ASX Health Index rebounded in March, up 1pc, but still trails ASX200
\nThere are signs the healthcare space is coming back to life after a difficult 2023
\n6 ASX healthcare companies fronted fundies in Singapore<\/p>\n
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The S&P\/ASX 200 Health Care [XHJ]<\/strong> rebounded in March, finishing just over 1% higher. However, it still trailed the broader ASX200 index<\/strong>, which rose by 3% in March.<\/p>\n It was a tough year in 2023 for the healthcare space, but there are signs now that things are beginning to pick up.<\/p>\n Aussie biotech companies are now starting to raise money and investor interest at a faster rate since the peak of the pandemic market boom.<\/p>\n Earlier this month, six Australian ASX listed biotech company CEOs fronted Asian-based funds and family offices in Singapore to pitch their investment case and win new investors.<\/p>\n The six companies were:<\/p>\n Recce Pharmaceuticals (ASX:RCE)<\/a> The surge in interest among Asian investors marked a sharp turnaround after a two-year deal drought that forced many biotechs to cut jobs and shelve projects to save costs.<\/p>\n \u201cThere\u2019s been a noticeable improvement in sentiment among investors in Asia,\u201d said Omar Taheri<\/strong>, a former Sydney-based Macquarie investment banker now based in Singapore.<\/p>\n Taheri said interest from Asian based funds and family offices had been encouraged by a rebound in Australian biotech stock prices.<\/p>\n He said expectations the US Fed Reserve will soon start cutting interest rates, and a boom in M&A in the US biotech sector, were also driving interest.<\/p>\n A key barometer of the biotech sector, the US SPDR S&P Biotech ETF,<\/strong> is up 40% since its record low of October 2023.<\/p>\n \u00a0<\/p>\n Taheri says the most notable shift is an increase in \u201copportunistic\u201d deals from companies whose fundraising was not linked to encouraging drug trial data or other scientific milestones.<\/p>\n \u201cIn two years of challenging markets, most companies were relying on catalysts to raise capital. Now broader investor interest has created a window for opportunistic issuance,\u201d he said.<\/p>\n \u201cThere\u2019s a good backlog of biotechs who didn\u2019t raise funds over the past year or so who are sharpening their pencils again and Asian-based investors are very interested in Australian companies,\u201d Taheri said.<\/p>\n Taheri also said Asian-based investors were more comfortable investing in Australia\u2019s biotech sector thanks to the robust science and innovation of its universities and entrepreneurs.<\/p>\n Biotechs are particularly reliant on equity markets, because they often need large amounts of capital to fund drug development before they generate enough revenue to repay debt.<\/p>\n \u00a0<\/p>\n Code Name Price % Month Change Market Cap OSX Osteopore 30.00 242.42 $3,098,607 MSB Mesoblast 55.50 88.14 $633,095,022 RAC Race Oncology 142.00 71.08 $233,985,014 LBT LBT Innovations 2.40 60.00 $32,036,702 IMC Immuron 11.50 59.72 $26,219,810 PGC Paragon Care 31.00 51.22 $207,039,135 IVX Invion 0.60 50.00 $38,547,193 DXB Dimerix 30.00 46.34 $164,580,708 ANR Anatara Ls 3.90 44.44 $6,547,855 VIT Vitura Health 19.00 40.74 $109,416,020 UBI Universal Biosensors 20.00 37.93 $46,280,154 AVR Anteris Technologies 2348.00 36.12 $424,878,020 UCM Uscom 