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The healthcare industry in Australia has witnessed rapid developments over the past several years. Thanks to the same, today Australia boasts one of the best healthcare systems in the world. The publicly listed healthcare companies in Australia are benchmarked against the healthcare index, the S&P/ASX 200 Health Care Sector. The healthcare sector index closed trading at 35,676.1 on 31 July 2019, down by 0.31%, while the benchmark index S&P/ASX 200 settled at 6,845.1, down by 0.48%. In this article, we have covered updates from five health related stocks.
Volpara Health Technologies Limited
About the Company: Volpara Health Technologies Limited (ASX: VHT) is an Australia registered company, which is involved in developing digital solutions, enabling personalised breast cancer screening software applications. The company was officially listed on ASX in April 2016.
On 30th July 2019, the company reported its performance during the first quarter of FY20. VHT acquired US-based MRS Systems Inc., as well as raised an amount of AUD 55 million in Q1 FY20. The acquisition of MRS gives the company an experienced US office with strong cross-selling opportunities and much greater market penetration.
Q1 FY20 Quarterly Cash Flow Report: The companyâs cash receipts from customers stood at NZD 2.3 million in the reported quarter, reflecting a rise of 137% in comparison to the first quarter of fiscal year 2019. It was mentioned in the release that the cash receipts included a contribution of NZD 1.7 million from the companyâs operations. The remaining amount was covered by MRS customer receipts, which were received in the 18 days after the acquisition. Cash on hand reached NZD 39.9 million at the end of Q1 F20, excluding an amount of around NZD 4.8 million of the capital raising funds as they were received in early second quarter. The company reported NZD 3 million in net cash used in operating activities, reflecting a rise of 3% from the same period a year ago.
Stock Performance: On 31 July 2019, the stock of Volpara Health Technologies Limited last traded at a price of $ 1.610 per share, down 1.829% from the previous closing price. It has a market capitalisation of $ 335.86 million and 216.99 million outstanding shares. The stock has generated returns of -3.24%, -10.74% and 52.19% for the last one month, three months and six months period, respectively.
Paradigm Biopharmaceuticals Limited
About the Company: Australia registered Paradigm Biopharmaceuticals Limited (ASX: PAR) is primarily focused on repurposing the drug, pentosan polysulphate sodium for the lead clinical indication of bone marrow edema. The company was officially listed on the Australian Stock Exchange in August 2015.
June Quarter Report: On 31 July 2019, the company released its quarterly report for the period ended 30 June 2019, reporting net cash used in operating activities of $ 2.453 million in the quarter and $ 6.365 million in FY19. Its net cash used in investing activities stood at $ 16,000 in Q4 FY19 and $ 22,000 in FY19, while net cash from financing activities reached $ 73.242 million and $ 82.777 million in Q4 FY19 and FY19, respectively. The companyâs cash and cash equivalents at the end of the quarter stood at $ 78.836 million, while for the next quarter ending September 2019, cash outflows are estimated to be $ 5.223 million.
Source: Companyâs Report
Change in Directorâs Interest: Recently, the company updated the market that Mr Christopher Maxwell Fullerton has made a change to his substantial holding in the company by acquiring 114,500 ordinary shares at a consideration of $ 169,920.
During late June 2019, the company announced to have achieved the primary endpoints in its Phase 2 double blinded placebo controlled clinical trials in Ross River virus and osteoarthritis. Adding to that, the company unveiled to be well financed with an amount of $ 78 million at the end of June 2019. Moreover, it reported to be on track concerning the filing of pre-IND meeting packages for IND (or Investigational New Drug) applications with the US Food and Drug Administration in leading indications of the Orphan Indication-Mucopolysaccharidosis and osteoarthritis.
Stock Performance: On 31 July 2019, the stock of Paradigm Biopharmaceuticals Limited last traded at a price of $ 1.480 per share, down 3.583% from its previous closing price. It has a market capitalisation of $ 295.04 million and 192.21 million outstanding shares. The stock provided returns of 12.04%, 1.99% and 34.92% for the last one month, three months and six months period, respectively.
Bio-Gene Technology Ltd
About the Company: Bio-Gene Technology Ltd (ASX: BGT) is engaged in the commercialisation and development of insecticide products, targeting opportunities in agriculture & public health. The company was listed on ASX in November 2017.
