to the winner and aren’t spread to the industry as a whole,” said Rob Haworth at the US Bank Wealth Management.
“While drug and medical technology advancements might appear to be beneficial in raising revenues and earnings for the entire industry, the difference between the winners and losers in these situations can be striking,” he said.
That said, there is one tailwind that will always keep the sector at the forefront of the stock market – and that’s the constant emphasis placed on controlling healthcare costs for the public.
“The ageing of our population indicates a strong demand for healthcare services, but there are constraints on what can be delivered,” says Hayworth.
On that basis alone, listed healthcare companies that address the demand and lower the cost (through technology or otherwise) for healthcare products and services offer intriguing investment potential.
“Advancements in life-changing drugs and medical devices can significantly enhance our quality of life. They also create potential to generate new revenue and profits for innovative companies that deliver those products,” said Hayworth.
Here are the ASX Biotech Winners for April 2024
Code Name Price % Month Change Market Cap MSB Mesoblast 1.013 82% $1,238,835,764 CMB Cambium Bio 0.008 60% $6,894,831 RCE Recce Pharmaceutical 0.660 50% $129,509,433 EZZ EZZ Life Science 0.865 49% $39,083,616 ACR Acrux 0.068 42% $17,733,728 IDT IDT Australia 0.095 23% $33,390,550 OSX Osteopore 0.370 23% $3,873,258 CTE Cryosite 0.850 23% $41,488,129 ANR Anatara Ls 0.048 23% $8,058,899 EYE Nova EYE Medical 0.280 22% $62,919,250 FRE Firebrickpharma 0.059 18% $10,399,791 TLX Telix Pharmaceutical 15.145 17% $5,125,286,185 RHT Resonance Health 0.082 17% $36,198,327 PYC PYC Therapeutics 0.096 17% $411,421,849 EBR EBR Systems 0.935 17% $294,226,196 PSQ Pacific Smiles Grp 1.870 17% $298,418,224 RSH Respiri 0.032 14% $37,095,412 IMM Immutep 0.433 14% $529,031,379 IDX Integral Diagnostics 2.525 12% $591,923,852 AYA Artrya 0.330 12% $24,398,238 OIL Optiscan Imaging 0.085 12% $71,003,968 DXB Dimerix 0.335 12% $186,864,813 AHX Apiam Animal Health 0.400 11% $73,482,841 ATH Alterity Therap 0.006 10% $31,470,692 ACW Actinogen Medical 0.035 9% $74,461,463 FPH Fisher & Paykel H. 25.820 9% $14,827,244,481 TRP Tissue Repair 0.240 9% $13,952,003 RMD ResMed Inc. 32.870 9% $20,226,509,777 COV Cleo Diagnostics 0.185 9% $13,708,500 CYP Cynata Therapeutics 0.205 8% $37,722,675 PME Pro Medicus 111.920 8% $11,659,038,075 1AD Adalta 0.029 7% $14,223,980 MDR Medadvisor 0.295 7% $162,295,983 ALC Alcidion Group 0.054 6% $73,836,027 NAN Nanosonics 2.905 6% $884,698,630 CUV Clinuvel Pharmaceut. 15.080 5% $767,589,680 PGC Paragon Care 0.325 5% $227,075,181 CSX Cleanspace Holdings 0.330 5% $25,521,359 GLH Global Health 0.120 4% $6,675,697 HIQ Hitiq 0.026 4% $9,147,969 SPL Starpharma Holdings 0.130 4% $55,625,484 CGS Cogstate 1.400 4% $239,129,963 ANN Ansell 25.450 4% $3,624,971,895 CHM Chimeric Therapeutic 0.031 3% $25,553,736 AHC Austco Healthcare 0.190 3% $56,615,159 CU6 Clarity Pharma 2.820 3% $795,595,136 NSB Neuroscientific 0.048 2% $7,519,453 M7T Mach7 Tech 0.730 2% $173,693,554 CAJ Capitol Health 0.245 2% $255,851,400 MVF Monash IVF Group 1.468 2% $570,815,041 IBX Imagion Biosys 0.074 1% $2,415,845 PEB Pacific Edge 0.076 1% $61,656,622 EBO Ebos Group 31.930 1% $6,187,291,074 SDI SDI 0.855 1% $105,790,322 VHT Volpara Health Tech 1.140 0% $289,986,711 AFP Aft Pharmaceuticals 2.770 0% $290,479,540 1AI Algorae Pharma 0.010 0% $18,560,868 AC8 Auscann Grp Hlgs 0.040 0% $17,621,884 AHI Advanced Health 0.092 0% $22,600,111 AMT Allegra Medical 0.029 0% $3,468,720 AT1 Atomo Diagnostics 0.031 0% $19,815,272 CAN Cann Group 0.062 0% $27,123,891 EPN Epsilon Healthcare 0.024 0% $7,208,496 JTL Jayex Technology 0.005 0% $1,406,393 MDC Medlab Clinical 6.600 0% $15,071,113 