{"id":2348,"date":"2023-11-28T01:37:02","date_gmt":"2023-11-28T01:37:02","guid":{"rendered":"https:\/\/economicherald.net\/?p=2348"},"modified":"2023-11-28T01:37:02","modified_gmt":"2023-11-28T01:37:02","slug":"asx-health-stocks-nova-eye-catches-a-break-as-us-medicare-reimbursement-decision-deferred-until-march","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2348","title":{"rendered":"ASX Health Stocks: Nova Eye catches a break as US Medicare reimbursement decision deferred until March"},"content":{"rendered":"<p>Nova Eye gets reprieve after US Medicare reimbursement delayed until 2024<br \/>\nDimerix gets green light in China to start clinical trial recruitment<br \/>\nMicroba provides results on its autoimmune disease study with Ginkgo Bioworks<\/p>\n<p>\u00a0<\/p>\n<h2>Nova Eye gets temporary reprieve in the US<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/nova-eye-medical-eye\/\">Nova Eye Medical (ASX:EYE)<\/a><\/strong> jumped 15% this morning after advising that the final draft of the <strong>local coverage determination (LCD),<\/strong> issued by the<strong> US National Government Services (NGS)<\/strong>, has been deferred from December 23 to March 23, 2024.<\/p>\n<p>The NGS administers insurance reimbursement claims of healthcare facilities in the states of New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire, Maine, Minnesota, Illinois, and Wisconsin.<\/p>\n<p>NGS said the the deferral is to \u201callow more time to make decisions regarding comments received\u201d.<\/p>\n<p>A fortnight ago, EYE reported that four additional Medicare Administrative Contractors (MACs) have proposed LCD changes on Medicare reimbursement of <strong>minimally invasive glaucoma surgery (MIGS)<\/strong> procedures in the US.<\/p>\n<p>This would have hit Nova Eye particularly hard, as \u201capproximately 40% of the company\u2019s global revenues are derived from health care facilities located in the 38 states covered by these four MACs,\u201d according to the company.<\/p>\n<p>\u201cToday\u2019s deferral by NGS is therefore a positive outcome for the near-term sales of the Nova\u2019s iTrack portfolio of canaloplasty devices, which have been performing strongly since the USA launch of iTrack Advance in May.\u201d<\/p>\n<p>Reimbursement coverage of canaloplasty surgeries by NGS beyond March 23, 2024 will now depend on whether the proposed LCD is implemented.<\/p>\n<p>\u00a0<\/p>\n<h2>Dimerix\u2019s Phase 3 recruitment to commence in China<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/dimerix-dxb\/\">Dimerix (ASX:DXB)<\/a><\/strong> surged 12% this morning after saying that the <strong>Investigational New Drug (IND)<\/strong> application for <strong>DMX-200<\/strong> has been approved by the <em>National Medical Products Administration (NMPA)<\/em>, the Chinese regulatory agency.<\/p>\n<p>The approval will allow Dimerix to commence recruitment for its <strong>ACTION3 Phase 3 study of DMX-200<\/strong> on focal segmental glomerulosclerosis (FSGS) kidney disease patients in China.<\/p>\n<p>Importantly, the IND approval confirms that no further manufacturing, nonclinical or clinical (bridging) studies are required prior to recruitment of Chinese patients. The open IND will also likely further support partnering discussions in the region.<\/p>\n<p>Dimerix says the full study will enrol 286 patients with FSGS globally, including some in mainland China.<\/p>\n<p>Positive data from the ACTION3 study may support a future marketing authorisation application for DMX-200 (or Qytovra in some territories) in China.<\/p>\n<p>\u201cFSGS remains an area of high unmet medical need with no approved therapies for this indication. We look forward to reporting the outcome of the study\u2019s first analysis in March 2024,\u201d said <em>Dr David Fuller, Dimerix chief medical officer.<\/em><\/p>\n<p>\u00a0<\/p>\n<h2>Microba reports results of study with Ginkgo Bioworks<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/microba-life-sciences-map\/\">Microba Life Sciences\u00a0(ASX:MAP)<\/a><\/strong> announced that <strong>Stage 1 activity screening<\/strong> for the company\u2019s autoimmune disease program has been completed on schedule together with partner <strong>Ginkgo Bioworks (NYSE: DNA)<\/strong>.<\/p>\n<p>The Stage 1 activity screening analysed 1,821 strains selected through Microba\u2019s data driven drug discovery platform, with 62% of strains demonstrating significant immuno-modulatory activity, and a further 18% significantly impacting the inflammasome.<\/p>\n<p>From this work, 36 strains have now progressed into Stage 2 functional screening for expected completion in Q4 FY24 to enable lead candidate selection.<\/p>\n<p>\u201cThis milestone for our auto-immune disease program is a critical step as we move toward selecting potential lead candidates for future development,\u201d said <em>Professor Trent Munro, SVP of Therapeutics at Microba.<\/em><\/p>\n<p>\u201cOur partnership with Ginkgo has allowed us to interrogate complex biology with a speed and throughput which would not be otherwise possible.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-nova-eye-catches-a-break-as-us-medicare-reimbursement-decision-deferred-until-march\/\">ASX Health Stocks: Nova Eye catches a break as US Medicare reimbursement decision deferred until March<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Nova Eye gets reprieve after US Medicare reimbursement delayed until 2024 Dimerix gets green light in China to start clinical trial recruitment Microba provides results <a href=\"https:\/\/economicherald.net\/?p=2348\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2349,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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