logo
ASX health stocks deliver March quarter progress

ASX health stocks deliver March quarter progress

Mercury24-04-2025

Don't miss out on the headlines from Stockhead. Followed categories will be added to My News.
ASX quarterly season is upon us again, with listed companies opening a window to their performance and key activities over the three months to March 31.
It's a key time for investors to zero in on the finer details of ASX-listed firms and get a sense of what is on the horizon.
Here, we wrap up report highlights from four standout stocks in the ASX health sector.
Imricor submitted second module for premarket approval of its products to US FDA during quarter
Second -generation Vision-MR Ablation Catheter receives CE mark certification under new European Medical Device Regulation
After quarter end Imricor started its VISABL-VT pivotal trial at Amsterdam University Medical Centre achieving world-firsts
Imricor, which has developed the world's only MRI-compatible devices for cardiac ablations, made several regulatory achievements during Q1 CY25 including submitting the second module for premarket approval of its products to the US Food and Drug Administration (FDA).
Among other highlights of a milestone quarter for the company, IMR received CE Mark approval for its second generation Vision-MR Ablation Catheter under the new more stringent European Medical Device Regulation (MDR).
Subsequent to quarter end, Imricor started its VISABL-VT pivotal trial at Amsterdam University Medical Centre, achieving the first-in-human ventricular ablation guided by real-time iCMR.
On the commercial front, the company is rebuilding its European sales team with the first capital sales managers in the US hired in preparation for commercial launch.
Imricor B.V. was established in the Netherlands with the company opening an office in Amsterdam. The company also attended the Gulf Arrhythmia Congress in Dubai and EHRA Congress in Vienna.
Imricor finished Q1 FY25 with a strong cash position following a $70 million capital raising, closing with a cash balance of US$53.9m (~A$85.5m).
Race's lead site of Southside Cancer Centre in NSW for phase I trial of RC220 in combination with doxorubicin receives ethics and regulatory approval
Screening of patients underway at centre with treatment of first patient scheduled for this quarter
Human ethics approval also received to start trial at Gosford and Wyong hospitals in New South Wales
Race made significant progress in Q3 FY25 towards first patient treatment in its phase I trial of its cardioprotective therapeutic RC220 in combination with doxorubicin in patients with advanced solid tumours.
Ethics and all regulatory approvals were received for the lead site of Southside Cancer Care Centre, in Miranda NSW enabling recruitment of patients.
Screening of patients has begun and the treatment of the first patient with RC220 is expected in the current quarter.
Human ethics approval was also received to begin the trial at the Gosford and Wyong Hospitals, in the Central Coast Local Health District of NSW.
Race said ethics approval allowed both the Gosford and Wyong Hospitals to enrol patients subject to final site approvals and activation. Final approvals are expected during April.
As of March 31, 2025, Race held cash and cash equivalents of $17.12m. The company said more than 70% of spending during Q3 ($1.67m) was directed toward R&D and drug manufacturing activities.
"Like everyone at Race, I am looking forward to seeing the first patient treated with RC220 in this quarter and converting RC220's potential into meaningful outcomes for cancer patients and our shareholders," CEO Dr Daniel Tillett said.
Clever Culture Systems targeting profitability in FY25 and building a substantial sales pipeline to underpin growth in FY26
Sales pipeline for APAS Independence Instruments exceeds 40 qualified customer opportunities in pharmaceutical market
Company's APAS Independence instruments remain the only US FDA-cleared AI technology for automated culture plate reading
Clever Culture CEO and managing director Brent Barnes said just over 12 months since its launched its APAS (automated plate assessment system) Independence instruments (culture plate readers) in the pharmaceutical market, the response had been "overwhelmingly positive" as it targets FY25 profitability.
