3 Healthcare Stocks Moving Up Lately - GMV, TLX And OPT

  • Nov 27, 2018 AEDT
  • Team Kalkine
3 Healthcare Stocks Moving Up Lately - GMV, TLX And OPT

G Medical Innovations Holdings Limited (ASX: GMV)

G Medical Innovations Holdings Limited (ASX: GMV) has recently announced that its wholly-owned Delaware incorporated subsidiary, G Medical Innovations USA Inc, is going to acquire all the outstanding membership interest of US-based cardiac diagnostic monitoring services provider Telerhythmics LLC for a total consideration of US$1.95 million. With this acquisition, the company will gain access to the number of large health systems that include Baptist, Ochsner, and HCA. Moreover, this synergistic acquisition will be strengthening the company’s footprint in the US market and support to increase the market share in the area of digital health delivery across the US. On 31 October 2018, the company’s CEO Mr. Yacov Geva provided an additional unsecured loan of up to US$7.0 million. Besides this, the company has achieved regulatory approval from CE, FDA, and CFDA for its Production Facility in Guangzhou China. In 1HFY18, the company earned US$1.001 Mn worth of revenue from ordinary activities. However, the company incurred a loss of US$8.509 Mn in 1H FY18 from the prior corresponding period which was at US$21.74 Mn, exhibiting downfall of 61% on PCP basis. As at 30 September 2018, the company had cash and cash equivalent of US$2.397 Mn, showing decent liquidity position. Meanwhile, the share price has fallen 19.12 percent in the last three months as on 26 November 2018. GMV’s shares traded at A$0.290 with a market capitalization of circa A$98.3 million.

Telix Pharmaceuticals Limited (ASX: TLX)

Biopharmaceutical company Telix Pharmaceuticals Limited (ASX: TLX) made an announcement on 27 November 2018, stating that the group will release 2,083,925 fully ordinary shares from voluntary escrow on December 11, 2018 as per the appropriate Listing Rule. Following the release of this news, the share price of the company increased by 3.704 percent as on 27 November 2018. Besides this, the company has recently acquired Belgium-based Advanced Nuclear Medicine Ingredients (ANMI) SA for the purpose of strengthening its business operations on a global basis instead of territorially-segmented manner. The deal is expected to complete in December 2018 which is subjected to the satisfaction of standard conditions. As at 30 September 2018, the company was having cash reserves of $37.293 million. The Cash outflows relating to operating expenses were $6.168 million in the September quarter, with total spend on direct R&D activities at $4.465 million. During the September quarter, the company received $1.190 million in R&D tax rebate for eligible overseas R&D activities undertaken in 2017. In the September quarter, the company commenced a research collaboration with the University of Melbourne to investigate the use of MTR products for improved treatments for colorectal cancer patients. In the last six months, the share price of the company increased by 7.14 percent as on 26 November 2018. TLX’s shares traded at $0.700 with a market capitalization of circa $143.29 million.

Opthea Limited (ASX: OPT)

Biopharmaceutical company Opthea Limited (ASX: OPT) is involved in the development of novel biologic therapies for the treatment of eye-related problems. On 26 November 2018, the company disclosed about its last patient which has been enrolled in the company’s ongoing Phase 2b trial of OPT302 for wet age-related macular degeneration and the group confirmed its final number of patients is 366. According to the management, this patient enrolment clinical milestone was completed ahead of schedule, and now the group is focusing on the completion of six-month treatment phase study. After that, the company will release top-line data in Q4 FY19. In FY 2018, the revenue of the company increased by 99.5 percent to $1.14 million as compared to the previous corresponding Period. The company’s total loss in FY 2018 increased by 172.9 percent to $16.90 million. Net tangible asset backing per ordinary security reduced from $0.27 in FY 2017 to $0.19 in FY 2018. No dividend paid or declared by the group during the year. In the last six months, the share price of the company increased by 33.33 percent as on 26 November 2018. OPT’s shares traded at $0.580 with a market capitalization of circa $129.56 million.


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