2 Healthcare Stocks In Penny Space – BNO, AC8

  • May 20, 2019 AEST
  • Team Kalkine
2 Healthcare Stocks In Penny Space – BNO, AC8

A close look at the following two healthcare stocks as the S&P/ASX 200 Health Care Index edged up 0.15% to the current value of 32,355.4 by 47 points.

Bionomics Limited

Bionomics Limited (ASX: BNO) was established in 1998 and is domiciled in Thebarton, Australia. It is a clinical stage biopharmaceutical company that is engaged in extensive research and development to discover and develop novel drug and innovative therapeutics for the treatment of central nervous system disorders and cancer in patients across Australia, the United States and France. Bionomics’ lead drug candidate BNC210, a novel, proprietary negative allosteric modulator of the alpha-7 nicotinic acetylcholine receptor, is currently undergoing Phase 2 trial for the treatment of agitations.

BNC210 is aiming at multi-billion-dollar markets with unmet requirements. The US market potential is illustrated as follows:

Source: Further Analysis of Phase 2 PTSD Trial Results Presentation

With a small market capitalisation of ~ AUD 70.81 million and ~544.69 million outstanding shares, the BNO stock price closed the market trading at AUD 0.135, edging up 3.85% by AUD 0.005 with ~ 292,378 shares traded on 20th May 2019. In addition, the BNO stock price has generated a positive YTD return of 20.93%.

Recently, Bionomics informed that it presented the expanded data from the Phase 2 Post Traumatic Stress Disorder (PTSD) Clinical Trial using BNC210 at the 74th Society of Biological Psychiatry (SOBP) Annual Scientific Conference.

As per the Quarterly Cashflow Report for the three months to 31st March 2019, the company posted cash receipts of $ 1.94 million as compared to $ 2.66 million as on 31st December 2018. Besides, the R&D cost reduced by 62% and the cash balance stood at $ 22.1 million as of the end of quarter.

In addition, Greenhill & Co continued their engagement with Bionomics to assess the strategic options for partnering and portfolio prioritisation.

Auscann Group Holdings Ltd

The Joondalup, Australia-based Auscann Group Holdings Ltd (ASX: AC8) is engaged in research, development, cultivation, production and commercialisation of clinically validated cannabis medicines to patients across Australia. In addition, the Group has a strategic partnership with Tasmanian Alkaloids, one of the largest opium poppy processing companies in the country. Besides, it has additional partners which are as follows:

         

   

               

Source: Company’s Website

The Group has a market capitalisation of around AUD 119.04 million, with ~ 309.19 million outstanding shares. The AC8 stock closed the market trading on 20th May 2019 at the last selling price of AUD 0.370, dipping 3.896% by AUD 0.015, with ~ 647,425 shares traded. The stock has a 52-week high of AUD 1.540 and a 52-week low of AUD 0.295.

As per the company’s quarterly activities report for the three months to March 20th, 2019, Auscann Group Holdings finalised its leadership transition process with the appointment of global pharmaceutical executive Mr. Ido Kanyon as its new CEO, effective May 22nd, 2019.

In addition, the Group continued to broaden its strategic partnerships to diversify the supply of raw materials. AusCann signed a purchase agreement with MediPharm Labs, Canada’s largest supplier of purified, pharmaceutical grade cannabis extracts, for buying cannabis resin. It also acquired a dedicated 7,300 m2 Research & Development (R&D) facility located in Perth, Western Australia at 5.25 million to support its own product development capabilities. The facility will be upgraded with construction to begin in May and expected to be completed this year.


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