- Uscom has obtained Therapeutic Goods Administration (TGA) clearance for its two new haemodynamic monitoring devices.
- Little Green Pharma has received an additional purchase order (PO) from German pharmaceutical wholesaler DEMECAN.
- Volpara Health Technologies reported record revenue growth for the financial year 2021.
Three ASX-listed healthcare shares - Uscom Limited (ASX:UCM), Little Green Pharma Ltd (ASX:LGP), and Volpara Health Technologies Limited (ASX:VHT) – ended the day’s session on a high following important announcements.
ASX 200 was up marginally at 7094.90. UCM, LGP and VHT were some of the stocks that ended in green with share price increase of 3.225%, 12.295%, and 4.399%, respectively.
Let us now delve deep and discuss the updates of UCM, LGP, VHT-
USCOM Monitors obtain TGA green light
On 27 May 2021, Uscom notified the market that the Company had received Therapeutic Goods Administration (TGA) approval for its two new haemodynamic monitoring devices. The Company highlighted that the TGA clearance was for the USCOM O2 and USCOM Basic monitors, which are the specialised forms of the USCOM 1A non-invasive ultrasound Doppler hemodynamic monitor.
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Uscom disclosed that the USCOM 1A would continue as the lead device of the series, while the two monitors USCOM O2 and USCOM Basic are anticipated to deliver new sales revenue.
Professor Rob Phillips, Executive Chairman of Uscom, commented-
Little Green Pharma receives additional PO from DEMECAN
Little Green Pharma has announced that the firm has received additional purchase order (PO) for ~21,300 units of its high-THC (Tetrahydrocannabinol) medicinal cannabis flower medicine from a German pharmaceutical wholesaler Deutsche Medizinalcannabis GmbH (DEMECAN). The new PO is valued at AU$2.5 million and represents approximately 320kg of flower for delivery during the quarter ending 31 December 2021.
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Fleta Solomon, Managing Director of LGP, commented:
The Company highlighted that this is the fourth PO received from DEMECAN, following previous quarterly orders of 500, 9K, and 17K units for delivery in the first, second, and third quarter of CY21, respectively. Furthermore, DEMECAN has now ordered almost 47,800 units of LGP medicines which would bring the total revenue to ~AU$5.7 million for CY21 from DEMECAN alone.
Volpara Health witnessed 57% revenue growth in FY21
On 27 May 2021, Volpara Health Technologies updated the market that the Company has released its full-year results for the financial year ended 31 March 2021. During FY21, the Company made significant investments in product development and technology.
Key operational highlights:
- CRA Health acquisition was the most significant achievement for FY21. The acquisition to expand the best-in-class personalised risk offerings of the Company to all customers.
- Improved EQUIP compliance reporting by using the TruPGMI image quality evaluation method.
- The clinical decision-making software of VHT continues to roll out with customer buy-in.
Key financial highlights:
- During FY21, the revenue of VHT was reported at NZ$19.75 million, up by 57% year on year.
- The subscription revenues increased by 99%.
- The Company recorded a gross profit of NZ$18.1 million.
Dr Ralph Highnam, CEO and Chief Scientist of Volpara, commented: