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This week, several ASX-listed healthcare stocks made headlines with notable updates. Noxopharm Ltd achieved promising results in glioblastoma treatment, Percheron Therapeutics Ltd reported encouraging data for epilepsy, and Cyclopharm Ltd recorded its first US sales for a lung-imaging tool. Echo IQ Ltd also announced significant advancements with its AI-based heart failure system.
Noxopharm Ltd (ASX:NOX)
Noxopharm Ltd has announced encouraging results from its early-stage research on a new drug for treating glioblastoma, a severe and often fatal brain cancer. Utilizing its Chroma technology platform, the company tested two drug candidates, CRO-70 and CRO-71, on patient-derived tumour explant organoids (GBOs). These GBOs maintain the natural three-dimensional structure of human brain tumors, providing a realistic testing environment.
The results demonstrated that CRO-70 and CRO-71 reduced the growth of glioblastoma explants by approximately 76% each, compared to untreated controls. The statistical significance of these results was extremely high, with a probability value of 0.0001, indicating a very low chance of these findings being due to chance. Additionally, the drugs successfully crossed the blood-brain barrier, a crucial factor for treating brain tumors.
Noxopharm received a $100,000 grant from Tour de Cure, a cancer charity, to support this research. The global glioblastoma market was valued at around $2.9 billion in 2022 and is expected to grow at an annual rate of 8.8%. Noxopharm’s positive results have driven its share price up by 19% to 12 cents, marking a 300% gain over the past year.
Percheron Therapeutics Ltd (ASX:PER)
Percheron Therapeutics Ltd has reported very promising preclinical results for its lead autoimmune epilepsy drug, avicursen (ATL-1102). In mouse models, avicursen showed a significant 66% reduction in median seizure frequency compared to a saline control. This drug targets CD49d, a receptor involved in immune cell activity, and has shown efficacy in other inflammatory conditions.
The results for autoimmune epilepsy, which constitutes a notable portion of new epilepsy cases, were highly encouraging. Despite these positive findings, Percheron’s shares remained steady at 8.5 cents.
Cyclopharm Ltd (ASX:CYC)
Cyclopharm Ltd has reported its first sales in the US for its lung-imaging tool, Technegas, totaling $250,000. This follows the FDA’s approval of Technegas, which had already been widely used in other countries. The imaging tool helps diagnose pulmonary embolisms by having patients inhale a radioactive, gas-like substance.
Despite achieving FDA approval and generating $7.46 million in overall revenue for the first half of the year, Cyclopharm faced a loss of $7.48 million, compared to a $2.66 million deficit previously. The company has also secured three years of reimbursement from US public health insurers, adding significant value to its market presence. Shares of Cyclopharm increased by 2.9% to $1.42.
Echo IQ Ltd (ASX:EIQ)
Echo IQ Ltd has revealed impressive results from two clinical studies involving its AI-based Heart Failure System. Conducted in partnership with St Vincent’s Institute of Medical Research and the University of Notre Dame in Fremantle, the studies showed that the system detected 86% of heart failure cases, significantly outperforming the 46% detection rate of current standard practices. The combination of AI and clinical evaluation improved diagnosis accuracy to 97% for high-risk individuals.
Following the disclosure of these results, Echo IQ's share price surged 11% to 17 cents. The results were previously highlighted at a European Society of Cardiology event as a late-breaking presentation.
These developments showcase the dynamic advancements and market responses within the biotech and healthcare sector on the ASX.
