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The Clean TeQ Holdings Ltd (ASX: CLQ) share price is flat in morning trade despite the company reporting its second major contract in as many days.

Shares in the technology-oriented ASX pollution control company are trading at 27 cents per share at the time of writing.

Let’s take a closer look at what’s happening with the Clean TeQ share price today.

What new contract award did Clean TeQ announce?

In today’s release, the company announced a new contract to design and install a Clean TeQ BIONEX water treatment plant in a Chinese coal mine. The contract has been awarded to Clean TeQ’s 100% owned Beijing-based subsidiary.

Clean TeQ said the water treatment facility, to be built at the mine site in Inner Mongolia, can treat and remove “nitrate from 12,000 m3 /day of coal mine in pit groundwater to below 1 ppm”. This level is in line with local regulations for mine water disposal.

Worth approximately $2 million, the contract was awarded by a subsidiary of Beijing Enterprises Water Group (HKG: 0371), which has a market cap of more than $5.2 billion.

Clean TeQ reports that the company, among the largest water treatment companies in Asia, has “expressed an interest in ongoing cooperation once this first BIONEX plant is successfully commissioned”.

Words from the management

Commenting on the new contract, Clean TeQ managing director Sam Riggall said:

We have persisted for a long time to make inroads into the very large Chinese water treatment market.

As we move towards the proposed demerger of our water business later this year, it is pleasing to see that we have achieved some initial success in that important market as we continue to make good progress on our goal of growing revenues.

Today’s announcement follows yesterday’s ASX release, in which Clean TeQ reported a new contract award for a water treatment plant upgrade in Oman. That contract is valued at more than $1 million.

Clean TeQ share price snapshot

The past 12 months have been good to Clean TeQ shareholders, with shares up 108%. Over that same time, the All Ordinaries Index (ASX: XAO) is up 39%.

Year-to-date, the Clean TeQ share price is up 4%.

More reading

• Why the Clean TeQ (ASX:CLQ) share price is pushing higher today
• Clean TeQ (ASX:CLQ) share price nosedives 8% on $10 million loss

Motley Fool contributor Bernd Struben 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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Incannex Healthcare Ltd (ASX: IHL) shares are up again today as the company announced its new CBD-based drug is more effective in treating rheumatoid arthritis than currently available medications.

The Incannex share price opened nearly 15% higher than yesterday’s close after the news broke. It has since dropped back to 22.5 cents, representing a 9.76% gain for the day so far. 

Incannex is a pharmaceutical development company working on the commercialisation of medical cannabis and psychedelic medicine therapies.

Here’s a closer look at what the company announced today.

Rheumatoid arthritis treatment breakthrough

The Incannex share price is surging higher today after the company heralded another research program for its new drug IHL-675A following positive results in a pre-clinical study. 

The company’s latest study found the drug is up to 3.5 times more effective at reducing arthritis than common treatments currently on market.

Currently, the main treatment for rheumatoid arthritis is hydroxychloroquine (HCQ), marketed as Plaquenil. The company noted long term use of HCQ has been linked to increased cardiovascular mortality.

Incannex’s new treatment is a combination of cannabidiol (CBD) and HCQ. By combining CBD And HCQ, the amount of HCQ needed to treat arthritis can be reduced up to 10-fold, resulting in fewer side effects for patients.

In further news boosting the Incannex share price, the new drug also showed potential for treating other types of inflammation. The study demonstrated it to have “potent anti-inflammatory activity” when treating inflammatory lung conditions such as asthma and bronchitis, as well as colitis.

Incannex plans to market IHL-675A in key global markets, including the United States, Europe, Japan and Israel. It has filed an International Patent Application and plans to pursue US Food and Drug Administration registration, subject to the ongoing success of clinical trials. 

Commentary from management

Incannex Healthcare CEO and managing director Joel Latham said IHL-675A has the potential to be a breakthrough in the treatment of rheumatoid arthritis. He commented:

Hydroxychloroquine is an established medication for rheumatoid arthritis and IHL-675A has been demonstrated to outperform it at reducing disease severity in an animal model.

The benefit of the CBD and hydroxychloroquine combination in IHL-675A is potent. The observation that IHL-675A was as effective or better than a standard dose of hydroxychloroquine, even though it contained 90% less drug, is an exciting result for the Company.

Incannex share price snapshot

Over the past 12 months, the Incannex share price has risen by more than 460%. The company’s shares are also up by 50% year to date.

Based on the current Incannex share price, the company has a market capitalisation of around $217 million with approximately 1 billion shares outstanding.

