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Highlights
ResMed's Recovery: ResMed shares surged following strong quarterly results, rebounding from prior declines attributed to concerns over anti-obesity drugs.
Dimerix's Kidney Trial Update: Dimerix may receive favorable news regarding surrogate endpoints for its pivotal phase III kidney disease trial, as confirmed by a key working group.
Imagion's Phase II Trial Preparation: Imagion Biosystems is advancing toward a phase II breast cancer imaging trial with funding from a recent capital raise.
ResMed (ASX:RMD) has experienced a notable recovery in its share price following robust quarterly results for September, which revealed an 11% increase in revenue to $1.224 billion and a 35% rise in earnings to $325.4 million. The company's previous decline was largely linked to fears surrounding the impact of Ozempic-class anti-obesity drugs on demand for its CPAP devices used in sleep apnea treatment. Analysts at Wilsons suggest that the stock has merely recaptured value that was unjustly lost during this period of concern, highlighting the consistent performance across its sleep health and residential care software divisions.
In contrast, broker Citi has flagged potential medium to long-term risks posed by GLP-1 medications but acknowledged the current strong operating performance. A significant competitive threat remains with rival Philips (Respironics) expected to return to the market after recalling a substantial number of CPAP units.
Dimerix is receiving promising feedback regarding its pivotal phase III trial for focal segment glomerulosclerosis (FSGS), as the Parasol working group identified a strong correlation between improved estimated glomerular filtration rates (eGFR) and reduced risks of end-stage kidney disease. The FDA representatives involved in the workshop supported the inclusion of proteinuria levels as an acceptable surrogate endpoint. Dimerix is progressing well in its trial, having randomized 129 patients and planning to release interim analysis results in mid-2025.
Imagion Biosystems is gearing up for a phase II study of its Magsense molecular imaging technology for detecting Her2-positive breast cancer. The company has secured funding through a capital raising initiative, which will also support the Investigational New Drug (IND) application process for other imaging agents targeting prostate and ovarian cancers. Despite facing financial constraints, Imagion continues to implement cost-cutting measures to enhance its operational viability.