The company has 13 instruments sold or pre-ordered to date, representing ~$6m in revenue. That will set a base for future recurring revenue from licence fees and maintenance support.
In a trading update, Clever Culture said it was building a substantial sales pipeline to underpin FY26 growth with 40 active and qualified customer opportunities within the pharmaceutical industry, representing ~$75m in potential upfront sales revenue and $15m per annum recurring revenue.
The company's APAS Independence instruments remain the only US FDA-cleared AI technology for automated culture plate reading.
A second purchase order has been received from an additional Bristol Myers Squibb (BMS) facility, which is expected to form a case study for the potential roll out to other BMS sites.
Another big-pharma was completing an expanded 6000 plate evaluation, clearing the way for procurement discussions direct with their manufacturing sites.
The company said active engagement with potential customers had accelerated noticeably since it announced the planned launch of a second APAS analysis module for analysis of the smaller contact plates (55mm) in October 2024.
Combined with the existing APAS analysis module for the settle plates (90mm), the APAS Independence will be able to analyse the two plate types that make up the vast majority of tests used by pharmaceutical manufacturers in environmental monitoring.
"Our strategy has been to target global pharmaceutical manufacturers that operate multiple sites globally and represent multi-instrument sales opportunities," Barnes said.
Over the past three months the APAS Independence Instruments had been showcased at several leading international conferences.
EZZ launches two new products during Q3 FY25 and upgrades formulas and packaging of three of its top sellers
Company progresses strategic entry to US market with planned entry targeted for H2 FY25
EZZ serves up an ace with its inaugural sponsorship of the Australian Open in January covering China and Southeast Asia
Genomic life sciences company EZZ successfully launched two new products during Q3 FY25, which it said leveraged consumer insights to meet evolving market trends and enhance the company's competitive positioning.
EZZ also upgraded the formulas and packaging of three of its top selling products and strengthened domestic distribution by securing listings in ~70 new retail pharmacy distribution points in Australia.
The company also progressed its strategic entry into the US market through comprehensive market research, collaboration with key local partners, and the development of a phased market entry plan targeted for H2 FY25.
One of the highlights of Q3 was EZZ's elevated brand awareness, with the company serving an ace in its inaugural sponsorship of the Australian Open in January covering China and Southeast Asia, including influencer-hosted livestreams and content creation.
EZZ said the campaign, it biggest marketing venture to date, delivered strong visibility across China and Southeast Asia, supported by prominent on-court branding.
Meanwhile, the company continued to strengthen its brand positioning and consumer engagement on leading e-commerce platforms and initiated new customer loyalty initiatives to drive long-term growth in China.
The company also reinforced industry presence and global networking through participation in the Cosmoprof Worldwide Bologna and the Australian Pharmacy Professional (APP) Conference nd Trade Exhibition, both held in March.
Receipts from customers totalled $14.6m during Q3, which EZZ said reflected lower seasonal turnover in January and February compared to PCP, partly due to reduced digital advertising spend.
The company said strong operating performance resulted in $1.5m of positive cash inflow. Cash reserves reached a record $21.1 million as at March 31 2025, with EZZ remaining debt-free, excluding lease liabilities.
At Stockhead, we tell it like it is. While Imricor Medical Systems, Race Oncology, Clever Culture Systems and EZZ Life Science are Stockhead advertisers, they did not sponsor this article.
Originally published as ASX Quarterly Health Wrap: Imricor starts CY25 strong, Clever Culture eyes FY25 profit