More reading

• Up 300% in 1 year, what’s driving the Incannex Healthcare (ASX:IHL) share price?

Motley Fool contributor Brooke Cooper 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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Despite the healthcare leading the gains in the S&P/ASX 200 Index (ASX: XJO) yesterday, there are some healthcare shares that have been out-of-form over the last month.

It can sometimes be useful to take a look at which shares are bucking a sector-wide trend. This can assist in pinpointing which are valuable opportunities and which could be underperformers.

In saying that, let’s take a look at 3 ASX healthcare shares that have been sluggish over the past 30 days.

ASX healthcare shares feeling off

Pro Medicus Ltd (ASX: PME)

Shares in the health imaging software provider have now been following a downward trend for nearly a month. Following the announcement of several new contract signings for its software, the company released its 2021 half-year results.

The company’s results were reasonable with growth across all metrics. However, the market might be apprehensive to buy at these prices due to the founders selling down their holdings following the release. Both Dr. Sam Hupert and Mr. Anthony Hall sold 1 million shares each. This represented 4% of their respective shareholdings.

The Pro Medicus share price has fallen 6.3% in the last month. Whereas the company’s shares have appreciated by 62% in the past 6 months.

Volpara Health Technologies (ASX: VHT)

The Volpara Health share price has been under pressure since February. The New Zealand-based healthcare software provider of breast imaging services has fallen nearly 15% over the last month.

Despite the company’s revenue growth and expansion through acquisition, this ASX healthcare share has continued to sell-off. Most recently, Volpara announced the signing of its highest value contract to date. The deal with CRA Health is worth US$400,000 per year in annual recurring revenue (ARR) terms.

It is possible that the market wasn’t overly impressed with the announcement considering CRA Health was acquired by Volpara recently. Hence, the payment from CRA is more so internal money shifting.

Noxopharm Ltd (ASX: NOX)

This ASX healthcare share has certainly seen better days. The Noxopharm share price has dropped by 27% in the past month of trading.

The clinical-stage drug development company has been in a state of decline since it reported half-year results. Being in the early stages of drug development, Noxopharm reported a hefty $6.7 million loss on the bottom line for the half.

Unfortunately for Noxopharm, this result was released around the time when investors began being more cognisant of valuations. As a result, it appears not even news of the company’s Veyonda drug moving to its final stage of the clinical trial has been able to turnaround the market’s sentiment.

On a positive note, the Noxopharm share price has gained 106% in the last 6 months. 

More reading

• Here’s why the Volpara (ASX:VHT) share price is surging 7% higher
• The Pro Medicus (ASX:PME) share price is up 23% in 2021: Can it go higher?
• Is it ok to buy ASX 200 shares at a 52-week high?
• Why Flight Centre, Qantas, ResApp, & Volpara are racing higher
• Why the Volpara (ASX:VHT) share price is pushing higher today

Mitchell Lawler owns shares of Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. and VOLPARA FPO NZ. The Motley Fool Australia has recommended Pro Medicus Ltd. and VOLPARA FPO NZ. 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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The Starpharma Holdings Limited (ASX: SPL) share price is pushing higher on Tuesday morning.

At one stage today, the dendrimer products developer’s shares were up as much as 6% to $1.98.

At the time of writing, Starpharma share price has eased back but remains 1% higher at $1.89.

Why is the Starpharma share price pushing higher?

The catalyst for this gain has been the release of a positive announcement this morning relating to its second radiopharmaceutical candidate, DEP HER2-lutetium.

According to the release, DEP HER2-lutetium achieved potent and durable anticancer activity in a human breast cancer model. The release advises that it demonstrated complete tumour regression, outperforming Herceptin (trastuzumab) labelled with lutetium.

The study was conducted at University of Queensland’s Centre for Advanced Imaging. It evaluated the anticancer activity of different doses of DEP HER2-lutetium and DEP lutetium. Treatment with either a 1×15 MBq or 2×9 MBq dose of DEP HER2-lutetium showed a potent anti-tumour effect, resulting in complete tumour regression in the BT474 human breast cancer model.

Positively, all dose regimens of DEP HER2- lutetium were extremely well tolerated. Furthermore, there were no deaths due to treatment or as a result of tumour growth in any treatment group.

What now?

Management notes that radiotheranostics is a rapidly developing area of cancer treatment and diagnosis, which has recently generated several high-value deals. Recent deals include the acquisition of Endocyte by Novartis for US$2.1 billion and the acquisition of former ASX listed company Sirtex by CDH Genetech for ~A$1.9 billion.