Quarterly Update: On 30 July 2019, the company updated the market with activities related to the quarter ended 30 June 2019. The company reported that its major focus over the last few months was on advancing discussions with a growing number of international companies as potential commercial partners. In the June 2019 quarter, BGT published results, which affirmed Flavocide⢠as a protectant insecticide in grain storage. In combination with pyrethrins, the company developed a flying insect killer formulation for Qcide⢠and wrapped up the product chemistry data package on Qcideâs oil in water emulsion formulation. The company further stated that it undertook additional testing on resistant mosquitoes to broaden dataset.
Cash and cash equivalents at the end of June quarter was $ 4.499 million, while for the next quarter, the company estimates cash outflows to be $ 990,000.
Half Yearly Report: In 1H FY19 ended 31 December 2018, the company was involved in discussions and engagement with numerous international companies, out of which, some inked confidentiality agreements. The Management of the company continued to work closely with these companies to facilitate this process. Bio-Gene Technology Ltd reported a loss from ordinary activities before income tax of $ 1.27 million during the first half, which represented a decline of 18.3% over the pcp, mainly owing to the costs, which are associated with the listing of the company in November 2017.
Stock Performance: On 31 July 2019, the stock of of Bio-Gene Technology Ltd last traded at a price of $ 0.140 per share, up 7.692% from its previous closing price. It has a market capitalisation of $ 16.77 million and 129.01 million outstanding shares. The stock provided returns of 47.73%, 18.18% and 8.33% for the last one month, three months and six months period, respectively.
Nanollose Limited
About the Company: Nanollose Limited (ASX: NC6) got listed on the Australian Stock Exchange in October 2017 and is engaged in the research and development of products and processes, which are related to microbial cellulose.
Quarterly Update: On 30 July 2019, the company updated the market regarding its activities during the quarter ended 30 June 2019, mentioning that it inked a microbial cellulose supply & purchase agreement with Hainan Yeguo Foods, which would enable it to obtain a consistent supply of microbial cellulose for the commercialisation and development of Tree-Free fibres. NC6 developed the worldâs first Tree-Free fibre for nonwoven applications and it got a cash rebate from the ATO amounting to $ 235,846 as part of the Federal Governmentâs R&D Tax Incentive scheme.
During the quarter, the companyâs net cash outflow in operating activities reached $ 0.372 million after settling major payments of $ 0.392 million and $ 0.113 million in research & development and administration & corporate costs, respectively. The company is primarily focused on three major commercial and developmental areas including entering a deal with a commercial fibre manufacturer, partnering with an apparel brand and securing a development partner for nonwoven fibre. During the upcoming three to six months, NC6 is planning to progress towards achieving these milestones.
Stock Performance: The stock of Nanollose Limited last traded at a price of $ 0.055 per share on 30 July 2019. It has a market capitalisation of $ 4.13 million and 75 million outstanding shares. The stock provided returns of 22.22%, -9.84% and -38.20% for the last one month, three months and six months period, respectively.
Novita Healthcare Limited
About the Company: Novita Healthcare Limited (ASX: NHL) is an Australia registered company, which is targeting attention difficulties in children via its breakthrough technology TALI. The company was officially listed on ASX in 2004.
Meaning of Attention
It Is basically an inability to stay focused on one task. This is the most commonly reported childhood difficulty. A lack of attention is closely associated with the ability to learn, social inclusion and critical to mental and general wellbeing.
Source: Companyâs Report
Quarterly Update: On 31 July 2019, NHL made an announcement regarding quarterly activities for the period ended 30 June 2019. The company unveiled the roll out of its new digital assessment tool for lack of attention in early childhood, namely Tali Detect, to the Victorian Education Department for children aged 5,6 and 7. The target age range represents nearly 200,000 children in the Victorian education system. It also reported to release results from clinical trials related to Tali Detect in September 2019.
During the quarter, the company also received 2019 American Psychiatry Association Innovation Award. Moreover, it reported that under the Tali user activation model, there are approximately 200 providers in multiple geographic regions that are engaged in delivering Tali Train, which acts as the first line intervention to existing treatments. In the last quarter of FY19, the companyâs total cash receipts stood at $ 22,000, while net operating cash outflows were $ 0.7 million. The cash balance of the company stood at $ 0.3 million at the end of the reported quarter.
Stock Performance: The stock of Novita Healthcare Limited last traded at a price of $ 0.012 per share on 24 July 2019. It has a market capitalisation of $ 5.39 million and 449.31 million outstanding shares. The stock provided returns of -14.29%, -40.00% and -57.14% for the last one month, three months and six months period, respectively.
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