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Path to going public on markets sped up for companies
Path to going public on markets sped up for companies

The Advertiser

time33 minutes ago

  • The Advertiser

Path to going public on markets sped up for companies

Companies wanting to list on the stock market will be given a fast track by the corporate watchdog to go public. Changes put forward by the Australian Securities and Investment Commission will mean companies could reduce the time needed in order to take a company public by one week. The watchdog will now work with companies two weeks before documents laying out details about an initial public offering are made available to the public. ASIC says it will lessen the risk of potential investors being scared off by volatile markets. The changes are being rolled out as part of a two-year trial to reverse a decline in companies going public on the Australian market. The number of companies going public hit a 20-year low in 2024, with just 29 initial public offerings on the ASX. That compares with the 240 new listings on the ASX in 2021. Commission chair Joe Longo said the changes would provide greater confidence in the stock market. "Creating a more streamlined IPO process underscores our commitment to ensuring our public markets remain attractive to companies and investors," he said. "Greater deal certainty for companies should help deliver more IPOs, which means more investment opportunities so companies can expand, increase jobs and ultimately economic growth." The changes are being announced ahead of a symposium being held by the commission on Tuesday in Sydney about the future of Australia's markets. A discussion paper put out by the commission in February said the number of publicly listed companies had been declining in many developed markets over decades. "The Australian market is concentrated, with most companies in the financials and mining sectors, and less represented in sectors that will drive growth in our increasingly digital future," the paper said. "Many companies are choosing to stay private where new funding and sell downs are now more accessible, while others are choosing to list in the United States." Mr Longo said further reforms were being considered to boost the number of new listings. "While we do not see regulatory settings as the silver bullet, we have received lots of ideas and are considering further regulatory adjustments to support a strong and well-functioning market," he said. Companies wanting to list on the stock market will be given a fast track by the corporate watchdog to go public. Changes put forward by the Australian Securities and Investment Commission will mean companies could reduce the time needed in order to take a company public by one week. The watchdog will now work with companies two weeks before documents laying out details about an initial public offering are made available to the public. ASIC says it will lessen the risk of potential investors being scared off by volatile markets. The changes are being rolled out as part of a two-year trial to reverse a decline in companies going public on the Australian market. The number of companies going public hit a 20-year low in 2024, with just 29 initial public offerings on the ASX. That compares with the 240 new listings on the ASX in 2021. Commission chair Joe Longo said the changes would provide greater confidence in the stock market. "Creating a more streamlined IPO process underscores our commitment to ensuring our public markets remain attractive to companies and investors," he said. "Greater deal certainty for companies should help deliver more IPOs, which means more investment opportunities so companies can expand, increase jobs and ultimately economic growth." The changes are being announced ahead of a symposium being held by the commission on Tuesday in Sydney about the future of Australia's markets. A discussion paper put out by the commission in February said the number of publicly listed companies had been declining in many developed markets over decades. "The Australian market is concentrated, with most companies in the financials and mining sectors, and less represented in sectors that will drive growth in our increasingly digital future," the paper said. "Many companies are choosing to stay private where new funding and sell downs are now more accessible, while others are choosing to list in the United States." Mr Longo said further reforms were being considered to boost the number of new listings. "While we do not see regulatory settings as the silver bullet, we have received lots of ideas and are considering further regulatory adjustments to support a strong and well-functioning market," he said. Companies wanting to list on the stock market will be given a fast track by the corporate watchdog to go public. Changes put forward by the Australian Securities and Investment Commission will mean companies could reduce the time needed in order to take a company public by one week. The watchdog will now work with companies two weeks before documents laying out details about an initial public offering are made available to the public. ASIC says it will lessen the risk of potential investors being scared off by volatile markets. The changes are being rolled out as part of a two-year trial to reverse a decline in companies going public on the Australian market. The number of companies going public hit a 20-year low in 2024, with just 29 initial public offerings on the ASX. That compares with the 240 new listings on the ASX in 2021. Commission chair Joe Longo said the changes would provide greater confidence in the stock market. "Creating a more streamlined IPO process underscores our commitment to ensuring our public markets remain attractive to companies and investors," he said. "Greater deal certainty for companies should help deliver more IPOs, which means more investment opportunities so companies can expand, increase jobs and ultimately economic growth." The changes are being announced ahead of a symposium being held by the commission on Tuesday in Sydney about the future of Australia's markets. A discussion paper put out by the commission in February said the number of publicly listed companies had been declining in many developed markets over decades. "The Australian market is concentrated, with most companies in the financials and mining sectors, and less represented in sectors that will drive growth in our increasingly digital future," the paper said. "Many companies are choosing to stay private where new funding and sell downs are now more accessible, while others are choosing to list in the United States." Mr Longo said further reforms were being considered to boost the number of new listings. "While we do not see regulatory settings as the silver bullet, we have received lots of ideas and are considering further regulatory adjustments to support a strong and well-functioning market," he said. Companies wanting to list on the stock market will be given a fast track by the corporate watchdog to go public. Changes put forward by the Australian Securities and Investment Commission will mean companies could reduce the time needed in order to take a company public by one week. The watchdog will now work with companies two weeks before documents laying out details about an initial public offering are made available to the public. ASIC says it will lessen the risk of potential investors being scared off by volatile markets. The changes are being rolled out as part of a two-year trial to reverse a decline in companies going public on the Australian market. The number of companies going public hit a 20-year low in 2024, with just 29 initial public offerings on the ASX. That compares with the 240 new listings on the ASX in 2021. Commission chair Joe Longo said the changes would provide greater confidence in the stock market. "Creating a more streamlined IPO process underscores our commitment to ensuring our public markets remain attractive to companies and investors," he said. "Greater deal certainty for companies should help deliver more IPOs, which means more investment opportunities so companies can expand, increase jobs and ultimately economic growth." The changes are being announced ahead of a symposium being held by the commission on Tuesday in Sydney about the future of Australia's markets. A discussion paper put out by the commission in February said the number of publicly listed companies had been declining in many developed markets over decades. "The Australian market is concentrated, with most companies in the financials and mining sectors, and less represented in sectors that will drive growth in our increasingly digital future," the paper said. "Many companies are choosing to stay private where new funding and sell downs are now more accessible, while others are choosing to list in the United States." Mr Longo said further reforms were being considered to boost the number of new listings. "While we do not see regulatory settings as the silver bullet, we have received lots of ideas and are considering further regulatory adjustments to support a strong and well-functioning market," he said.

