The below-mentioned stocks are operating under Biotech and Pharma space. These stocks have made significant operational progress in the recent past. Let’s take a closer look at each.
Next Science Limited (ASX: NXS)
Australian medical technology company, Next Science Limited (ASX: NXS) recently made its debut on ASX after completing the issue of 35,000,010 shares at an issue price of $1.00 under the initial public offering (IPO). The funds raised from the IPO will be used to develop Next Science Limited’s product development activities, including commercialization of its proprietary Xbio technology. The company is targeting the treatment of human bacterial infections, and its products are used by health care professionals to treat and prevent bacterial infections. The company’s Xbio technology is protected by 15 granted patents and 47 patent applications throughout the world and is having broad applications in the human health care sector.
The company’ shares last traded at a price of $1.680, with a market capitalisation of circa $312.4 million as on 26th April 2019.
Noxopharm Limited (ASX: NOX)
An Australian drug development company, Noxopharm Limited (ASX: NOX) recently informed to the market about a number of Board changes, prompted by a strategic decision of raising its profile and presence in the US, including a listing of its securities on the Nasdaq exchange. The company has moved highly experienced Dr. Graham Kelly from the position of CEO and Executive Director to Executive Chairman. Moreover, it has appointed Peter Marks as Non-Executive Deputy Chairman. Recently, the company’s pre-clinical studies confirmed Idronoxil as a new immuno-oncology drug, providing an opportunity to combine Veyonda® with a standard checkpoint inhibitor to achieve a more potent immuno-oncology effect in cancers.
In the past six months, the company’s shares decreased by 30.30% as on 24th April 2019. The company’s shares traded at a price of $0.495, with a market capitalisation of circa $56.40 million as on 26 April 2019.
Paradigm Biopharmaceuticals Limited (ASX: PAR)
Australian biopharmaceutical company, Paradigm Biopharmaceuticals Limited (ASX: PAR) recently accelerated a fully underwritten non-renounceable pro-rata offer to eligible shareholders on the basis of 1 new share for every 8 shares held as at the Record Date at an issue price of $1.50. The offer opened on 24th April 2019, and its results will be announced on 9th May 2019. The proceeds of the offer will be used to fund the company’s osteoarthritis and MPS (rare disease) programs. Further, the funds will be used for new drug applications, working capital and providing for the costs of offer. The issue of new shares is expected to occur on 13 May 2019, and quotation of the new shares under Retail Entitlement Offer will occur on 14th May 2019. Recently, the company’s Director, Mr. Christopher Maxwell Fullerton acquired 19,500 ordinary shares for a total consideration of $32,130 via on-market trade.
In the past six months, the company’s shares increased by 104.15% as on 24 April 2019. The company’ stock traded at a price of $1.600, with a market capitalisation of circa $232.73 million as on 26 April 2019.
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