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These 3 ASX Healthcare shares are running hot today

These ASX Healthcare shares have led the way today along with metals and mining.
The post These 3 ASX Healthcare shares are running hot today appeared first on The Motley Fool Australia. –

The S&P/ASX 200 index (ASX: XJO) has spent the day in the green and is currently 0.5% higher at 7,309.7 points.

Healthcare shares are amongst the strongest performers leading the broad index’s recovery today, with the S&P/ASX 200 Health Care index (XHJ) gaining 0.45% since the open.

These three ASX healthcare shares are standouts in today’s session.

Bod Australia Ltd (ASX: BDA)

CBD and hemp manufacturer Bod Australia’s share price has soared higher on Wednesday and landed almost 12% in the green.

Bod’s shares are now changing hands at 29 cents apiece after the company announced a key clinical milestone earlier today.

Bod advised that it had entered into an agreement with “Australia’s leading respiratory and sleep institute” for a “schedule 3 trial” of a new CBD product.

The study will examine the efficacy of Bod’s “unique CBD formulation” over a 12 week period, at the Woodlock Institute of Medical Research.

According to Bod, this “unlocks a large opportunity”, as the “schedule 3 market (is) valued at $250 million”, and the “unregulated market” could be worth around $3.5 billion.

Bod will also “leverage established relationships” with key partners following “product registration with the Therapeutic Goods Association (TGA)”.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

Global biopharmaceuticals company Clinuvel’s share price has gained 5% today, despite no market sensitive news for the company.

However, Clinuve’s share price jumped after the company announced some amendments to its Annual General Meeting (AGM).

The company advised that its AGM will be held online in light of the COVID-19 pandemic, on Wednesday 10 November, with the time yet to be confirmed.

As such, shareholders will have to tune in to the virtual meeting remotely – but the decision does allow the meeting to take place.

Clinvel’s shares have been on an extended rally since the company announced record revenues and profit in its FY21 results last month. Since then, the Clinuvel Pharmaceuticals share price has climbed 49% to date.

Imugene Limited (ASX: IMU)

Another ASX healthcare share gaining steam today is biopharma company Imugene, posting a gain of 5% on the day.

Imugene shares are on the move after the company announced that its HER-Vaxx immunotherapy was granted patent approval in Japan.

This is a big move for the company and its HER-Vaxx regime, which is “currently in development” for gastric cancer.

As a result, Imugene’s HER-Vaxx therapy has protection in Japan, for the “composition and method of use” in its application.

The release also notes that “approximately 75% of all gastric cancer diagnoses are in Asia”, and that Japan has the “thirst highest incidence rate of gastric cancer worldwide”.

Imugene is hoping to make a meaningful difference to that statistic with its immunotherapy.

These three ASX Healthcare shares have beaten the broad indices today.

The post These 3 ASX Healthcare shares are running hot today appeared first on The Motley Fool Australia.

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More reading

Imugene (ASX:IMU) share price jumps 6% on Japanese patent news
Why the Clinuvel (ASX:CUV) share price has rocketed 50% in a month
Which ASX shares are leading the way on the ASX 300?

Here’s why the Imugene (ASX:IMU) share price is up 6% so far this week
Which ASX 300 shares are making the biggest moves on Tuesday?

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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