LCT, RGS: Biotech players trading in green amidst tumbling healthcare sector

3 min read | June 24, 2022 03:34 PM AEST | By Aditi Sarkar

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LCT, RGS: Biotech players trading in green amidst tumbling healthcare sector — Image source: © Springdt313 | Megapixl.com

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Highlights

The healthcare sector comprises stocks from diversified backgrounds, including healthcare services, healthcare equipment, pharmaceuticals, biotechnology, etc.

Last month, Living Cell Technologies (ASX:LCT) raised AU$1.285 million through a strategic placement with Alignment Capital, a boutique corporate advisory firm

Earlier this month, Regeneus' Chief Executive Officer, Karolis Rosickas, purchased over three million shares of the company worth AU$153,000.

The benchmark of the healthcare sector, S&P/ASX 200 Health Care, gained 1.97% on Thursday. The index is in the red on month-to-date, quarter-to-date, and year-to-date bases, indicating healthcare stocks are on shaky ground. The healthcare sector comprises stocks from diversified backgrounds, including healthcare services, healthcare equipment, pharmaceuticals, biotechnology, etc.

In this article, we have picked two decent biotechnology stocks from healthcare which are on a positive note this month amidst red returns. Have a look!

EODHD/Others as of 24 June

Living Cell Technologies (ASX:LCT)

Living Cell Technologies specialises in the discovery and development of novel treatments for debilitating conditions such as diabetes and Parkinson's. The company has its operations in Australia and New Zealand.

The company's product candidate is NTCELL, an alginate-coated capsule comprising clusters of neonatal porcine choroid plexus cells extracted from a unique herd of pathogen-free pigs. Choroid plexus cells are crucial for nerve cell function, nerve growth and healthy functioning.

Following are some recent updates from the company:

Shares of this biotechnology firm have jumped by nearly 16.7% this month. Similarly, on a year-to-date (YTD) basis, its shares have gained about 27.3%.

Regeneus Ltd (ASX:RGS)

Regeneus is a regenerative medicine company. It utilises stem cell technologies for developing novel cell-based therapies. It also dabbles in addressing unmet medical needs by focusing on neuropathic pain, including osteoarthritis and different skin conditions. The company's platform technologies are:

Progenza - a cellular therapy targeting pain and inflammation
Sygenus - a cell-free topical serum and gel treatment for pain and inflammation

Earlier this month, Regeneus' Chief Executive Officer, Karolis Rosickas, purchased over three million shares of the company worth AU$153,000. This safeguards the company's capital position avoiding the need for further funding to maintain and improve its existing operations.

Following are the highlights of the company for the quarter ending 31 March 2022

Secured non-dilutive loan financing of AU$4 million against Kyocera's upcoming US$3 million milestone payment
Started a partnership search process for Progenza OA in the United States, China and South Korea
Secured a new patent in China, covering cell expansion methods and therapeutic compositions for Progenza™ in China

Shares of Regeneus rose about 32.6% this month and 1.8% this quarter.

Also read: CSL, RHC, VRT: ASX healthcare stocks with sustainable returns

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