Latest news with #ClarityPharmaceuticals
Globe and Mail
3 days ago
- Business
- Globe and Mail
Meningioma Pipeline Appears Robust With 5+ Key Pharma Companies Actively Working in the Therapeutics Segment
DelveInsight's, 'Meningioma Pipeline Insight 2025' report provides comprehensive insights about 5+ companies and 5+ pipeline drugs in Meningioma pipeline landscape. It covers the Meningioma pipeline drug profiles, including clinical and nonclinical stage products. It also covers the Meningioma pipeline therapeutics assessment by product type, stage, route of administration, and molecule type. It further highlights the inactive pipeline products in this space. Discover the latest drugs and treatment options in the Meningioma Pipeline. Dive into DelveInsight's comprehensive report today! @ Meningioma Pipeline Outlook Key Takeaways from the Meningioma Pipeline Report In May 2025, European Organisation for Research and Treatment of Cancer - EORTC conducted a LUMEN-1 trial will investigate in a prospective randomized trial the efficacy of the precision medicine "theranostic" concept of combining diagnostic patient selection using PET-based molecular imaging and target-specific therapeutic intervention using a systemically administered radioligand. In May 2025, Baptist Health South Florida announced a phase II Study of Cabozantinib for Patients with Recurrent or Progressive Meningioma. DelveInsight's Meningioma Pipeline report depicts a robust space with 5+ active players working to develop 5+ pipeline therapies for Meningioma treatment. The leading Meningioma Companies such as NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Promising Meningioma Pipeline Therapies such as Nivolumab, Cabozantinib, Abemaciclib, SOM230C, Bevacizumab, 177Lu-DOTATATE, Pembrolizumab and others. Stay ahead with the most recent pipeline outlook for Meningioma. Get insights into clinical trials, emerging therapies, and leading companies with DelveInsight @ Meningioma Treatment Drugs Meningioma Emerging Drugs Profile Gleolan: NX Devolopment Corp NX development corp.'s drug, Gleolan also known as Aminolevulinic acid is an orally administered small molecule in development for the treatment and real time detection of meningioma. Gleolan is a prodrug that is metabolized intracellularly to form the fluorescent molecule Protoporphyrin IX (PpIX). The exogenous application of ALA leads to a highly selective accumulation of PpIX in tumor cells. Following excitation with blue light. It is a photosensitizer molecule which can utilize the energy to induce photochemical reactions to produce lethal toxic agents; ultimately results in cell death and tissue destruction. Nivolumab: Bristol-Myers Squibb Bristol-Myers Squibb 'breakthrough' drug nivolumab is currently being evaluated for the treatment of Meningioma and has demonstrated good safety and efficacy profile in phase II trials. Nivolumab is a human immunoglobin (IgG4) monoclonal antibody that binds to the PD-1 receptor and blocks the interaction with PD-L1 and PD-L2, releasing anti-tumor response. The Meningioma Pipeline Report Provides Insights into The report provides detailed insights about companies that are developing therapies for the treatment of Meningioma with aggregate therapies developed by each company for the same. It accesses the Different therapeutic candidates segmented into early-stage, mid-stage, and late-stage of development for Meningioma Treatment. Meningioma Companies are involved in targeted therapeutics development with respective active and inactive (dormant or discontinued) projects. Meningioma Drugs under development based on the stage of development, route of administration, target receptor, monotherapy or combination therapy, a different mechanism of action, and molecular type. Detailed analysis of collaborations (company-company collaborations and company-academia collaborations), licensing agreement and financing details for future advancement of the Meningioma market Explore groundbreaking therapies and clinical trials in the Meningioma Marketed and Pipeline Drugs. Access DelveInsight's detailed report now! @ New Meningioma Drugs Meningioma Companies NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Meningioma Pipeline report provides the therapeutic assessment of the pipeline drugs by the Route of Administration. Products have been categorized under various ROAs such as Subcutaneous Intravenous Oral Intramuscular