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Summary
- CloudMD’s shares climbed by 9 per cent as the company announced to buy Rxi’s pharma logistic services.
- Stocks of CloudMD have gained over 342 per cent in the last six months.
- Therma Bright’s one-year return has skyrocketed by 3966 per cent, guided by its rapid COVID-19 test kit.
Canadian healthcare company CloudMD Software & Services Inc. (TSXV:DOC) is all set to acquire Rxi’s pharma logistic services that includes drug supply and patient navigation support wings. The stocks surged by nearly 9 per cent on Tuesday, boosted by the development.
Therma Bright Inc (TSXV:THRM), a medical device producer, announced on January 25 that it will retain all revenue and profits from the sale of its saliva-based rapid COVID-19 test. The shares popped up as much as 47 per cent on Tuesday. Now, the company holds all rights for its antigen rapid test’s research and development (R&D), production, retail, and regulatory.
Let us glance at these two Toronto Stock Exchange Venture (TSXV)-listed healthcare stocks’ performances:
CloudMD Software & Services Inc. (TSXV:DOC)
The telemedicine stock is up over 342 per cent in the last six months, boosted by the online drug orders. CloudMD holds a current market cap of C$ 456.5 million, with a price-to-book ratio of 9.643.
On January 22, the company completed its acquisition of Canadian Medical Directory, a directory of medical professionals, to add weight to its software-as-a-service (SaaS)-based telehealth data. With its impending acquisition of Rxi, the telehealth firm expects to improve its healthcare logistic services across the country.
CloudMD scrips have been trading actively for the last 50 days, with an average trading volume of 1.9 million. The stocks have risen 17 per cent in January 2021.
The company posted record revenue of $3.4 million n the third quarter of 2020 (ended on September 30), a sharp of 55 per cent a year ago. Its revenue from clinic services and pharmacies was C$ 2.9 million, a surge of 62 per cent from C$ 1.8 million in Q3 2019.
Therma Bright Inc. (TSXV:THRM)
Nearly 23.68 million shares of this medtech company were traded yesterday. Its one-year return has skyrocketed by 3966 per cent.
Therma Bright CEO Rob Fia stated that its rapid test’s 100 per cent acquisition of the sales and profits is a big win for its shareholders. He also said that the company has received considerable interest from health facilities in the UK, the US, and Canada.
The stock soared over 171 per cent year-to-date (YTD), driven by the developments around its rapid COVID-19 antigen test.
Therma Bright’s share has a price-to-earnings ratio of 87.65 and price-to-cashflow ratio of 1002.10. Its total listed shares outstanding are nearly 198.9 million.
