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Highlights:
The S&P/ASX200 healthcare index is up 9.87% in one year, as of Friday, 12 May 2023, at 3:01 pm AEST. However, there are two healthcare companies- Neuren Pharmaceuticals Limited (ASX:NEU) and Telix Pharmaceuticals Limited (ASX:TLX), which have surpassed the index by rising 297% and 217.7%, respectively.
Let’s find out the reasons behind the one-year rise of these 2 ASX200 healthcare stocks- NEU and TLX.
Neuren Pharmaceuticals Limited (ASX: NEU)
The developer of new drug therapies to treat several serious neurological disorders increased by 5.086% and was trading at AU$14.050 on Friday, at 3:01 pm AEST. The stock has risen 297% in one year and 77% on a YTD basis.
In its 1Q 2023 activity report ended 31 March, NEU’s North American partner Acadia Pharmaceuticals (NASDAQ:ACAD) secured the FDA’s consent for DAYBUETM (trofinetide) to treat Rett syndrome, on 10 March this year. On 17 April, it was introduced in the USA by Acadia, and NEU earned US$40 million on its initial commercial sale. Further, the partnering procedure for trofinetide is progressing in the North American region.
In 1Q 2023, patients’ enrolment and treatment continued in phase 2 clinical trials of its drug candidate NNZ-2591 in syndromes like Phelan-McDermid, Pitt Hopkins and Angelman. The initial top-line results are likely to come in the fourth quarter of 2023 for Phelan-McDermid syndrome. In the beginning of this year, NEU gained FDA’s consent to progress with a phase 2 trial in kids suffering from Prader-Willi syndrome.
Telix Pharmaceuticals Limited (ASX: TLX)
Melbourne headquartered biopharmaceutical company focuses on the development and commercialisation of diagnostics and therapeutic radiopharmaceuticals. On Friday, the stock slipped by 0.176% and was trading at AU$11.280 on Friday 3:02 pm AEST. In the last one year, the stock has grown 217.7%, and on a YTD basis, it is up 55%.
In its 1Q 2023 quarterly report ended 31 March 2023, TLX’s total revenue was at AU$100.1 million, increasing from AU$3.7 million in pcp. Net operating cash inflow stood at AU$2.4 million, reflecting improvement of AU$0.8 million from the previous quarter. In the reported period, cash receipts from customers were noted at AU$83.2 million, increasing 15% compared to the prior quarter. On 31 March, TLX’s cash balance was at AU$121.4 million.
Further, the average daily dose demand for Illuccix rose steadily across the quarter period. Revenue from U.S. sales of Illucix increased 27% to AU$97.5 million from the previous quarter. Further, TLX had been advancing marketing authorisations for Illuccix in numerous jurisdictions, this past quarter period, primarily focusing on the UK and EU regions.
