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Highlights
- Argenica successfully completed a placement of AU$5.5million last month
- Recently, Neurotech reported encouraging results from the study of NTI164 regarding its tolerability, safety, and efficacy
- Oncosil made two important announcements this month regarding its OncoSilTM device
The S&P/ASX200 closed on Wednesday on a good note gaining 15.90 points or 0.23% to 6,823.20 and setting a new 20-day high. The index has lost more than 8% in the last 52 weeks.
Aligning with ASX 200, the benchmark of the healthcare sector, S&P/ASX200 Health Care also closed on Wednesday with a gain of 1.19%. However, the index has been down by about 7% in the last 52 weeks.
On this note, we will discuss three penny stocks from the healthcare sector that have outperformed the index and have achieved significant gains in the last 52 weeks.
Argenica Therapeutics Ltd (ASX:AGN)
Argenica Therapeutics is an ASX-listed firm involved in development of pre-clinical drugs. It is developing novel neuroprotective therapeutics for reducing brain damage after stroke. The company’s lead candidate is ARG-007, having neuroprotective properties.
Last month, the company successfully completed a placement of AU$5.5million (before costs). It will use funds from the placement to research additional applications of ARG-007 beyond stroke. It will allow the company to expedite its pre-clinical activities in other applications, including traumatic brain injury (TBI) and progress its preparatory work needed for a Phase 2 trial in stroke patients.
Neurotech International Ltd (ASX:NTI)
Neurotech is a neurological solutions company. The biopharmaceutical firm is currently focused on a world-first clinical study leveraging NTI164 in curing paediatric autism spectrum disorder (ASD).A medical cannabis product NTI164 is one of the proprietary cannabis strains of the firm.
Recently, the company reported encouraging results from the study of NTI164 regarding the tolerability, safety, and efficacy of NTI164 on major behavioural factors that affect patients with Autism Spectrum Disorder (ASD). The study demonstrated that 93% of patients recovered from the severity of illness after regular treatment with NTI164 for 28 days.
Oncosil Medical Ltd (ASX:OSL)
Oncosil is a medical device company. OncoSil™, the lead product of the company, is a targeted radioactive isotope (Phosphorus-32). It is implanted into the pancreatic tumours of a patient via an endoscopic ultrasound.
This month, Oncosil made some important announcements. Let us have a look
