3 Healthcare Stocks - MXC, IMM, AGH

  • Jun 21, 2019 AEST
  • Team Kalkine
3 Healthcare Stocks - MXC, IMM, AGH

The below-mentioned health care stocks have come up with significant updates today. Let’s take a quick look at these stocks.

MGC Pharmaceuticals Ltd (ASX: MXC)

The European based biopharma company, MGC Pharmaceuticals Ltd (ASX: MXC) has signed a distribution agreement with Mexacare GmbH, a German-based company, for the distribution of its phytocannabinoid products in Germany, Austria and Switzerland. This agreement is providing MGC Pharmaceuticals with access to a new marketplace within Europe via Mexacare’s established distribution network.

Following the release, the share price of the company increased by 3.846% during the intraday trade.

The agreement covers MGC Pharma’s propriety cannabinoid treatments, specifically CannEpilTM (epilepsy), as well as its Investigational Medicinal Products (IMPs), including CogniCannTM.

This is a significant agreement for the company as Germany and the associated regions represent a key emerging market within the wider European zone, and moreover, the German medical cannabis market alone is estimated to grow to €7.7 billion by 2028.

Under the agreement, Mexacare will act as a distributor in the territory (Germany, Australia and Switzerland) to sell MGC Pharma’s products under the brand of MGC Pharma. As per the terms of the agreement, until the period of one year of signing the agreement, the company is not allowed to appoint more than one additional distributor of MGC Pharma’s products in the territory. Along with this, the company is not allowed to actively sell or distribute products to any other party in the region.

Recently, the company signed a New distribution agreement with a Brazilian based company, ONIX Empreendimentos e Participações to gain access to the Brazilian market via ONIX’s subsidiary OnixCann, a distributor of phytocannabinoid-based products in Brazil connecting doctors and patients.

As per the terms of the agreement, ONIX, through its affiliates or service providers, will utilise standard operating procedures to exclusively commercialise and distribute MGC Pharma products in Brazil for a minimum term of three years. The products will be commercialised by ONIX solely under MGC Pharma's brand and ONIX will be responsible for obtaining the market approvals to import products to the individual in Brazil.

In the past six months, MGC Pharmaceuticals Ltd’s stock has provided a return of 40.54% as on 20th June 2019. At market close on 21st June 2019, the company’s stock was trading at a price of $0.054, with a market capitalisation of $63.07 million. Its 52 weeks high price stands at $0.081 and 52 weeks low price at $0.032, with an average volume of ~4,610,549.

Immutep Limited (ASX: IMM)

A globally active biotechnology company, Immutep Limited (ASX: IMM) has made an announcement stating that it has been granted a new patent (number 2014368420) by the Australian Patent Office

The new patent which is entitled “Combined Preparations for the Treatment of Cancer” is highlighting the broad potential of efti, Immutep’s current lead product, as an immunostimulant and provides patent protection in Australia for a range of novel and highly relevant chemo-immunotherapies featuring efti that may be pursued in the future.

Recently, the company announced that it has completed the recruitment of Initial Cohort in 1st Line NSCLC Patients for TACTI-002 Trial, which is being conducted to evaluate the combination of the efti with MSD’s KEYTRUDA® in up to 109 patients. The initial data from the TACTI-002 study is expected to be released in mid-2019.

The company is progressing well under its strong leadership team. The company is currently headed by highly experienced Mr Marc Voigt, who is acting as a CEO of the company.

In the March quarter, the company reported net cash used in operating activities of $4,425k and net cash used in investing activities of $16k, with net cash used in financing activities of $187k. As on 31st March 2019, the company had cash and cash equivalents of $21,222k.

For the half year ended 31st December 2018, the company reported a loss after tax of $8,678,492, which was 100.7% lower than the previous corresponding period (pcp). As on 31st December 2018, the company had a net tangible asset per share of 0.47 cents as compared to 0.35 in pcp.

Half year Financials (Source: Company Reports)

During the first half of the financial year 2019, an encouraging data was posted from the company’s lead immunotherapy product candidate efti, with data from its Phase I TACTI-mel clinical trial presented at the leading industry conferences.


In the past six months, Immutep Limited’s stock has provided a negative return of 10.34% as on 20th June 2019. The company’s stock, at market close, was trading at $0.026, with a market capitalisation of $88.1 million on 21st June 2019. Its 52 weeks high price stands at $0.056 and its 52 weeks low price is 0.026, with an average volume of ~1,984,268.

Althea Group Holdings Limited (ASX: AGH)

Australian medicinal cannabis company, Althea Group Holdings Limited (ASX: AGH) has received its first patient prescription for medicinal cannabis in the UK via its wholly-owned subsidiary, Althea MMJ UK Ltd. Along with this, a planning permit has been issued by Frankston City Council for Althea’s Australian cultivation and manufacturing facility.

Following the release of this news, the share price of the company increased by 8.235% during the intraday trade.

The company is expecting to receive further patient prescriptions in the upcoming days. While commenting on the planning permit, the company’s Director of Cultivation, Daniel Mansfield told that the company will continue to work towards its goal of meeting a 2020 production target.

The company recently achieved the 1,000-patient milestone in Australia with 227 new patients in the month of May.

Patient Growth (Source: Company Reports)

The company was recently granted a Hemp Cultivation License for commercial purposes related to non-therapeutic use, which is an encouraging piece of news for the company and its shareholders.

In order to begin importing and distributing its branded medicinal cannabis products in Australia, the company entered into a number of strategic partnerships. The company has established a complementary education and patient support service via its Althea Concierge mobile application and a web-based platform which provides information and support to its patients and health care professionals for accessing medicinal cannabis.

The Australian market for medicinal cannabis is emerging, with the current regulatory framework for cultivation, manufacturing, distribution and consumption only being enacted in 2016. The company intends to become a leading and trusted medicinal cannabis brand in Australia by establishing medicinal cannabis cultivation, cannabinoid extraction and manufacturing facility. At the time of its IPO, the company informed that it does not expect to pay dividends in the near future, as its focus will primarily be on using cash reserves to seek the development of its business.

In the past six months, Althea Group Holdings’ stock has generated a return of 359.46% as on 20th June 2019. The company’s stock, at market close on 21st June 2019, was trading at $0.920, with a market capitalisation of $172.81 million. Its 52 weeks high price stands at $0.955 and its 52 weeks low price at $0.175, with an average volume of circa 477,035.


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