NEU, CYC and IMR – Why are these ASX-listed healthcare stocks thriving amid pandemic?

Image Source: © Ababil12 | Megapixl.com

Highlights

  • Neuren achieved strong positive Phase 3 results for Trofinetide in Rett syndrome.
  • CYC reported record sales revenue, despite constant limitations from the COVID-19 pandemic throughout the year.
  • Imricor added five new sites to its European business.

COVID-19 lockdowns and restrictions have affected almost every business, including the healthcare sector. However, many companies have managed to thrive and expand their networks despite difficult circumstances.

In this article, we will talk about how three ASX-listed healthcare companies NEU, CYC, and IMR, performed during uncertain times of the fiscal year 2021 (FY21).

2021: A transformational year for Neuren

Neuren Pharmaceuticals (ASX: NEU) aims to improve lives of people with neurodevelopmental disabilities. The company has two new drug therapies under development for the treatment of multiple neurological disorders in children, for which, there are no approved drug therapies.

Neuren is in a position to conduct business at a much larger in 2022, with the achievement of strong positive Phase 3 results for Trofinetide in Rett syndrome. Neuren is expecting to receive a revenue of AU$115 million over 2022 and 2023 in the US alone for Rett syndrome. The company is progressing discussions with potential partners ex-North America and is receiving strong interest from multiple parties.

Stock information: As per ASX data, the share price of NEU was AU$3.960 as of 03 March.

Do read: PLS, UWL, NEU, AVR, HXL: 5 ASX stocks with over 100% past year gains

Cyclopharm Limited (ASX: CYC) achieved record sales revenue despite COVID-19-related obstacles

Cyclopharm is an ASX-listed radiopharmaceutical company. The company’s core pharmaceutical product is Technegas™, which is used in functional lung ventilation imaging. CYC reported a record sales revenue of AU$17.70 million, despite persistent disruption from the COVID-19 pandemic throughout the year.

Stock information: CYC stock last traded at AU$1.62 with a market capital of AU$151.26 million.

Do read: 5 medical stocks to watch out for in 2022 -TLX, RHT, CYC, IPD, AVR

Imricor Medical Systems, Inc. (ASX: IMR) added five new sites in Europe

Image source: © Guarant | Megapixl.com

Imricor is the world's first company to bring commercially viable and safe MRI-compatible products to the cardiac catheter ablation market. Headquartered in the US, the company seeks to increase the success rate and reduce costs of cardiac catheter ablation procedures.

Significant highlights of the year

  • The company added five new sites to its European business, summing up to 14 locations across the continent.
  • It received TGA’s approval for the Advantage-MR system in Australia and Medsafe approval for all Imricor products in New Zealand.
  • Raised an amount of AU$16.5 million through an institutional placement.
  • Entered into multiple sales distribution agreements.
  • Reported a cash balance of US$18.516 million as of 31 Dec 2021.

Stock information: As per ASX data, IMR was trading at AU$0.630 today.

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