The biotech and health care are one of the best sectors in the world. It also remains the biggest employer in the Australian economy and as technology takes hold the sector is growing with a rapid pace and remains the fourth biggest contributor to Australian GDP. Here are three heath care and biotech stocks.
PARADIGM BIOPHARMACEUTICALS LIMITED (ASX: PAR) – From an additional 38 patients with osteoarthritis treated with injectable Pentosan Polysulfate Sodium there is a consistent reduction in pain. The revenue from continuing activities increased 48.00% to $2,736,400 up from $887,476. Due to which the basic earnings per ordinary security was also lower at (5.46) cents as compared to (4.42) cents in the PCP. Paradigm made a loss for the financial year ended 30 June 2018 of $6,190,232 as compared to 2017 loss of $4,275,446. The total revenue including other income during the period was $2,736,400 higher than 2017 of $1,848,924. The stock price opened at $1.280 and went higher by 15.079% to close at $1.450 which is near its 52-week high. It has witnessed a positive change of 384.62% in one year.
CLINUVEL PHARMACEUTICALS LIMITED (ASX: CUV) – The Board of Directors, on 29 August 2018, declared an unfranked dividend of $0.02 per ordinary share concerning the full year ended 30 June 2018. As compared to a prior financial year $7.114 million profit before tax, the group result for the half year at 30 June 2018 was $12.942 million profit before tax, an 82% increase. It is the first time Group has achieved consecutive profits, this is the highest before tax profit result in the Group’s history. The company has a high P/E of 62.090 and EPS of $0.277 AUD which highlights better growth in future and compares well among the peer basket. The stock price opened at $17.000 and went lower by 2.384% to close at $16.7990. It has witnessed a positive change of 115.00% in one year.
NUHEARA LIMITED (ASX: NUH) – The company recently completes oversubscribed $5 million equity raising to institutional and sophisticated investors transforming the way people hear by creating game-changing hearing solutions that are accessible and affordable. The Group achieved a net loss after tax of $7,416,412 a decline of 53% when compared with a net loss after tax of $4,839,623 for the year ended 30 June 2017. For the next six months Nuheara in achieving its planned objectives by increasing inventory levels of IQbuds BOOST, increasing sales and marketing activities, manufacture and development of new products including IQstream TV and IQbuds MAX. The stock price opened at $0.082 and went higher by -1.205% to close at $0.082. It has witnessed a positive change of 43.10% in one year.
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