Good morning,
Welcome to today's edition of The Armchair Analyst, a 5-minute daily update on the ASX life-sciences sector.
Short update from me today.
I’m heading to the mecwacare facility in Prahan to meet the team from InteliCare (ASX: ICR) and find out how they just landed an $8.8M contract with the aged care provider.
Also, on Wednesday, I’m meeting with Talius Group (ASX: TAL), another provider of healthcare data for aged care facilities.
Both sell into the aged care sector.
Both are capped under $25M.
But different sales models.
ICR is direct-to-customer, while TAL sells through channel partners.
This week, as part of my Biotech 165 Challenge, I’ll line up these two ASX-listed peers side-by-side.
Stay tuned…
The Pulse Check
Dimerix (ASX: DXB) confirms its Phase 3 ACTION3 study remains >90% statistically powered; however, it has decided NOT to pursue the accelerated approval pathway. (DXB)
🪑 I traded this one on the hope that it would go after accelerated approvals. Will probably close out the trade today.
Acrux (ASX: ACR) unveils a new strategy focusing on commercialising Female Testosterone for low libido. (ACR)
🪑Very interesting. I’m catching up with the CEO later today to hear more.
EchoIQ (ASX: EIQ) has deployed its AI-based detection support software for aortic stenosis into Mount Sinai Health System (7 hospitals, 400+ outpatient practices, 3,760 beds). (EIQ)
🪑 Sales for the Aortic Stenosis product have been relatively slow without the reimbursement code.
So this deal does get the product in the hands of more cardiologists, so that the revenue tap can turn on quickly if it gets reimbursed.
Algorae Pharmaceuticals (ASX: 1AI) enters an exclusive licensing deal with Zydus Lifesciences to commercialise 10 injectable, oral, and specialty medicines across ANZ. (1AI)
🪑 The generics business strategy is now in full swing.
Cleo Diagnostics (ASX: COV) commenced staged test kit manufacturing with Bio-Techne ahead of FDA 510(k) submission for its ovarian cancer detection assay. (COV)
Orthocell (ASX: OCC) reports ~90% success in its Remplir™ nerve repair study in a real-world setting. (OCC)
🪑 While this study doesn’t affect the product’s approval (as it’s already approved), it might affect its adoption.
EVE Health Group (ASX: EVE) appoints its COO, Ben Rhor, as CEO. (EVE)
Nexalis Therapeutics (ASX: NX1) progresses Phase 1 trial for its CBD for panic disorder. to the final dosing cohort after independent Safety Review Committee approval. (NX1)
Vitura Health (ASX: VIT) provided a business update that highlights $2.7M in annualised cost savings. (VIT)
🪑 Publishing this type of ‘business update’ just before the quarterly report comes out is there to soften the blow.
Especially in this line: most cost savings and revenue will be reflected in FY2027 and beyond.
Translation?
This quarter is going to be rough. Please be patient.
Update from Chimeric Therapeutics (ASX: CHM) results yesterday.
🪑 I’ve spoken to the CEO and can confirm that the 60% response rate was based on all 25 patients, for a total of 15 clinical responses. Nice.
The Report Card
Emyria (ASX: EMD) reports $1.2M in quarterly revenue, driven by expanded insurer-funded treatments, and accelerates the national Empax clinic rollout, with expansions in Victoria and NSW underway. (EMD)
🪑 Strong quarter from my Second Armchair Pick, Emyria.
For me, anything above $1M was a win.
$1.2 million in revenue (up 300K from the previous period) is reflective of the growing clinical services revenue driven by more patients dosing for psychedelic therapies.
Importantly, the majority of this revenue would have come from the Perth Clinic, with Brisbane yet to fully ramp up and Victoria set to launch in the next quarter.
100+ trained therapists ready to go, but still Emyria needs to secure the authorised prescribers to administer the psychedelic medicines in each new region that opens.
This, it appears, is the next bottleneck to overcome.
Still $9M in the bank, so plenty of runway.
Nice job, Emyria team.
See you all tomorrow,
The Armchair Analyst
🪑