Molecule Type Meningioma Products have been categorized under various Molecule types such as Small molecules Natural metabolites Monoclonal antibodies Product Type Unveil the future of Meningioma Treatment. Learn about new drugs, pipeline developments, and key companies with DelveInsight's expert analysis @ Meningioma Market Drivers and Barriers Scope of the Meningioma Pipeline Report Coverage- Global Meningioma Companies- NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Meningioma Pipeline Therapies- Nivolumab, Cabozantinib, Abemaciclib, SOM230C, Bevacizumab, 177Lu-DOTATATE, Pembrolizumab and others. Meningioma Therapeutic Assessment by Product Type: Mono, Combination, Mono/Combination Meningioma Therapeutic Assessment by Clinical Stages: Discovery, Pre-clinical, Phase I, Phase II, Phase III Get the latest on Meningioma Therapies and clinical trials. Download DelveInsight's in-depth pipeline report today! @ Meningioma Companies, Key Products and Unmet Needs Table of Contents Introduction Executive Summary Meningioma: Overview Pipeline Therapeutics Therapeutic Assessment Meningioma – DelveInsight's Analytical Perspective In-depth Commercial Assessment Meningioma Collaboration Deals Late Stage Products (Phase III) Gleolan: Nx Development Corp. Drug profiles in the detailed report….. Mid Stage Products (Phase II) Nivolumab: Bristol-Myers Squibb Drug profiles in the detailed report….. Pre-clinical and Discovery Stage Products Drug profiles in the detailed report….. Inactive Products Meningioma Key Companies Meningioma Key Products Meningioma- Unmet Needs Meningioma- Market Drivers and Barriers Meningioma- Future Perspectives and Conclusion Meningioma Analyst Views Meningioma Key Companies Appendix About Us DelveInsight is a leading healthcare-focused market research and consulting firm that provides clients with high-quality market intelligence and analysis to support informed business decisions. With a team of experienced industry experts and a deep understanding of the life sciences and healthcare sectors, we offer customized research solutions and insights to clients across the globe. Connect with us to get high-quality, accurate, and real-time intelligence to stay ahead of the growth curve. Media Contact Company Name: DelveInsight Business Research LLP Contact Person: Yash Bhardwaj Email: Send Email Phone: 09650213330 Address: 304 S. Jones Blvd #2432 City: Las Vegas State: NV Country: United States Website:
News.com.au
20-05-2025
- Health
- News.com.au
Health Check: There's no Biden time as Clarity launches prostate cancer study aimed at early detection
Clarity is poised to launch its second phase III prostate cancer imaging trial LTR Pharma shares swell 30% on the back of local chemist deal Trajan shares measure up at 70% above their current value In launching its second phase III trial pitched at US regulatory approval for nuclear medicine diagnostics, Clarity Pharmaceuticals (ASX:CU6) channels the experiences of both Joe Biden and our own Barnaby Joyce. This week it emerged that the former president is being treated for an aggressive prostate cancer. After the federal election campaign, Nationals MP Joyce revealed he underwent an operation after being diagnosed early, thanks to a GP visit and a routine prostate specific antigen (PSA) test. Clarity executive chair Dr Alan Taylor says news that Biden's cancer had metastasised to the bone 'is yet another reminder that no man is safe from this insidious disease'. About 3.3 million US men have prostate cancer, while Joyce joins more than 250,000 Australian blokes with the malady. 'These large numbers highlight the need for more timely and accurate diagnosis to safely and effectively treat the cancer with suitable therapies,' Taylor says. Dubbed Amplify, Clarity's trial tests the efficacy of its copper-isotope based agent - 64Cu-SAR-bisPSMA - to diagnose prostate cancer recurrence. Enrolling around 220 patients at local and US sites, the single arm, open label study will test for rising or detectable signs of the telltale PSA after initial definitive treatment. The patients will be evaluated on the day of administration and 24 hours thereafter. Clarity also has started recruiting for a 383-patient, 20-site trial. This one is to image patients with confirmed prostate cancer prior to undergoing radical prostatectomy (prostate removal). Clarity hopes the data will support earlier positive I/II trial results