{"id":6189,"date":"2024-02-22T01:27:33","date_gmt":"2024-02-22T01:27:33","guid":{"rendered":"https:\/\/economicherald.net\/?p=6189"},"modified":"2024-02-22T01:27:33","modified_gmt":"2024-02-22T01:27:33","slug":"asx-health-stocks-cogstate-falls-as-pipeline-contracts-lbt-delivers-product-to-thermo-fisher","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6189","title":{"rendered":"ASX Health Stocks: Cogstate falls as pipeline contracts; LBT delivers product to Thermo Fisher"},"content":{"rendered":"<p>Cogstate falls 7pc as clinical trials pipeline declines<br \/>\nLBT Innovations delivers its technology to Thermo Fisher<\/p>\n<p>\u00a0<\/p>\n<h2>Cogstate down after pipeline contracts<\/h2>\n<p>Neuroscience biotech, <strong><a href=\"https:\/\/stockhead.com.au\/company\/cogstate-cgs\/\">Cogstate (ASX:CGS)<\/a><\/strong>, tumbled by as much as -10% this morning after revealing that its contracted future revenue has fallen to $123m at the end of H1, compared to $146.7m in the pcp.<\/p>\n<p>The company also struggled in its clinical trials sales contracts revenue during the half, executing only $10.9m, down 60% compared to pcp \u2013 citing delays in trial approvals.<\/p>\n<p>Cogstate provided no specific guidance, but said its outlook on new clinical trials are expected to \u201cremain strong, particularly in Alzheimer\u2019s disease.\u201d<\/p>\n<p>In the first half, CGS reported EBIT of $1.8m, compared to the -$0.2m loss in the pcp. Net Profit after Tax was $2.0m, compared to the pcp of $0.1m.<\/p>\n<p>This was on the back of top line revenue of $20.2m, which was 3% higher compared to pcp.<\/p>\n<p>The board will also recommence the share buyback program to buy back up to 5 million of Cogstate\u2019s issued shares over the next 12 months.<\/p>\n<p>\u00a0<\/p>\n<h2>LBT delivers product to Thermo Fisher<\/h2>\n<p>Medtech company, <strong><a href=\"https:\/\/stockhead.com.au\/company\/lbt-innovations-lbt\/\">LBT Innovations (ASX:LBT)<\/a><\/strong>, announced the delivery of its <strong>APAS PharmaQC<\/strong> to <strong>Thermo Fisher<\/strong>\u2019s facility.<\/p>\n<p>This was the first recognised sale of APAS PharmaQC used for environmental monitoring.<\/p>\n<p>LBT says the sale reflects the positive market interest from pharmaceutical customers for its product, and has now established a pipeline of potential early adopters who have shown interest in the technology.<\/p>\n<p>The delivery to Fisher also completes the sale of the instrument agreed as part of a strategic development partnership with Thermo Fisher.<\/p>\n<p>Thermo Fisher provided funding for the development of APAS PharmaQC to support its culture plate media for use in pharmaceutical microbial quality control applications.<\/p>\n<p>The APAS (or Automated Plate Assessment System) PharmaQC technology uses AI to automate the imaging, analysis and interpretation of microbiology culture plates.<\/p>\n<p>The technology remains the only US FDA-cleared artificial intelligence technology for automated culture plate reading.<\/p>\n<p>LBT says this is the first deployment of APAS PharmaQC outside of its partnership with <em>AstraZeneca.<\/em><\/p>\n<p>\u201cThe evaluation performed by Thermo Fisher will provide meaningful performance data supporting \u2018real world\u2019 use of our technology,\u201d said Brent Barnes, CEO of LBT.<\/p>\n<p>\u201cThis will provide a further third-party validation of APAS PharmaQC, and further enhance our commercial activation of the product.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><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-cogstate-falls-as-pipeline-contracts-lbt-delivers-product-to-thermo-fisher\/\">ASX Health Stocks: Cogstate falls as pipeline contracts; LBT delivers product to Thermo Fisher<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Cogstate falls 7pc as clinical trials pipeline declines LBT Innovations delivers its technology to Thermo Fisher \u00a0 Cogstate down after pipeline contracts Neuroscience biotech, Cogstate <a href=\"https:\/\/economicherald.net\/?p=6189\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6190,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Health Stocks: Cogstate falls as pipeline contracts; LBT delivers product to Thermo Fisher - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=6189\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Health Stocks: Cogstate falls as pipeline contracts; 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