The three healthcare shares are well on the rise today. Read on for more details.
The post These 3 ASX Healthcare shares have soared over 10% today appeared first on The Motley Fool Australia. –
The broad Australian indices have started the day off in the red as the market resets from a number of stirrups this week.
The S&P/ASX 200 index (ASX: XJO) has clipped 0.37% lower today and sits at 7,343 points, whereas the S&P/ASX 200 Health Care index (XHJ) has dropped around 1% from the open.
Yet, these 3 ASX healthcare shares are soaring well ahead of their benchmarks today. Let’s take a closer look.
Neuroscientific Biopharmaceuticals Ltd (ASX: NSB)
Neuroscientific is concerned with the development of diagnostics and therapeutics for neurodegenerative diseases.
In today’s trading, Neuroscientific’s shares are changing hands at 48.5 cents each, which is a 10% gain from the open.
Two recent advancements made on the company’s EmtinB drug label appear to have shot the company’s shares to new highs. Neuro’ is developing EmtinB as a treatment for all kinds of neurodegenerative conditions, such as Alzheimer’s and MS.
On 31 August, Neuro’ had positive data readouts from a pre-clinical study that showed EmtinB’s potential “as an effective treatment for Multiple Sclerosis (MS)”. The results add to a list of data that points to it being a potential MS drug candidate.
Aside from this, on 3 September the company advised it had received approval from AusIndustry under the R&D tax incentive program to develop EmtimB as a “novel therapeutic treatment for ocular conditions” with (up to) $25 million in rebates.
Bionomics Ltd (ASX: BNO)
Bionomics shares are now changing hands at 17.5 cents each, which is a 6% gain in afternoon trade. At one point today, shares in the biopharma company were trading at over 18 cents each, up 10% from the previous close.
A recent announcement concerning the company’s lead clinical compound, BNC210, appears to have spurred on recent gains for Bionomics.
Last week it announced a “planned (the) commencement” of a clinical trial for BNC210, further investigating its use in the “acute treatment” of social anxiety disorder.
The compound had previously shown promising signs in a Phase 2a clinical study, where it produced “significant anti-anxiety signals”.
It is recruiting 150 patients in the US-based study, and intends to submit an application “by the end of this year”.
Investors continue to push this ASX healthcare share into the green as we finish trading this week.
Dimerix Ltd (ASX: DXB)
Shares in clinical biopharma company Dimerix hit an intraday high of 31 cents at one point today, an 11% gain from the previous close.
They have since cooled off slightly in afternoon trade and now trade at 30 cents each. Dimerix shares have been on the move today since the company made a key announcement earlier.
The company advised it had been given the green light in India to start the “feasibility/Phase 3 clinical study” of its lead drug candidate, DMX-200.
DMX-200 will now be investigated in the “treatment of respiratory complications associated with COVID-19 imminently”, after the Indian authorities met on 2 September to discuss the study.
This marks the “final regulatory agency approval required” to commence the phase 3 study, known as CLARITY 2.0. The first patient is “expected to be dosed in the next few weeks”.
Aside from this, DMX-200 is also being investigated in a Phase 3 clinical study for a rare set of kidney disorders.
These 3 ASX healthcare shares have stepped ahead of the broad indices in afternoon trade on Friday.
The post These 3 ASX Healthcare shares have soared over 10% today appeared first on The Motley Fool Australia.
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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.