Sales in the category are estimated to grow to $12 billion to $15 billion by 2030.

Starpharma’s CEO, Dr Jackie Fairley, commented: “We and our specialist radiotheranostics clinical advisers are very excited by these latest data. Starpharma now has multiple potential DEP products in the radiopharmaceuticals and radiodiagnostic area. We are delighted to continue working with Professor Kristofer Thurecht at the University of Queensland’s Centre for Advanced Imaging, as well as building strong relationships with radionuclide specialists and clinicians.”

More reading

• Which ASX healthcare shares saw the biggest gains in February?
• Starpharma (ASX:SPL) share price slips after posting loss
• Here’s why the Starpharma (ASX:SPL) share price is rocketing 13% higher
• Why Bank of Queensland, MNF, Oil Search, & Starpharma are charging higher

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. 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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The Brainchip Holdings Ltd (ASX: BRN) share price nosedived at market open following the surprise exit from its CEO. At one point, the artificial intelligence technology company’s shares hit as low as 47.5 cents. However, some bargain hunters have swooped in, easing the share price to 51 cents, down 9%.

What’s driving the BrainChip share price lower?

The BrainChip share price is deep in the red today as investors weigh up the company’s latest update.

According to this morning’s release, the BrainChip board has mutually decided to terminate the managing director and CEO, Louis DiNardo, from his post. While no reason was stated for the abrupt exit, the decision was made with immediate effect, concerning shareholders. The company said that Mr. DiNardo was leaving to ‘pursue other interests’.

In a bid to quickly fill the hole left, the board has appointed Peter van der Made as the new interim CEO. Mr van der Made is the current chief technology officer, co-founder, and executive director of BrainChip. He was also CEO of the company from October 2015 until September 2016, when Mr. DiNardo took over the reins.

During the interim period, Mr van der Made will be assisted by his senior management team to fulfil his outstanding duties. This includes Anil Mankar who is co-founder and chief development officer, Ken Scarince, chief financial officer, and Rob Telson, vice president of worldwide sales.

BrainChip noted that there will be no changes to Mr van der Made’s remuneration package, while he serves the new temporary role. A search is currently underway to find a permanent replacement.

To ensure a smooth transition process, Mr. DiNardo will move into a 12-month part-time role with BrainChip, supporting Mr van der Made.

Management commentary

BrainChip non-executive chair Mr. Emmanuel Hernandez commented:

On behalf of the Board and the employees of Brainchip, we thank Lou for his years of service to Brainchip and for taking us from concept to silicon. We wish him the best in his future endeavours.

Mr. van der Made went on to add:

I also want to thank Lou for leading us to this point. I am honoured to lead our team during this interim period, while the Board commences an expeditious search for our next seasoned Chief Executive Officer, to further advance the commercialization of our Akida technology and strategy for the future.

Despite today’s fall, the BrainChip share price has gained more than 1,500% since this time last year.

More reading

• ASX quarterly rebalance: HUB24 joins ASX 200, Brainchip into ASX 300
• Brainchip (ASX:BRN) share price tumbles 5% today. Why?
• Brainchip (ASX:BRN) share price slides on bigger loss

Motley Fool contributor Aaron Teboneras 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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The Rhythm Biosciences Ltd (ASX: RHY) share price has opened higher on Tuesday after the successful completion of Study 6 for its ColoSTAT product. At the time of writing, the Rhythm share price is trading at $1.60, up 6.33%.

Let’s take a closer look at this announcement and what it means for the Rhythm share price.

Why the Rhythm share price opened higher on Tuesday 

The Rhythm share price has surged. Climbing from a low of 3.5 cents 12-months ago to a high of $1.675 on 2 March. The company continues to hit significant milestones. In particular, for the commercialisation of its simple, affordable, and effective ColoSTAT blood test. This test focuses specifically on the early detection of colorectal cancer, the third-largest cause of cancer-related deaths globally. 

Today, the company announced the successful completion of Study 6 for ColoSTAT. Study 6 confirmed that the third-party commercially manufactured ColoSTAT prototype test-kid demonstrated a high level of accuracy for the detection of colorectal cancer via a simple blood test. 

This test utilised a third-party, commercially developed test-kit which proved that the test was reproducible, salable and consistent. Study 6 demonstrated an increase in performance over Rhythm’s earlier testing results announced in November 2020.

The company will now progress to Study 7, which involves a ~1000 patient clinical trial across ten clinical trial sites. The newly appointed sites will provide geographical diversity across four states. These trials will ultimately support regulatory submissions. In particular, for the Conformitè Europëenne (CE) Mark and the Therapeutic Goods Administration (TGA) in Australia. 