and pave the way for eventual US Food & Drug Administration (FDA) approval. Peer review suggests Trajan is undervalued Broker Bell Potter opines that there's almost 70% of upside in shares in Trajan Group (ASX:TRJ), which makes scientific instruments and related consumables for the biological, environmental and food testing sectors. The firm says recent results from Trajan's global peers point to destocking of customer inventory that had swelled post pandemic. The firm notes demand for liquid chromatography and mass spectrometry testing – the mainstay of Trajan's business. There's also swelling need to test for PFAS, the so-called 'forever chemicals' prevalent in our water and soil. 'Recent environmental legislation in the US appears to be a key long-term driver of a sector that could exceed US$200 billion of value,' the firm says. Trajan reported softer March quarter sales, owing to 'geopolitical and trade tensions'. But the company is benefiting from the destocking trend, with signs of a recovery in the subdued pharmaceutical sector. Bell Potter forecasts revenue of $162.5 million for the year to June 30, 5% higher, with last year's net loss of $25.3 million morphing into a slender $2.7 million profit. Bell Potter values Trajan at $1.50 per share. LTR Pharma firms up on pharmacy deal LTR Pharma's (ASX:LTP) nasal spray mist, erectile dysfunction treatment Spontan will become available at 600 more local pharmacies, under a tie-up with the Terry White Chemmart chain. An alternative to oral meds such as Viagra, Spontan is yet to be approved by the local Therapeutic Goods Administration (TGA). But it can be accessed under the TGA's Special Access Scheme and Authorised Prescriber Scheme. The company describes the tie-up as a 'pivotal milestone in LTR Pharma's access and readiness' strategy. 'Patients can now have their Spontan prescriptions filled at participating pharmacies nationwide, providing a direct pathway from healthcare professional to pharmacy dispensing.' LTR has also produced new barcoded commercial packaging for Spontan, incorporating TGA-compliant labelling, patient information materials, and pharmacy-standard barcodes. 'These barcodes are designed to enable integration with future telehealth platforms, providing patients with a direct and streamlined pathway to healthcare professionals for consultation and prescribing.' Terry White Chemmart is owned by the ASX-New Zealand listed EBOS Group (ASX:EBO). Earlier, LTR struck a deal with drug wholesaler Symbion to distribute to 3900 pharmacies. The company says the special access usage will add to its 'real world' evidence about Spontan's efficacy. This will support LTR's plans to seek TGA and FDA marketing approval. LTR also plans to launch a variant called Roxus in the US in 2026, under a pre-approval compounding pharmacy pathway. Trials to date show that Spontan is absorbed into the blood 470% faster than traditional ED tablets, with men ready for action in as little as five minutes. The company cites a global market of 330 million ED suffers, with the US accounting for 30 million. Fly away, little birdie Having formed Nyrada (ASX:NYR) eight years ago, Noxopharm (ASX:NOX) is severing links with its grown-up 'child' by disposing of its 18% Nyrada stake. If only ejecting 20-something kidults from the family hotel – er, home – were just as easy. The holding is being acquired by a syndicate of current and new Nyrada holders, with Nyrada's board and management accounting for about 26%. Nyrada is furthering its small molecule lead drug candidate NYR-BI03, to treat ischemic stroke, traumatic brain injury and myocardial ischemia-reperfusion injury (incurred when blood supply is restored, ironically). Nyrada has launched a first-in-human phase I trial is underway, covering neuroprotection and cardio protection. Noxopharm, meanwhile is focused novel treatments for cancer and inflammation, including improving the safety of genetic medicines. Noxopharm says the $2.5 million of non-dilutive funds in part will support its upcoming Heracles clinical trial, targeting the autoimmune disease lupus. Noxopharm's Nyrada stake consists of a tad over 33.3 million CHESS Depository Interests. This stock is being sold via an off-market process at 7.5 cents a pop - a 25% discount to yesterday's closing price. Nyrada listed in 2020. Both companies now have market valuations of around $20 million, so my do those teenagers grow.
