The ongoing COVID-19 turmoil has put an enormous strain on global healthcare and has disrupted businesses across the globe. This pandemic has already sent people to seek shelter at homes to stop the further virus spread. As more than millions of lives have been affected due to the coronavirus infection, it is the time governments all over the globe to vigorously take proactive actions and they have been pushing the healthcare industry to develop vaccines as much shortly as possible.
Businesses across the world are moving into high gear to help in the fight against COVID-19, offering everything from rubber gloves, sanitizers as well as ventilators to diagnostic tools and, optimistically shortly, drug/vaccines also. While the catastrophe continues to cause havoc, big companies, as well as small businesses are producing innovative solutions to stop the spread of the virus.
At the time of writing, there were more than 2.4 million confirmed COVID-19 cases and nearly 1.7 lakh deaths reported across the globe. While at present, there is too much uncertainty to be specific about outcomes, this economic tremor could cause persistent pain and possibly leave deep scars far more massive than the other post-war pandemics.
The COVID-19 pandemic has affected the world in numerous ways. Firstly, it has damaged the healthcare resources as the healthcare sector has to brace itself for many patients, some are in intensive care units (ICU), others in isolation, all mandated in the management of COVID-19 patients. This has stressed the healthcare sector infrastructure significantly.
Another way in which it has affected the health care sector is that the stress levels of all health care workers have risen. It is not just about the fear of getting infected, but various other factors such as staying away from family, different environment to stay, working shifts etc.
All the healthcare companies across the world are racing against the clock to develop an effective diagnostic device and drug/vaccine to treat COVID-19.
Despite this chaos, companies are busy posting their updates on the impact of COVID-19, moreover, two ASX listed healthcare stocks remain on track and reported positive clinical outcomes in their ongoing clinical studies.
Let us delve deep and discuss two ASX listed healthcare stocks- EMV and PNV
EMVision Medical Devices Reported Encouraging Progress in Stroke-related Brain Scan Trial
About the Company
An ASX listed Australia based medical device company EMVision Medical Devices Limited (ASX:EMV) is engaged in both the development along with commercialisation of medical imaging technology. EMVision is developing a portable, cost-effective brain scanner employing electromagnetic microwave imaging to check and detect stroke.
Stroke-related Brain Scan Trial Update
EMVision Medical Devices revealed the preliminary images from its clinical study of stroke-related brain trial. The imaging algorithm team, who received blinded data, has processed, with clinical assessment of ground truths.
Remarkably, the first set of two similar ischemic patient datasets showed very encouraging progress. These initial datasets have been reviewed extensively by the clinical advisors of the Company, including neurology and radiology specialists.
The EMV functional imaging scans magnetic resonance imaging (MRI) and computed tomography (CT) show a robust correlation with the ground truth scans for these patients. This link comprises the detection as well as localisation of brain tissue that are not normal.
Additionally, this is the first set of fully analysed data with complete clinical assessment.
On 21 April 2020, the stock price of EMV climbed up by 6.667% and closed at $6.667, with the market cap of approximately $47.74 million. The stock has nearly 63.66 million outstanding shares on ASX.
PolyNovo Limited (ASX:PNV) Publicly released Outstanding Results from NovoSorb® BTM Feasibility Study
An ASX listed healthcare sector player, PolyNovo Limited, is in the business of NovoSorb Biodegradable Temporizing Matrix (BTM) which is a dermal regeneration solution. The company designs develop and manufacture NovoSorb BTM by using its patented NovoSorb biodegradable polymer technology and, it provides solutions for Breast Sling, Hernia, and Orthopaedic applications.
NovoSorb® BTM Feasibility Study Results
On 21 April 2020, the Company publicly announced the summary of the outcomes from the BARDA funded burn clinical study.
Moreover, the Company mentioned that the summary of outcomes for the CP-002 Feasibility trial to evaluate the safety and effectiveness of NovoSorb® BTM in the cure of severe skin burn injuries are outstanding.
This feasibility study was a prospective, single-arm, multicentric, open-label, traditional study that was organised in the United States, where NovoSorb® BTM was used under IDE (Investigational Device Exemption) of Food and Drug Administration (FDA).
PolyNovo’s CEO, Mr Paul Brennan stated on the trial findings that- the outcomes are excellent and not only NovoSorb BTM has integrated well, but it has remarkably taken of the splitting skin grafts, and wounds closure. He also added-
Four New Patents Added in NovoSorb® IP Expansion
On 8 April 2020, PolyNovo revealed that the Company has received the granting of four new patents within the NovoSorb polymer family in Australia. These patents are relevant to their Hernia and Breast related devices though they also afford cover for other innovative devices that the Company is planning to develop in the near future.
Long term Intellectual Property (IP) protection permits PolyNovo the capability to create other innovative and unique products with a sustainable competitive advantage.
The four patents are-
On 21 April 2020, the stock price of PNV fell by 2.83% and ended at $2.060, with a market capitalisation of $1.4 billion. The stock has nearly 661.09 million outstanding shares on ASX.
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