Rhythm share price eyes global opportunity 

Rhythm highlights the growing burden of colorectal cancer in the US. The US Preventative Services Task Force currently recommends the screening age to be reduced from 50 to 45 years. This would increase the targeting screening population in the US to ~144 million people, up from 94 million. The US Centres for Medicare and Medicaid Services has also released a draft decision outlining the criteria for reimbursement of current and future blood-based colorectal cancer screening tests. Rhythm also notes that its ColoSTAT testing kid would be able to meet the requirements for reimbursement eligibility in the US. This comment was based on the Study 6 performance. 

Comments from the CEO

Rhythm CEO, Glenn Gilbert is pleased with the company’s results today and eyes future opportunities to commercialise the ColoSTAT test:

We continue to target ColoSTAT® as a disruptive cancer detection technology for the global mass screening market to address the growing burden of colorectal cancer. The completion, increase in performance and generally positive outcome of Study 6, is a critical milestone for the Company as we progress our clinical trial, and importantly, how we now consider our entry plans for the global markets, including the US.

Additionally, in Rhythm’s half-year results, the company notes that it remains fully funded to execute its development plan. Furthermore, Rhythm ended the December 2020 period with a cash balance of $6.02 million. 

More reading

• Which ASX healthcare shares saw the biggest gains in February?

Motley Fool contributor Kerry Sun 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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The Clover Corporation Limited (ASX: CLV) share price is surging this morning following the release of its results for the first half of FY21.

At the time of writing, the specialist ingredients company’s shares have climbed 5.62%, trading at $1.41.

Let’s take a closer look and see how the company performed over the period.

What were the financial highlights?

The Clover share price is climbing this morning despite the group reporting a set of negative numbers.

For the six months ending 31 January 2021, Clover delivered total net sales revenue of $29.4 million, reflecting a 21.7% decrease on the prior corresponding period (pcp). The soft result was primarily driven by difficult trading conditions caused by COVID-19 across the infant formula industry.

The Chinese market experienced supply channels fluctuations as demand from Daigou’s tumbled with international travel halted, affecting ‘grey market’ importation.

Adding to the company’s woes, local Chinese manufacturers have increasingly become more competitive with international brands. This includes pricing war and aggressive channel strategies, which has led the Australian and New Zealand market to record a fall in revenue.

Elsewhere, however, Clover grew revenue slightly in Europe, Asia and its United States segments, based on new customers and products.

Operating expenses came to $4.6 million for the first half, a drop of 15% on this time last year. The reduction was attributed to management’s focus on limiting discretionary spending through several initiatives. It’s worth noting that the company has also put many new product programs on hold as customer’s staff continue to work from home.

On the company’s bottom line, net profit after tax (NPAT) sank to $2.5 million, which is a heavy fall of 45.8% over H1 FY20. While expenses were curtailed, one-off impacts such as start-up costs in Melody Dairies and ongoing legal fees were to blame. The latter is associated with enforcing the company’s intellectual property rights against Pharmamark Nutrition Pty Ltd.

Clover closed the period with a cash balance of $9.8 million, a slight increase of $0.6 million on the prior comparable term. Total current liabilities stood at $6.5 million, down from $10.9 million achieved in H1 FY20.

Despite the poor result, the board declared a fully franked dividend of 0.5 cents per share to be paid on 29 April 2021.

Outlook for the Clover share price

Looking ahead, Clover revealed that global uncertainty is leading to a slow recovery in the infant formula market. With this in mind, it expects revenue for the entire FY21 period to be between $60 million and $70 million.

In addition, the company stated that it would seek to pursue opportunities that will enhance growth across its customer base. It said that establishing new sources of raw materials and rolling out new product applications will advance the business’ prospects.

The Clover share price has lost close to 30% of its value over the past 12 months. Year-to-date, the story is no different, with its shares down almost 20%.

More reading

• No ASX dividend share is perfect, but Soul Patts (ASX:SOL) is more perfect than most

Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited. 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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The Piedmont Lithium Ltd (ASX: PLL) share price has been a very strong performer on Tuesday morning.

At the time of writing, the North American-based lithium company’s shares are up 9% to $1.06.

This leaves the Piedmont Lithium share price trading within a whisker of its all-time high of $1.09.

Why is the Piedmont Lithium share price charging higher?