NOX Noxopharm 0.067 0% $19,287,705 OCC Orthocell 0.390 0% $79,544,191 OSL Oncosil Medical 0.005 0% $11,277,706 PAB Patrys 0.009 0% $18,517,026 RGT Argent Biopharma 0.410 0% $18,791,284 TD1 Tali Digital 0.002 0% $4,942,733 VFX Visionflex Group 0.007 0% $9,918,938 SNZ Summerset Grp Hldgs 10.470 0% $2,466,878,339 PBP Probiotec 2.870 -1% $231,771,707 CYC Cyclopharm 1.775 -1% $165,773,993 REG Regis Healthcare 3.955 -1% $1,204,139,676 IME Imexhs 0.570 -2% $25,956,033 VBS Vectus Biosystems 0.250 -2% $14,632,574 GSS Genetic Signatures 0.665 -2% $130,537,849 SIG Sigma Health 1.263 -3% $2,121,425,976 ZLD Zelira Therapeutics 0.680 -3% $8,113,216 NXS Next Science 0.315 -3% $90,425,482 MYX Mayne Pharma 7.010 -3% $604,878,188 UCM Uscom 0.030 -3% $7,337,628 COH Cochlear 325.790 -3% $21,208,952,460 CMP Compumedics 0.260 -4% $46,062,366 TRJ Trajan Group Holding 1.035 -4% $159,826,889 CSL CSL 276.770 -4% $132,894,500,475 NYR Nyrada Inc. 0.095 -4% $17,043,827 BOT Botanix Pharma 0.215 -4% $346,530,204 PTX Prescient 0.052 -5% $41,876,629 IXC Invex Ther 0.080 -6% $6,012,308 OCA Oceania Healthc 0.540 -6% $392,752,441 HGV Hygrovest 0.046 -6% $9,674,288 PCK Painchek 0.030 -6% $50,710,704 PNV Polynovo 2.050 -6% $1,414,977,140 AVR Anteris Technologies 21.900 -7% $422,819,055 4DX 4Dmedical 0.605 -7% $240,701,569 ENL Enlitic Inc. 0.600 -8% $47,171,669 ICR Intelicare Holdings 0.012 -8% $3,052,718 RHC Ramsay Health Care 52.140 -8% $12,062,109,885 PIQ Proteomics Int Lab 1.060 -8% $140,709,562 HXL Hexima 0.011 -8% $1,837,436 IPD Impedimed 0.084 -9% $180,055,359 LTP Ltr Pharma 0.260 -9% $19,009,482 SHL Sonic Healthcare 26.805 -9% $12,855,610,317 ARX Aroa Biosurgery 0.505 -9% $166,940,799 NC6 Nanollose 0.020 -9% $3,612,134 ACL Au Clinical Labs 2.445 -9% $494,493,337 ONE Oneview Healthcare 0.295 -9% $205,658,954 HLS Healius 1.203 -9% $885,841,930 NEU Neuren Pharmaceut. 19.250 -9% $2,458,141,763 TRU Truscreen 0.019 -10% $10,499,231 VLS Vita Life Sciences.. 2.170 -10% $122,636,378 TRI Trivarx 0.026 -10% $8,800,446 CBL Control Bionics 0.043 -10% $7,339,306 RAC Race Oncology 1.270 -11% $216,016,984 IMR Imricor Med Sys 0.500 -11% $99,250,542 LGP Little Green Pharma 0.125 -11% $39,228,879 ILA Island Pharma 0.053 -12% $6,372,612 MAP Microbalifesciences 0.185 -12% $82,852,616 AGN Argenica 0.590 -12% $66,321,583 CVB Curvebeam Ai 0.180 -12% $36,065,599 BDX Bcaldiagnostics 0.092 -12% $23,211,114 HMD Heramed 0.018 -13% $6,181,872 FCG Freedomcaregrouphold 0.170 -13% $4,299,104 AGH Althea Group 0.027 -13% $12,159,973 SHG Singular Health 0.100 -13% $19,339,952 DVL Dorsavi 0.013 -13% $7,756,601 DOC Doctor Care Anywhere 0.063 -14% $22,731,819 IMC Immuron 0.099 -14% $22,799,835 GTG Genetic Technologies 0.120 -14% $15,204,983 RHY Rhythm Biosciences 0.081 -15% $19,924,547 PER Percheron 0.070 -16% $64,911,238 ECS ECS Botanics Holding 0.021 -16% $27,059,541 EMV Emvision Medical 2.155 -16% $179,392,256 OPT Opthea 0.620 -16% $424,197,526 BMT Beamtree Holdings 0.180 -16% $50,311,541 IVX Invion 0.005 -17% $32,122,661 LBT LBT Innovations 0.020 -17% $28,134,044 EMD Emyria 0.049 -17% $18,698,099 ATX Amplia Therapeutics 0.062 -17% $11,834,390 IMU Imugene 0.087 -18% $600,224,486 UBI Universal Biosensors 0.155 -18% $35,867,119 LDX Lumos Diagnostics 0.050 -18% $25,509,266 NTI Neurotech Intl 0.089 -19% $91,564,973 MVP Medical Developments 0.485 -19% $45,741,766 RAD Radiopharm 0.045 -20% $20,330,803 IIQ Inoviq 0.490 -20% $48,769,912 ALA Arovella Therapeutic 0.120 -20% $126,018,748 MEM Memphasys 0.008 -20% $12,309,680 PAR Paradigm Bio. 0.275 -20% $89,197,964 CTQ Careteq 0.014 -22% $3,297,662 SNT Syntara 0.016 -24% $17,909,152 MX1 Micro-X 0.090 -25% $52,068,189 SOM SomnoMed 0.210 -30% $29,256,769 AVE Avecho Biotech 0.004 -30% $12,677,188 CDX Cardiex 0.053 -30% $17,356,300 BIT Biotron 0.056 -31% $50,527,428 VIT Vitura Health 0.125 -32% $66,225,486 BP8 Bph Global 0.001 -33% $1,954,116 EOF Ecofibre 0.060 -33% $23,490,182 IRX Inhalerx 0.032 -36% $6,072,543 VTI Vision Tech Inc 0.115 -36% $6,023,147 ME1 Melodiol Glb Health 0.003 -40% $2,020,462 PAA Pharmaust 0.225 -40% $96,778,349 AVH Avita Medical 2.680 -46% $162,525,744 ADR Adherium 0.022 -48% $7,480,880
