- The Australian stock market closed on a higher note on Monday
- The benchmark of the ASX healthcare sector, S&P/ASX 200 Health Care, is up by 2.30% on a QTD basis
- WFL reported quarter-on-quarter cash receipts growth of 312%
The Australian stock market seems to be recovering as it closed on a higher note on Monday for a second consecutive day. The benchmark, S&P/ASX200, closed on Monday, gaining 17.90 points or 0.25% to 7,093.00.
However, the benchmark of the healthcare sector, S&P/ASX 200 Health Care, ended in the red on Monday with a loss of 0.60%. However, the index is performing well on a quarter-to-date basis with a gain of 2.30%.
This article will discuss the recent quarter updates of three ASX healthcare stocks providing 20% or more returns on a QTD basis.
Wellfully Limited, a science-based wellness company, provided 48% return to its investors on a QTD basis. The company, which is focused on developing magnetic micro-array and powerless drug delivery technologies, has reported quarter-on-quarter cash receipts growth of 312%.
Similarly, the company’s cash receipts generated from its own brands, RÉDUIT and SWISSWELL, industry collaborations have surged 205% compared to Q2 2022 and R&D subsidies.
Also, WFL is boosting commercial activities of SWISSWELL Lubricen Knee Patch through the third quarter of FY2022.
Related read: Wellfully (ASX: WFL) shares jump 7% on US registration
OncoSil Medical is involved in developing and commercialising localised radiation therapy to treat pancreatic and bile duct cancer. The company’s lead product candidate is the OncoSil localised radiation therapy.
Major highlights of the company for the March quarter:
- Approval of a fully funded trial in Germany, which will provide additional device sale revenues throughout the trial.
- Granted approval for Innovation Funding (NUB): hospitals in Germany will be provided with additional funding for treatments with the OncoSil™ device
Recent updates after the quarter ended
- First commercial treatment of the OncoSilTM device in Spain
- Commercial Agreement worth AU$553K with Hospital Universitario de Fuenlabrada in Madrid,
Shares of OSL have gained nearly 32% on a QTD basis.
Avecho Biotechnology specialises in innovative human and animal health products using its proprietary TPM® drug delivery system. The company has provided a 20% return to its investors on a QTD basis.
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Throughout the quarter, the company was committed to making progress with its cannabidiol (CBD) soft-gel capsule. It was regarding over-the-counter registration with the Therapeutic Goods Association (TGA) for an insomnia-related indication.