Image Source: © Elenabsl | Megapixl.com
- The S&P/ASX200 Health Care was down by about 0.03% on Friday, while the index has lost almost 0.47% this week
- Q4 was a record quarter for Microba following a successful IPO of AU$30 million
- Earlier this week, Rhinomed entered a supply agreement with SureScreen Australia to supply Rhinoswabs and Rhinoswab Juniors
The S&P/ASX200 dropped by 0.04% on Friday to 6791.5. Over this week, the index has gained nearly 2.81%. Parallel to this, the benchmark index of healthcare, S&P/ASX200 Health Care also closed lower on Friday with a loss of 0.03% and the index has lost almost 0.47% this week.
On this note, we will discuss four penny stocks from the healthcare sector that have gained over 20% this week, outperforming the index.
Microba Life Sciences Limited (ASX:MAP)
Image source: © Darren4155 | Megapixl.com
On Wednesday, Microba Life Sciences released its quarterly report for Q4 FY22. The precision microbiome company has gained nearly 27.27% this week.
Q4 turned out to be a record quarter for Microba following the successful IPO of AU$30 million. Its unaudited revenue exhibited 59% growth on the previous corresponding period. Further, the company achieved some major milestones during the quarter, including a new product launch, delivery of record research projects, and new distribution partnerships.
Shares of Rhinomed Limited, a nasal and airway technology company, are up by about 25% this week. The uptick in share price followed an important update from the company regarding a supply agreement.
Rhinomed and SureScreen Australia have signed a supply agreement for the supply of Rhinoswabs and Rhinoswab Juniors for 24 months, during which Rhinomed will deliver at least 10 million swabs over two years. The agreement holds the potential to represent over 160% of the H1FY22 revenues of Rhinomed.
The share price of Arovella, a biotechnology firm, has appreciated by almost 31.82% this week. The biotechnology firm is involved in developing an invariant Natural Killer T (iNKT) cell platform as well as an oral spray delivery technology. This is being built to fight cancer and conditions that harm the central nervous system.
Last month, the company announced the commercial launch of its product ZolpiMist (zolpidem tartrate) in Australia. ZolpiMist is meant for the short-term treatment of insomnia in adults.
Shares of Volpara Health, a breast cancer software company, rallied by nearly 28.8% this week. Earlier this month, the company signed a contract with Radnet Management, Inc., a US-based company providing outpatient imaging services.
The contract is for 42 months (option to extend), under which Radnet will implement Volpara’s software in its organisations across more than 350 sites.
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