Mesoblast jumped higher after announcing that the US FDA has informed the company that following additional consideration, the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support its submission.
Mesoblast has previously submitted to the FDA a proposed Biologics License Application (BLA) for remestemcel-L for treatment of pediatric patients with steroid-refractory acute graft versus host disease (SR-aGVHD).
Mesoblast now intends to file the resubmission during the next quarter, seeking to address all remaining product characterisation issues.
Separately, MSB announced that Joseph R. Swedish has resigned as chairman but will remain on the board until completion of his term at the Annual General Meeting later this year.
The board has unanimously appointed Jane Bell AM to the role of non-executive chair effective 30 April.
Recce has been rising after announcing that an independent Safety Committee has unanimously cleared an increase of Recce327 (R327) to 4000mg (IV) over a fast infusion of 30 minutes.
The approval came after the company has previously tested dosing at 3000mg at multiple infusion times; 15 mins, 20 mins, 30 mins, 45 mins, and 1 hour.
Recce has now identified 30 minutes as the potential optimum infusion time for 4000mg, as the company investigates R327’s high concentration potential.
R327 is one of Recce’s anti-infective pipelines used as an intravenous and topical therapy being developed for the treatment of serious and potentially life-threatening infections.
The drug is currently being studied in the ongoing Phase I/II study of the IV formulation in healthy volunteers and in patients with uncomplicated or recurrent urinary tract infections (UTIs).
In a parallel clinical program, R327 applied topically against diabetic foot ulcer infections recently demonstrated its efficacious potential against a broad range of antibiotic-resistant infections.
The potential of R327 via IV administration will now be made available at the completion of this human clinical trial in line with study protocol.
The genomic life science company has reported receipts from customers of $23.6m for Q3 FY24, up 111% on the prior corresponding period, as it launches four new EZZ health and wellness products.
The company’s operating cash flows remained positive at $2.04m, representing a 372% increase from the last quarter.
EZZ also recorded a 15% increase in cash balance over the previous quarter to $14.5m at March 31, 2024, with no debt.
Acrux jumped massively after announcing the launch of its generic of Dapsone 5% Gel in the United States.
Dapsone 5% Gel is a prescription medicine used on the skin (topical) to treat acne vulgaris. It helps decrease the number and severity of acne pimples, and helps pimples that do develop to heal more quickly.
Dapsone is an antibiotic. According to data from IQVIA, annual market sales for Dapsone 5% Gel products exceed US$15 million.
A generic of topical acne treatment, Aczone, it was approved by the FDA in June 2023.
IDT rose after reporting continued strong growth across all its three business pillars in Q3.
Unaudited revenue for the quarter was $3.2m, up 48% on the pcp.
Unaudited group revenue in the first three quarters of FY24 has now reached $8.9m, exceeding the full revenue in FY23 by 27%, with a quarter remaining.
IDT also says sales growth and positive momentum is expected to continue.
The post ASX Health Winners April: Mesoblast leads; and why the Health sector is just built different appeared first on Stockhead.