ASX set to rise, Wall Street boosted by US-China talks; $A stronger
ASX set to rise, Wall Street boosted by US-China talks; $A stronger

The Age

time2 hours ago

  • The Age

ASX set to rise, Wall Street boosted by US-China talks; $A stronger

US stocks are drifting closer to their records as the world's two largest economies begin talks on trade that could help avoid a recession. The S&P 500 was 0.3 per cent higher in late trading. The Dow Jones was up 93 points, or 0.2 per cent, with an hour remaining in trading, and the Nasdaq composite was 0.5 per cent higher. The Australian sharemarket is set to advance, with futures at 5am AEST pointing to a gain of 16 points, or 0.2 per cent, at the open. The ASX was closed on Monday for the King's birthday public holiday. The Australian dollar strengthened. It was 0.3 per cent higher at 65.25 US cents at 5.13am AEST. Officials from the United States and China are meeting in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each's punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue. Hopes that President Donald Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20 per cent from its record two months ago. It's back within 2 per cent of its all-time high, which was set in February, and it's higher than it was before Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called 'Liberation Day.' This may be the shortest sell-off following a shock of heightened volatility on record, according to Parag Thatte, Binky Chadha and other strategists at Deutsche Bank. Typically, stocks take around two months to bottom following a spike in volatility and then another four to five months to recover their losses. This time around, stocks have basically made a round trip in less than two months. But nothing is assured, of course, and that helped keep trading relatively quiet on Wall Street Monday. Loading Some of the market's biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.4 per cent after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 1.6 per cent after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion.

ASX set to rise, Wall Street boosted by US-China talks; $A stronger
ASX set to rise, Wall Street boosted by US-China talks; $A stronger

Sydney Morning Herald

time2 hours ago

  • Sydney Morning Herald

ASX set to rise, Wall Street boosted by US-China talks; $A stronger

US stocks are drifting closer to their records as the world's two largest economies begin talks on trade that could help avoid a recession. The S&P 500 was 0.3 per cent higher in late trading. The Dow Jones was up 93 points, or 0.2 per cent, with an hour remaining in trading, and the Nasdaq composite was 0.5 per cent higher. The Australian sharemarket is set to advance, with futures at 5am AEST pointing to a gain of 16 points, or 0.2 per cent, at the open. The ASX was closed on Monday for the King's birthday public holiday. The Australian dollar strengthened. It was 0.3 per cent higher at 65.25 US cents at 5.13am AEST. Officials from the United States and China are meeting in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each's punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue. Hopes that President Donald Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20 per cent from its record two months ago. It's back within 2 per cent of its all-time high, which was set in February, and it's higher than it was before Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called 'Liberation Day.' This may be the shortest sell-off following a shock of heightened volatility on record, according to Parag Thatte, Binky Chadha and other strategists at Deutsche Bank. Typically, stocks take around two months to bottom following a spike in volatility and then another four to five months to recover their losses. This time around, stocks have basically made a round trip in less than two months. But nothing is assured, of course, and that helped keep trading relatively quiet on Wall Street Monday. Loading Some of the market's biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.4 per cent after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 1.6 per cent after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store