Know these ASX healthcare penny stocks

Highlights

• Clarity Pharmaceuticals has gained IND (Investigational New Drug) approval from the Food and Drug Administration (FDA) in the US for a theranostic SAR-Bombesin trial in prostate cancer.
• During the September quarter, Imricor raised AU$2.92 million from US investors through an ‘oversubscribed’ placement.

The S&P/ASX 200 Health Care is the benchmark of the healthcare sector and sub-industries. As of 14 December 2022, the index is down by around 0.83% on a month-to-date (mtd) basis, however, it has gained nearly 5.7% on a quarter-to-date (qtd) basis.

With this backdrop, we at Kalkine Media® will discuss some healthcare penny stocks from the Australian Stock Exchange (ASX) and their latest updates.

Clarity Pharmaceuticals Ltd (ASX:CU6)

Clarity Pharmaceuticals, which is an Australia-based clinical-stage radiopharmaceutical firm, has gained IND (Investigational New Drug) approval from the Food and Drug Administration (FDA) in the US regarding a theranostic (therapeutics + diagnostics) SAR-Bombesin trial in prostate cancer. 

SAR-Bombesin, a radiopharmaceutical, has a wide-spanning application range in cancer. It is a Targeted Copper Theranostic (TCT) and can be used with the copper isotopes of

• copper-64 (Cu-64 or 64Cu) for imaging purposes, and
• copper-67 (Cu-67 or 67Cu) for therapy purposes

The said IND is regarding the evaluation of a SAR-Bombesin product for identifying and treating metastatic castrate-resistant prostate cancer (mCRPC).

Imricor Medical Systems Inc (ASX:IMR)

Imricor boasts specialisation in real time interventional cardiac magnetic resonance (iCMR) cardiac ablations – that is, real-time MRI-guided cardiac ablations and not guided by conventional x-ray fluoroscopy.

© 2022 Kalkine Media®, Image source: © Rob3000 | Megapixl.com

Imricor says it is the only company worldwide offering consumable devices compatible with MRI, such as single-use ablation catheters, needed to conduct cardiac ablations in iCMR labs.

During Q3 FY22, Imricor submitted an application for approval to start a real-time iCMR-guided ventricular tachycardia (VT) clinical study in Europe.

The company completed the development of the initial prototype of the NorthStar-MR 3D Mapping System and is set to deploy Siemens systems pending customer feedback and the product’s validation. This would mean the company would no longer depend on MRI manufacturers to develop and commercialise its systems, as per the company update.

Further, it raised AU$2.92 million from US investors through an ‘oversubscribed’ placement.

NeuroScientific Biopharmaceuticals Ltd (ASX:NSB)

Image source: © Akesin | Megapixl.com

NeuroScientific is a developer of peptide-based pharmaceutical drugs. The company is targeting many neurodegenerative conditions with high unmet medical demand.

Recently, NeuroScientific received advanced and overseas research and development (R&D) funding for the multiple sclerosis program. The company will be enjoying R&D Tax Incentive rebates of up to AU$1.62 million for R&D expenditure.

Early in the September quarter, the company said it had submitted the application for the Human Research Ethics Committee (HREC) review of the Phase I clinical trial of the lead drug candidate, EmtinBTM, which it plans to run in Australia. 

Living Cell Technologies Ltd (ASX:LCT)

Living Cell Technologies, which is an Australasian biotech company, deals in discovering and developing novel treatments for such debilitating conditions as diabetes and Parkinson’s. The highlights for the company for the September quarter are:

• Shipment of the Choroid Plexus tissue to Sydney, Australia, from NZeno’s Invercargill facility after import approval.
• LCT and OptiCellAI have accomplished the first stage of advancing the use of AI in the planned production of NTCELL in Australia.

© 2022 Kalkine Media®, data: Company update dated 28 Oct 2022

• The company wrapped up the quarter with a bank balance of AU$3.7 million – a good cash position as per the company.