Yahoo
13-05-2025
- Business
- Yahoo
3 ASX Penny Stocks With Market Caps Larger Than A$500M
The Australian market recently experienced a boost following a policy reversal by Trump, which provided temporary relief on tariffs for China. In such fluctuating conditions, investors often seek opportunities in smaller or newer companies that can offer both affordability and potential growth. Despite the somewhat outdated term, penny stocks remain relevant as an investment area, with some demonstrating financial strength and stability that could appeal to those looking for hidden gems in the market. Name Share Price Market Cap Financial Health Rating CTI Logistics (ASX:CLX) A$1.78 A$143.37M ★★★★☆☆ EZZ Life Science Holdings (ASX:EZZ) A$1.46 A$68.87M ★★★★★★ IVE Group (ASX:IGL) A$2.67 A$411.67M ★★★★★☆ GTN (ASX:GTN) A$0.62 A$118.5M ★★★★★★ West African Resources (ASX:WAF) A$2.27 A$2.59B ★★★★★★ GR Engineering Services (ASX:GNG) A$2.79 A$466.92M ★★★★★★ Bisalloy Steel Group (ASX:BIS) A$3.35 A$158.96M ★★★★★★ Regal Partners (ASX:RPL) A$2.43 A$816.88M ★★★★★★ Navigator Global Investments (ASX:NGI) A$1.67 A$818.43M ★★★★★☆ NRW Holdings (ASX:NWH) A$2.90 A$1.33B ★★★★★☆ Click here to see the full list of 994 stocks from our ASX Penny Stocks screener. We'll examine a selection from our screener results. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Clarity Pharmaceuticals Ltd is a clinical stage radiopharmaceutical company focused on the research and development of radiopharmaceutical products in Australia and the United States, with a market cap of A$822.66 million. Operations: Clarity Pharmaceuticals generates revenue through its radiopharmaceutical development segment, amounting to A$10.78 million. Market Cap: A$822.66M Clarity Pharmaceuticals, with a market cap of A$822.66 million, is navigating the penny stock landscape with its focus on radiopharmaceuticals. Despite being unprofitable and experiencing increased losses over the past five years, Clarity's strategic moves are noteworthy. The company has secured a commercial-scale supply agreement for copper-64 with Nusano, enhancing its capacity for large-scale production in the US market. Additionally, Clarity's SECuRE trial is advancing to Phase II following promising results in prostate cancer treatment. With sufficient cash runway and no debt burden, Clarity positions itself strategically within this niche sector despite high volatility challenges. Navigate through the intricacies of Clarity Pharmaceuticals with our comprehensive balance sheet health report here. Learn about Clarity Pharmaceuticals' future growth trajectory here. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Civmec Limited is an investment holding company that offers construction and engineering services across the energy, resources, infrastructure, marine, and defense sectors in Australia, with a market cap of A$503.44 million. Operations: The company generates revenue from several segments, including A$38.78 million from Energy, A$864.53 million from Resources, and A$140.68 million from Infrastructure, Marine & Defence. Market Cap: A$503.44M Civmec Limited, with a market cap of A$503.44 million, is actively expanding its footprint in the construction and engineering sectors through significant contract awards and extensions valued at approximately A$285 million. The company's recent projects, including the Port Waratah shiploader project and Eneabba rare earths refinery works, underscore its robust order book and client confidence. Despite facing challenges such as lower net profit margins compared to last year and negative earnings growth over the past year, Civmec maintains financial stability with satisfactory debt levels and strong asset coverage for liabilities. Its dividend yield remains attractive but is not well covered by free cash flows. Unlock comprehensive insights into our analysis of Civmec stock in this financial health report. Examine Civmec's earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Stanmore Resources Limited is involved in the exploration, development, production, and sale of metallurgical coal in Australia, with a market cap of A$1.78 billion. Operations: The company generates revenue from its Metals & Mining segment, specifically through coal, amounting to $2.40 billion. Market Cap: A$1.78B Stanmore Resources, with a market cap of A$1.78 billion, has seen its revenue decline to US$2.50 billion for 2024 from the previous year. Despite this, it maintains stable debt levels with a net debt to equity ratio of 1% and adequate interest coverage at 3.5 times EBIT. Short-term assets exceed liabilities, though long-term liabilities remain uncovered by short-term assets. The company's profit margins have decreased significantly from last year, and earnings are projected to decline further over the next three years. Its dividend yield is high but not supported by free cash flows, indicating potential sustainability concerns. Jump into the full analysis health report here for a deeper understanding of Stanmore Resources. Evaluate Stanmore Resources' prospects by accessing our earnings growth report. Get an in-depth perspective on all 994 ASX Penny Stocks by using our screener here. Contemplating Other Strategies? AI is about to change healthcare. These 23 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:CU6 ASX:CVL and ASX:SMR. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
