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Highlights
- Zelira’s product Zenivol got approval in Germany
- In FY22, Compumedics witnessed a 29% increase in sales orders compared to FY21
- Recently, Mach7 renewed a contract with a US-based company worth AU$2.8 million
The S&P/ASX200 is low on Friday, shedding 57.20 points or 0.86% to 6,593.40. The index has lost 1.27% over the last five days and 10.12% over the last 52 weeks.
The S&P/ASX 200 Health Care, the benchmark of the healthcare sector of the ASX, has demonstrated an upward trend this week. The index has gained nearly 8.04% this month to date (MTD), but it has lost almost 5.32% this year to date.
This article will discuss ZLD, CMP and M7T- three stocks from ASX healthcare that have gained significant value this week:
Zelira Therapeutics Ltd (ASX:ZLD)
Zelira is a biopharmaceutical company based on cannabis. The company’s product Zenivol, based on cannabinoids, is a medication against chronic insomnia.
Shares of ZLD are up nearly 122.8% this week to date. On Wednesday, the company made a significant announcement regarding the approval of Zenivol in Germany through its commercial partner in the country, Adjupharm GmbH. The company has a five-year exclusive distribution agreement with Adjupharm.
It is a major milestone for the company as it marks its entry into one of the globe’s biggest cannabinoid-based medicines market. According to Zelira’s managing director, the company is advancing its activities to license Zenivol in other global markets.
Compumedics Ltd (ASX:CMP)
Image source: © Sudok1 | Megapixl.com
Compumedics is a medical device company specialising in diagnostic technology for different monitoring applications. It has a footprint across other countries and regions, including Australia, Europe, the Americas, and Asia.
The stock value of CMP has gained about 31.3% this week to date.
Recently, the company provided a business update for FY21. The major highlights are:
- A 29% increase in sales order compared to FY21
- A 4% surge in unaudited revenues
- AU$6.8 million increments in cash on hand compared to previous year
Mach7 Technologies Ltd (ASX:M7T)
Mach7 Technologies offers medical imaging systems to healthcare institutions. Recently, the company received renewal contracts from Cabell Huntington Hospital in Huntington, West Virginia. It is for five years, and the total value is AU$2.8 million. It also includes an annual recurring revenue of AU$562,732.
The agreement converts the capital term licence agreement to a subscription-based agreement, upon which, the company’s CEO said that the conversion demonstrated a developing trend in the company’s business model.
Mach7 has provided about a 16.2% return to its investors this week to date.
