ASX Health Stocks: Health app firm MedAdvisor guides the market to record year and maiden profit

MedAdvisor guides the market to maiden profit

MedAdvisor (ASX:MDR) jumped +15% this morning after providing guidance for the full year ending this June.

Based on the strong start to Q4 FY24 and anticipated activity levels over the remainder of this quarter, the company expects to deliver positive revenue, EBITDA and NPAT for the full year.

Revenue is set to come in between $120m-$123m, an all time record (versus $98m in the pcp)

EBITDA is set to come in between $6.8m -$7.6m (versus loss of -$3m in the pcp)

NPAT is set to come in between $0.5m -$0.8m, first ever profit for the firm, (versus loss of -$11.3m in the pcp)

The key growth drivers, MedAdvisor says, are the significant contributions from THRiV in the US and increased transaction fees in Australia.

THRiV is MedAdvisor’s health app that helps patients to order and keep track of medications, receive script and pill reminders, and connect with health providers.

“A primary objective for this year was to achieve profitable EBITDA growth, and I am proud to announce that our team has successfully met this goal,” said MedAdvisor Solutions CEO, Rick Ratliff.

Looking ahead to FY25, the company anticipates continued growth driven by the increasing adoption of its solutions and the introduction of new products.

Chimeric commences Phase 1/2 trial in cancers

Chimeric Therapeutics (ASX: CHM) announced that its Phase 1/2 clinical trial for CHM CDH17 CAR T cell therapy (CHM 2101) is now up and running.

The trial is happening at SCRI Oncology Partners in Nashville, Tennessee, a world-class centre known for conducting first-in-human trials and developing new cancer treatments.

SCRI Oncology works closely with the Sarah Cannon Research Institute (SCRI), a global leader in oncology research with over 30 years of experience in managing clinical trials.

Additional clinical trial sites are anticipated to open in the second half of 2024.

The Phase 1/2 trial will assess CHM CDH17 (CHM 2101) to see how safe it is and how well it works for people with advanced colorectal cancer, gastric cancer, and intestinal neuroendocrine tumours.

The trial will also determine the right dose to use for Phase 2.

CHM CDH17 is a CAR T-cell therapy invented at the world-renowned University of Pennsylvania cell therapy centre.

Studies published in March 2022 in Nature Cancer suggest that CHM CDH17 can wipe out tumours completely in seven different types of cancer.

“Initiation of the CHM CDH17 CAR T clinical trial marks a major value-creating milestone for Chimeric, as we advance this high market potential asset from preclinical to clinical stage” said Dr Rebecca McQualter, COO of Chimeric.