West Australian
13-05-2025
- Business
- West Australian
ASX: Share market lifts on US-China peace talks but gold stocks sink
A ceasefire in America's trade war with China has sparked an enthusiastic Tuesday morning for share markets. The ASX200 lifted 0.75 per cent in the first few minutes of trade but the ebullience was soon pared back, and the bourse was up 0.38 per cent at 8,264.7 points an hour from the close. Japan's Nikkei Index was up 1.8 per cent while the Dow gained 2.8 per cent overnight. It followed news of a peace deal between the world's two largest economies on Monday, with tariffs slashed for 90-days while trade talks continue. But economists have cautioned that tariffs remain much higher than when the year started. US-exposed Clarity Pharmaceuticals was the top performer, rising 15 per cent to $2.56 per share. Clarity won a fast-track designation from America's Food and Drug Administration in February for a prostate cancer treatment. That came despite overseas drug-makers sliding thanks to news President Donald Trump planned an executive order to slash pharmaceutical prices. Life360 — a tech app hoping to grow in North America — was up 11.9 per cent to $26.69. But WA's darling gold industry copped a hit as investors downgraded their expectations of economic and financial risk. The Aussie dollar gold price dove $180 an ounce in the past week to be below $5100/oz. The five worst performing stocks on Tuesday were all gold plays. Capricorn Metals, Ramelius Resources, Genesis Minerals, Spartan Resources and Regis Resources all posted falls of almost 10 per cent or more. Commonwealth Bank economists declared they believe 'peak tariff' is past — with the US to cut trade taxes on Chinese goods by 115 percentage points. 'The 90 day deal gives the US and Chinese governments time to rethink their positions,' head of international and sustainable economics Joseph Capurso said in a note. 'Their earlier positions were going to have a material negative impact on their economies.' He said the deal reduced economic risk but tariffs could still lead to stagflation — when both unemployment and inflation remain elevated. 'We consider there is little chance the US and Chinese governments will agree to a comprehensive trade agreement in the next 90 days,' Mr Caruso said. 'The shortlived first trade agreement in President Trump' first term took around one year to negotiate. 'At the end of the 90 days, we expect tariffs on imports from China and the US will still be material, probably not much lower than currently.' ANZ reckoned the US Federal Reserve would resume interest rate cuts in the September quarter. But the big four bank still put the chances of an American recession at 30 per cent. The ceasefire deal is the latest major backdown by Mr Trump's administration, after sweeping and largely baseless tariffs announced on so-called 'Liberation Day' in April. The huge tax hike — among the largest in US history — sparked panic in financial markets and sent the cost of US government debt soaring.
News.com.au
07-05-2025
- Business
- News.com.au
Dr Boreham's Crucible: The strategy is clear for this x-ray imaging house – can it see it through to profitability?
Many life science companies stress the virtue of diversity: multiple programs to protect against one of them failing. Diversity can be helpful: after its failed phase III eye disease programs, Opthea would be wishing it had another drug candidate up its sleeve. But chasing too much stuff can spread resources too thinly and create investor confusion. Just last month Clarity Pharmaceuticals ditched neuroblastoma and some prostate cancer programs from its crowded radiotherapy rota and Clinuvel Pharmaceuticals paused its stroke program. In the case of Micro-X (ASX:MX1), as part of a 'strategy re-set' the x-ray imaging house has focused on medical applications, rather than security and defence uses such as bomb and baggage screening. 'The tech we have developed has fantastic applications in medical, security and defence,' CEO Kingsley Hall says. 'We have decided that while our technology enables applications in all those fields, we can impact medical the quickest and the best. 