3.10 34.78 $7,582,216 EMD Emyria 5.90 34.09 $21,631,134 VBS Vectus Biosystems 25.50 27.50 $13,568,387 ATH Alterity Therap 0.50 25.00 $26,190,089 AVE Avecho Biotech 0.50 25.00 $15,846,485 BOT Botanix Pharma 22.50 25.00 $354,405,891 PAA Pharmaust 37.50 25.00 $147,705,438 GSS Genetic Signatures 68.00 19.30 $126,808,197 IMR Imricor Med Sys 56.00 19.15 $105,377,028 IRX Inhalerx 5.00 19.05 $9,488,348 EZZ EZZ Life Science 58.00 18.37 $24,768,900 1AD Adalta 2.70 17.39 $14,196,980 BDX Bcaldiagnostics 10.50 16.67 $26,490,945 MAP Microbalifesciences 21.00 16.67 $83,962,339 RSH Respiri 2.80 16.67 $29,676,330 SIG Sigma Health 129.50 15.11 $2,113,266,645 REG Regis Healthcare 401.00 14.90 $1,207,150,025 RHT Resonance Health 7.00 14.75 $31,282,505 FCG Freedomcaregrouphold 19.50 14.71 $4,657,362 HLS Healius 132.50 13.25 $962,082,424 RMD ResMed Inc. 3015.00 12.84 $18,592,878,182 PSQ Pacific Smiles Grp 160.00 12.28 $255,331,101 EYE Nova EYE Medical 23.00 12.20 $52,623,373 GTG Genetic Technologies 14.00 12.00 $16,158,414 MEM Memphasys 1.00 11.11 $13,677,423 ALC Alcidion Group 5.10 10.87 $68,466,134 AT1 Atomo Diagnostics 3.10 10.71 $19,815,272 VLS Vita Life Sciences.. 242.00 10.50 $131,613,363 OPT Opthea 74.00 10.45 $490,478,389 ACL Au Clinical Labs 269.00 10.25 $542,933,500 NYR Nyrada Inc. 9.90 10.00 $17,761,461 PTX Prescient 5.50 10.00 $44,292,589 CBL Control Bionics 4.60 9.52 $7,851,350 MX1 Micro-X 12.00 9.09 $62,258,445 IMM Immutep 38.00 8.57 $451,757,132 TLX Telix Pharmaceutical 1289.00 8.05 $4,176,230,417 BIT Biotron 8.10 8.00 $73,084,316 HIQ Hitiq 2.70 8.00 $9,499,814 CTE Cryosite 69.00 7.81 $33,678,598 PYC PYC Therapeutics 8.20 7.77 $347,095,105 LGP Little Green Pharma 14.00 7.69 $42,013,053 NEU Neuren Pharmaceut. 2122.00 7.66 $2,705,458,245 AGH Althea Group 3.20 6.67 $12,970,638 HGV Hygrovest 4.90 6.52 $10,305,219 OCA Oceania Healthc 57.50 6.48 $418,208,618 MYX Mayne Pharma 724.00 6.47 $615,937,845 AGN Argenica 67.00 6.35 $66,826,351 CGS Cogstate 135.00 6.30 $231,348,593 TRU Truscreen 2.10 5.00 $11,604,413 BMT Beamtree Holdings 21.50 4.88 $61,612,339 TRJ Trajan Group Holding 107.50 4.88 $163,632,291 NTI Neurotech Intl 11.00 4.76 $100,912,745 ANN Ansell 2458.00 4.68 $3,067,234,251 PIQ Proteomics Int Lab 115.00 4.55 $150,526,508 ECS ECS Botanics Holding 2.50 4.17 $32,213,739 SNZ Summerset Grp Hldgs 1052.00 3.95 $2,478,659,038 PBP Probiotec 290.00 3.94 $235,837,877 RHC Ramsay Health Care 5651.00 3.76 $12,965,354,275 SDI SDI 85.00 3.66 $101,035,701 FPH Fisher & Paykel H. 2366.00 3.64 $13,816,580,716 CHM Chimeric Therapeutic 3.00 3.45 $25,403,736 CUV Clinuvel Pharmaceut. 1436.00 3.16 $719,827,597 PAR Paradigm Bio. 34.50 2.99 $120,910,140 CSX Cleanspace Holdings 35.00 2.94 $27,056,092 M7T Mach7 Tech 71.50 2.88 $172,487,349 CU6 Clarity Pharma 275.00 2.55 $723,593,800 CVB Curvebeam Ai 20.50 2.50 $44,808,775 NSB Neuroscientific 4.70 2.17 $6,796,429 CSL CSL 28792.00 1.97 $139,138,125,734 DOC Doctor Care Anywhere 7.10 1.43 $26,031,599 ATX Amplia Therapeutics 7.70 1.32 $14,938,492 SHL Sonic Healthcare 2941.00 0.89 $14,110,961,321 VHT Volpara Health Tech 113.50 0.89 $288,714,840 EBR EBR Systems 80.00 0.63 $246,472,206 IDX Integral Diagnostics 225.00 0.45 $525,307,430 PME Pro Medicus 10375.00 0.35 $10,834,081,508 MVF Monash IVF Group 144.50 0.35 $563,022,344 COH Cochlear 33752.00 0.30 $22,105,566,607 AC8 Auscann Grp Hlgs 4.00 0.00 $17,621,884 ADR Adherium 4.20 0.00 $14,004,479 AHC Austco Healthcare 18.50 0.00 $55,125,286 AHI Advanced Health 9.20 0.00 $22,600,111 AMT Allegra Medical 2.90 0.00 $3,468,720 BP8 Bph Global 0.10 0.00 $1,954,116 CAN Cann Group 6.20 0.00 $27,123,891 CYP Cynata Therapeutics 19.00 0.00 $34,130,039 DVL Dorsavi 1.50 0.00 $8,949,924 EPN Epsilon Healthcare 2.40 0.00 $7,208,496 FRE Firebrickpharma 5.00 0.00 $8,947,337 GLH Global Health 11.50 0.00 $6,675,697 HMD Heramed 2.00 0.00 $7,064,996 MDC Medlab Clinical 660.00 0.00 $15,071,113 PCK Painchek 3.20 0.00 $52,346,533 RHY Rhythm Biosciences 9.50 0.00 $23,368,296 TD1 Tali Digital 0.15 0.00 $4,942,733 VFX Visionflex Group 0.80 0.00 $11,335,930 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Osteopore (ASX:OSX)<\/a><\/strong><\/p>\n Osteopore\u2019s stock price spiked 400% in one day after announcing that it has received clearance from two regulators, namely Singapore\u2019s Health Sciences Authority (HSA<\/em>) and Vietnam\u2019s Department of Medical Equipment and Construction (DMEC),<\/em> for its aXOpore product, which is essentially a porous lattice that is used around existing bones, which mimics the natural bone microstructure to promote new bone growth.<\/p>\n However\u2026 this massive spike comes on the tail of a recent huge fall in share price for Osteopore, after the company went to market seeking $3,000,000 through a placement priced at a massive 94.42% discount to last closing price.<\/p>\n That came about through a number of factors, including an ill-timed 15:1 consolidation.<\/p>\n \u00a0<\/p>\n Mesoblast (ASX:MSB)<\/a><\/strong><\/p>\n Mesoblast jumped 50% after announcing that 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.<\/p>\n 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).<\/p>\n Mesoblast now intends to file the resubmission during the next quarter, seeking to address all remaining product characterisation issues.<\/p>\n \u00a0<\/p>\n Race Oncology (ASX:RAC)<\/a><\/strong><\/p>\n Race Oncology has been issued a Certificate of Analysis (CoA) for its first current Good Manufacturing Practice (cGMP) batch of proprietary bisantrene formulation RC220.<\/p>\n The certificate of analysis was issued by Ardena for first cGMP batch of bisantrene formulation RC220.<\/p>\n This confirmed that RC220 meets all cGMP specifications required for a human IV drug product.<\/p>\n The company says this was a major milestone in the progress of RC220 for use in human clinical trials.<\/p>\n \u00a0<\/p>\n Immuron (ASX:IMC)<\/a><\/strong><\/p>\n Immuron jumped after announcing interim topline results confirming the efficacy of Travelan in preventing diarrhoea following a bout of enterotoxigenic Escherichia coli (ETEC).<\/p>\n The study on 60 patients show that a single daily dose of Travelan is 36.4% effective in the prevention of moderate to severe diarrhoea induced by ETEC, when compared to the placebo group in the study.<\/p>\n Around 66.7% protective efficacy against ETEC-induced severe diarrhoea was also observed in the patients taking Travelan, compared to the placebo group (secondary endpoint).<\/p>\n \u00a0<\/p>\n
\nArovella Therapeutics (ASX: ALA)<\/a>
\nPharmAust\u00a0(ASX:PAA)<\/a>
\nBCAL Diagnostics\u00a0(ASX:BDX)<\/a>
\nPrescient Therapeutics\u00a0(ASX:PTX)<\/a>
\nNeurotech International (ASX:NTI)<\/a><\/p>\nBig interest in Aussie biotechs<\/h2>\n
Here are the ASX Biotech Winners for March 2024<\/h2>\n