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ASX Health Stocks: Cardiex jumps 15pc on sales update; Recce’s drug included in WHO report

Cardiex’s share price has soared by more than 17 per cent after it a sales update that pointed towards a doubling of revenues in just a year. Here’s your health wrap.

It's happy days at Cardiex. Picture: Getty Images
It's happy days at Cardiex. Picture: Getty Images

Cardiex’s (ASX:CDX) share price has soared by more than 17 per cent after it a sales update that pointed towards record revenues.

The digital health tech company told the market its sales had have been strong, with the expectation that its revenues for FY24 would almost double that of FY23 – from $6.01m to $12m.

Significant contributions have come from its pharmaceutical sales division and markets serving research and clinicians.

Sales to the research market in May marked a six-month high, and with June historically being the strongest month in this sector, the company anticipates achieving record research sales by the end of the financial year.


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Additionally, under new leadership, CDX’s pharmaceutical team is exploring multiple new opportunities, aiming to sustain sales growth from FY24 into FY25.

Meanwhile, the company said the first batch of its Conneqt Pulse production units was set to arrive in early July.

The Conneqt Pulse is a wearable health monitoring device designed to track various physiological parameters such as blood pressure and heart rate.

It’s intended to provide users with real-time health insights and facilitate proactive management of cardiovascular health.

These units will be distributed to CDX’s initial pilot partners, key opinion leaders (KOLs), and members of its clinician network.

A full production run of 3000 units is scheduled for Q1 FY25, with deliveries to the US starting at that time.

Importantly, the company says it has more than 30,000 units in chip inventory and a robust relationship with chip suppliers, ensuring readiness to fulfil future orders.

Recce’s R327 included in WHO report

Recce Pharmaceuticals (ASX:RCE), which produces pioneering synthetic anti-infectives, has achieved a significant milestone with its primary candidate, RECCE 327 (R327).

R327 has been included in the World Health Organization’s (WHO) latest report, “Antibacterial Agents in Clinical Development and Preclinical Development”.

The WHO report assesses both traditional and innovative antibacterial agents under development globally.

It specifically evaluates how well these compounds address infections caused by priority pathogens identified in the WHO’s updated 2024 list.

R327 stands out in the report as it is categorised by the WHO as an ATP (adenosine triphosphate) production disrupter, a unique classification within the report.


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ATP serves as the primary energy source within cells for various functions. By disrupting ATP production directly, rather than through secondary mechanisms, R327 shows potential effectiveness against a broad spectrum of bacterial pathogens, including both Gram-positive and Gram-negative bacteria.

“There is a demand for new antibiotic therapies, and this report further showcases R327’s potential as a novel treatment for a broad range of life-threatening and resistant bacteria,” said Recce Pharma CEO James Graham.

At 2pm Tuesday (AEST), RCE’s share price was up nearly 5.5 per cent for the day.

Clinuvel starts Parkinson’s program

Clinuvel Pharmaceuticals (ASX:CUV) has announced a new clinical program to study afamelanotide as a potential treatment for early-stage Parkinson’s disease (PD) in fair-skinned patients.

This drug activates a receptor called melanocortin-1 (MC1R), which is important in both skin and brain cells.

Studies have shown that people with fair skin, often associated with MC1R malfunction, have a higher risk of developing Parkinson’s.

The aim of the program is to investigate whether afamelanotide can reduce levels of α-synuclein — a harmful substance found in PD patients’ brains — and potentially protect midbrain neurons.

This hypothesis is supported by previous research demonstrating afamelanotide’s ability to improve neurodegenerative conditions in animal models of Parkinson’s.

Afamelanotide is alreadyh approved in Europe and the US under the name SCENESSE for treating a condition called erythropoietic protoporphyria (EPP).

The upcoming CUV901 study, set to begin in 2024, will be the first human trial evaluating afamelanotide specifically as a therapy for Parkinson’s disease.


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Race’s drug granted US FDA designation

Meanwhile, Race Oncology (ASX:RAC) announced that the US FDA has extended Rare Paediatric Disease Designation (RPDD) to RC220 bisantrene for the treatment of childhood (paediatric) subtypes of AML.

This grant builds on the previous designation awarded to RC110 in 2018.

RPDD is reserved for treatments addressing serious or life-threatening diseases affecting fewer than 200,000 people in the US, predominantly people under 18 years old.

This designation not only underscores the urgency of finding therapies for rare paediatric diseases, but also positions Race to potentially receive a Priority Review Voucher (PRV) upon RC220’s approval.

PRVs can expedite the review process for future drug applications or be sold to other companies, often fetching substantial sums exceeding $100 million.

The market reacted well to the news, with RAC’s share price up 17.7 per cent for the day at 2pm Tuesday (AEST).

This content first appeared on stockhead.com.au

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Originally published as ASX Health Stocks: Cardiex jumps 15pc on sales update; Recce’s drug included in WHO report

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Original URL: https://www.news.com.au/finance/business/stockhead/asx-health-stocks-cardiex-jumps-15pc-on-sales-update-recces-drug-included-in-who-report/news-story/da2df1a243ac745502c42f0c3bef8fa8