'While the security industry is quite large, it tends to be slowest to move and has some significant incumbents.' About Micro-X Micro-X has commercialised two mobile digital radiology (DR) devices: the first-generation Nano and a sturdier iteration called Rover. Based in the Adelaide suburb of Tonsley, Micro-X listed on December 21, 2015, having raised $20 million at 50 cents apiece. Along the way, Micro-X entered several alliances and distributorships, including with Carestream Health Inc (formerly Kodak Medical Imaging), MXR Imaging Inc and listed French x-ray equipment manufacturer DMS Imaging SA. Inaugural CEO Peter Rowland oversaw development of four separate uses for the company's revolutionary cold-cathode x-ray technology. Amid investor frustration about slow progress, in May 2023 Mr Rowland stepped down in favor of chief financial officer Kingsley Hall. In September 2022, Micro-X inked a deal with Nasdaq listed x-ray component supplier Varex Imaging Corp, by which Varex took a 9.9% equity stake for a $15 million outlay. Hot to trot on cold cathodes In a century-old process, x-rays are generated with a heated filament cathode that generates electrons in a vacuum tube. The process is inefficient because of wasted heat and the electrons don't all move in the right direction. Micro-X's cold cathode technique is based on four-nanometre wide carbon tubes, under an electrified fine mesh structure. While standard computed tomography (CT), scanners use only one x-ray source to rotate around an object. Micro-X's tubes enable x-ray beams to be fired from different angles with no moving parts. The tubes are substantially smaller and lighter and are controlled electronically - rather than via heat - and can be turned on and off instantly. Rover runs well in the field A lightweight 'ruggedised' version of the Nano, Rover is proving its mettle in the Ukraine conflict. Initially funded by two US-based charities, Micro-X delivered 13 Rovers to the Ukraine in late 2022, followed by 16 more Australian government-funded units last year. 'The feedback from surgeons using them on the frontline has been phenomenally positive,' Hall says. 'One of them was used 6000 times in its first month.' In toto, Micro-X has sold 400 Rovers in 39 countries, with the US comprising the biggest market. The company also has European Union approval for Rover, but it's a 'large and difficult market.' The company is awaiting formal feedback to undergo a large formal trial in the US, with an unnamed hospital group. … and he's a good sport Another Rover application is on the sporting field rather than battlefield, with about one third of US Major Baseball League teams deploying the units to examine player injuries. Rover was also the mobile digital radiology units of choice for the recent National Collegiate Athletics Association's US basketball championships. Rover has also been used in driver's pits at grand prix events. 'It's found a really nice niche among professional sporting teams and associations,' Hall says. Baseball and basketball may not be contact sports, but hand and feet injuries abound. Rover means teams may not have to send players to hospital for an x-ray and may be able to get them back on the field. 'World first' full body CT: image-in that? In early December last year, the US Advanced Research Projects Agency for Health (ARPA-H) awarded the company up to US$25 million over five years to develop the world's first portable full-body computed tomography (CT) scanner. The first US$8 million is in the bank and the rest depends on meeting 'technical objectives' and US Food and Drug Administration approval. The compact is part of the US government's 'Paradigm' program, to take hospital-grade computed tomography into regional America. Hall says that to be selected, the unit needed to be at least 80% lighter than a traditional computed tomography device, which typically weighs a tonne. And for anyone wondering about the security of the funding, it helps that regional America is Donald Trump's voting heartland. Stroke me Micro-X is building three prototype versions of its portable stroke units, which will be used in three planned local hospital trials. Current stroke detection CT scanners weigh 600 kilograms and need a crew of five. Oh – and they cost $1.5 million. Micro-X's so-called ring scanner weights 75kg, is much cheaper and emits 85% less radiation. In December, the first stroke patient was successfully imaged. The trials will entail suspected stroke victims being subject to standard CT imaging, then overlaid with the Micro-X scan. Aiming for 'several hundred' scans, the studies only need to prove that the Micro-X tech is just as good as the conventional ones. In essence, the scans aim to distinguish clot strokes, the most common, from bleeds. This is crucial because a clot can be treated with blood thinning drugs, but for a bleed patient, that could be fatal. The program is backed by the Australian Stroke Alliance (ASA) and the Australian Medical Research Future Fund (MRFF). Shedding the baggage Initially funded by the US Department of Homeland Security to the tune of US$29 million, Micro-X's self-service baggage scanning program has been far from wasted. In February, the company struck a deal with Malaysian logistics company Billion Prima Sdn Bhd to develop the technology. The compact involves Billion Prima taking a $2.4 million equity stake in Micro-X – just under 4% of the company - at nine cents a share (a 15% premium). Prima will pay Micro-X up to $3.2 million to develop a baggage scanner for them, over the next 12 months. If successful, the units would be distributed to up-to nine South East Asian countries. 