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Highlights
- The S&P/ASX200 closed on Wednesday, tumbling by 106.20 points or 1.56%.
- The benchmark of the ASX healthcare sector, S&P/ASX 200 Health Care is up by 2.53% this quarter-to-date.
- Cronos reported an EBITDA growth of 390% during FY22.
S&P/ASX200 closed steeply lower on Wednesday, tumbling 106.20 points or 1.56% to 6,700.20. The index has lost 2.09% over the last five days and 8.18% over the last 52 weeks. On a quarter-to-date (qtd) basis (21 Sep 2022), the index has gained 2.01%. The benchmark of ASX healthcare sector, S&P/ASX 200 Health Care also closed on Wednesday, plummeting by 0.95%. Over the last 52-weeks, the index has lost -14.41% but is green this qtd by 2.53%.
With this backdrop, we at Kalkine Media® will discuss some of the stocks from the ASX healthcare sector that have provided more than 35% price returns this quarter-to-date.
Cronos Australia Ltd (ASX:CAU)
Cronos, an ASX-listed medical cannabis company, recently announced a dividend of AU$ 0.010 for FY22. Following are the financial highlights of Cronos during the reporting period
- 208% growth in revenue
- 282% growth in gross profit
- EBITDA growth of 390%
- A surge of 324% in Net Profit After Tax
- 673% increment in cash at bank
Osteopore Ltd (ASX:OSX)
Osteopore, operating in more than 20 countries, specialises in regenerative solutions. The company is commercialising various tailored products, particularly designed to aid bone healing across different therapeutic areas.
In the half year ended 30 June 2022, Osteopore reported a 32% rise in revenue from ordinary activities. Though, the firm sustained a loss after tax of AU$1.98 million. The company attributes this loss to a rise in operational and marketing costs. The company is pursuing global strategy to penetrate new markets.
Living Cell Technologies Ltd (ASX:LCT)
During FY22, the company conducted a AU$3.5 million placement to sophisticated investors. The company stated a loss after income tax from continuing operations of AU$1.9 million for the financial year.
Last month, Hera Med completed a private placement of AU$4 million. The company will utilise the money to fund extra early commercialisation programmes.
In the half year ended 30 June 2022, the company recorded revenues of US$139,995 and a gross profit margin of US$80,825. However, after providing for income tax, the consolidated loss of the Group amounted to US$3.15 million.
Compumedics Ltd (ASX:CMP)
Compumedics is an ASX-listed medical device company. It is into the development, production, and commercialisation of diagnostic technologies related to monitoring of ultrasonic blood flow, sleep, and brain.
Below are the focal point of the company for FY22
- 6% surge in revenues from shipped and invoiced sales
- EBITDA rose to AU$3.3 million compared to AU$2.6 million for FY21
- NPAT of AU$1.4 million compared to AU$1.0 million of FY21
- Sales orders growth of 29%
Medlab Clinical Ltd (ASX:MDC)
Medlab, an ASX-listed biotechnology firm. The company is developing therapeutics by using its proprietary, next-generation delivery platform, NanoCelle®. The company’s patented lead drug candidate is NanaBis™.
Recently, the company received required regulatory approvals (human research ethics and clinical trial registration) for conducting observational clinical trials of NanaBis™ and NanoCBD™ to collect data on side effects and treatment success over a long period of time.
Hera Med Ltd (ASX:HMD)
Hera Med aspires to bring transformation in pregnancy care. It is into the digital transformation of pregnancy care. The ASX-listed firm is developing a lineup of innovative connected pregnancy monitoring solutions that can be used at home.
INOVIQ Ltd (ASX:IIQ)
Inoviq is developing and commercialising products meant to enhance the diagnosis and treatment of cancer and other diseases. The company’s commercial products are the HTERT test and the EXO-NET pan-exosome capture tool.
The company’s FY22 revenue from ordinary activities dropped by 41%.During the reporting period, the company raised AU$18.4 million from a Placement and Share Purchase Plan. It would use the funds in SubB2M and NETs program.
Actinogen Medical Ltd (ASX:ACW)
Actinogen is developing a novel therapy for neurological diseases linked to dysregulated brain cortisol. Currently, the company is developing its lead compound Xanamem® for various neurological diseases.
Echo IQ Ltd (ASX:EIQ)
Echo IQ is an ASX-listed Healthtech firm. It specialises in artificial intelligence and medical technology. Last month, the company presented its pioneering research on the algorithm for aortic stenosis at a world-renowned cardiology conference.
During FY22, the company’s revenue declined by 19%, whereas its net profit declined by 106%. In July, the company entered a study agreement with Beth Israel Deaconess Medical Center, a Harvard Medical School teaching hospital, to conduct a study evaluating the Echo IQ AI algorithm in a US clinical setting.