'I think they will be very good partners,' Hall says. 'But we have also had other good ongoing conversations bout monetising other parts of our security assets … in the short to medium term.' Bombs away Micro-X won't spend any more money on its Argus bomb detection program, but that doesn't mean it's been detonated altogether. A lightweight self-contained camera carried by a robot, Argus can detect a suspicious object in 10 seconds – and up to 1500 metres away. The Australian Defence Force provided initial seed funding for Argus, which was launched in early 2024. But the company quickly realised there wasn't enough demand. 'The product was well engineered and well-resourced, and it did what it set out to do,' Hall said. 'While the product was being developed, the environment changed'. The 'problem' is that terrorist activity has lessened, meaning bomb threats aren't as prevalent. Yay everyone! 'We still think the technology is of great value and well will seek to commercialise it, outside of Argus as a product,' Hall says. 'But we are not actively marketing it.' Finances and performance Micro-X recorded revenue for the six months to December 31, 2024 of $3.96 million, 51.7% lower year-on-year. Partly explaining the decline, the previous period included a $2.8 million government Rover contract. The company lost $8.68 million, compared with a $7.66 million deficit previously. The revenue included $995,000 from Rover sales and $2.96 million of 'engineering service income': $300,000 from the ASA and $2.666 million from the US DHS. In March, the company completed a placement and rights offer that raised $6.4 million at seven cents a share, a 10% discount. This was over and above the $2.4 million placement to Prima. The retail rights stanza raised only $620,000 of the maximum $2.74 million. In December, the company pocketed a $6.4 million federal R&D tax rebate. The accounts record a $1.5 million loan, which is an advance on this year's expected refund. In February, the company also received $1 million from Prima as the first instalment in the development deal. Over the last 12 months Micro-X shares have traded between a low of 5.0 cents (mid-September last year) and 9.7 cents in early December. The latter reflects a 70% share surge after the ARPH funding announcement. Not tariff-ic, but we can live with it Micro-X makes its goods – tubes, generators and high voltage – in Adelaide, with more than 90% of its input materials sourced from Australia. Hall says of the presumed 10% tariff: 'It's difficult. But it's not as bad as our European and Asian trading partners. 'Our cost position relative our competitors is good, so … it is not a game stopper.' What's your favourite? Rather than nominating his favourite program, Hall says the real hero is the company's underlying technology. Over time, the company has evolved from making and refining the tubes, to making the high voltage generators and switching between the tubes 'We have three tubes but are developing a fourth one,' he says. 'They are different in size and shape and what they do … but the underlying tech and applications are the same.' While the head (stroke) CT has 21 tubes, the full-body scanner has more than 100. 'Also, the majority of our software is constructed in-house,' Hall says. 'We are really focused on the technology platform and how that transforms into medical products.' Dr Boreham's diagnosis Hall says the company is looking for 'positive and profitable' applications for its technology. Who could argue with that? 'Our goal is to make great imaging products that are better than our competitor,' he says. 'We think all three of our current medical products will be strong for us and the demand will grow as each one enhances our position in the market.' Micro-X has done well to attract non-dilutive funding from various sources. But as is almost the case in the medical device game, progress to profitability has been slower than expected, 'There's a lot going on, but we have to get on with it and demonstrate some real positive results,' Hall says. At a glance ASX code: MX1 Share price: 6.0 cents Shares on issue: 664,173,290 Market cap: $39.85 million Chief executive officer: Kingsley Hall Board*: Patrick O'Brien (chair), Jim McDowell, Illona Meyer, Andrew Hartmann * Dr Alexander Gosling and David Knox left in November 2024 and January 2025, respectively Financials (December 2024 half year): Revenue $3.96 million (down 51.7%), net loss $8.68 million ($7.66 million deficit previously), 1.59 quarters cash at March 31, 2025 Identifiable major holders: Perennial Value Management 12.9%, Acorn Capital 10.85%, Varex Imaging 9.3%, Tiga Trading/Thorney 7.76%, Peter Rowland 2.4%