Investors have been buying Piedmont Lithium shares today after it announced the commencement of a definitive feasibility study (DFS). This study is for its integrated North Carolina lithium hydroxide operations and will include Metso Outotec’s innovative alkaline pressure leach technology.

According to the release, using Metso Outotec’s technology, which omits the acid roasting step of conventional spodumene conversion, air emissions from the chemical operations are expected to be reduced compared with previous studies. Furthermore, the consumption of sulphuric acid and sodium sulphate waste products will be eliminated.

Management notes that the DFS will also evaluate enhancements to its North Carolina operations. This includes the installation of solar generating capacity, in-pit crushing systems, and the elimination of haul trucks from its operations plan. These are all expected to improve both carbon emissions and project economics.

What now?

The DFS is expected to be completed by the end of the third quarter of 2021. Ahead of that, the company intends to update investors with a preliminary economic assessment of the integrated business, including the Metso Outotec technology, and a mineral resource estimate with the second quarter.

After which, if everything goes to plan, the construction of the concentrate operations is anticipated to be completed by the end of 2022, and the chemical plant is expected to be completed in 2023.

Piedmont Lithium’s President and CEO, Keith D Phillips, commented: “Demand for locally and ethically-sourced battery raw materials is accelerating, and Piedmont is engaging in multiple initiatives to meet this opportunity in the most sustainable way possible. With the backdrop of new executive orders supporting the domestic battery supply chains, we are very pleased to launch an integrated definitive feasibility study to advance our North Carolina operations.

“In adopting the innovative Metso Outotec process we hope to deliver enhanced DFS economics while also positioning the Piedmont Lithium Project to have a lower environment impact than any of the lithium hydroxide projects currently operating and under construction around the world.”

More reading

• Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher
• Here’s why the Piedmont Lithium (ASX:PLL) share price is jumping 11% today
• Here’s why the Piedmont (ASX:PLL) share price jumped 10% today
• These 2 ASX mining shares have gained over 8% this week
• Why the Piedmont (ASX:PLL) share price just hit an all-time high

Motley Fool contributor James Mickleboro 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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A few ASX shares are growing really rapidly, which may mean that they’re worth looking at.

Businesses that are increasing the revenue and profit at a very fast pace may be able to deliver good shareholders.

Technology businesses in-particular are growing at a very fast rate in reaction to some COVID-19 impacts.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster is one of the ASX shares that have seen the most growth over the last year after the COVID-19 crash.

Over the last year the Temple & Webster share price has risen 342%. The ASX retail share has benefited from the high level of interest from shoppers in digital channels.

In the Temple & Webster half-year report, it revealed that active customers more than doubled to 678,000. Not only that, but revenue per active customer increased by 6% to $401 due to a higher level of repeat buying.

Not only is Temple & Webster increasing its marketing spending as it gets bigger, but its conversion rate is also improving along with a higher customer satisfaction rate. It has done a number of things to make things better for customers including: better range and quality, it doubled capacity in the ‘care team’, added more carriers for bulky delivery, invested in data integration for self-service and AI-assisted help, and it’s working with logistics partners in peak periods.

Temple & Webster generated revenue growth of 118% to $161.6 million and earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 556%.

The company shared some reasons why investors should be interested in the business. The ASX share said it’s the leading pure play online retailer for furniture and homewares in Australia. It has a large addressable market with accelerating online adoption. Finally, Temple & Webster says it’s profitable with strong top-line growth and a debt free balance sheet.  

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is an ASX share that has benefited from a rapid shift to digital payments over the last 12 months.

The tech business provides tools and services so that churches can manage their donations and connect with their congregations. One benefit of Pushpay’s offering is that it has a livestreaming function.

Pushpay’s FY21 interim result included a number of strong growth statistics including 203% growth of operating cashflow to US$27 million and earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) growth of 177% to US$26.7 million.

The combined offering of Pushpay and Church Community Builder, called ChurchStaq, is proving to be popular with churches and may help increase the stickiness of those clients as they’re getting all the benefits that Pushpay has to offer.

The ASX share continues to boast of increasing operating leverage and this was shown in January 2021 when it increased its EBITDAF guidance for FY21 once again with the forecast range now US$56 million to US$60 million. Processing volume over the month of December 2020 was slightly higher than the company’s internal forecast.

Will Pushpay’s profit margins keep rising? Pushpay said it expects operating leverage to continue to accrue to the business over the rest of FY21.

The Pushpay share price is valued at 22x FY23’s estimated earnings according to Commsec.

More reading

• 10 of the best ASX shares to buy in March
• 2 fantastic ASX shares with long runways for growth
• Will the ASX share e-commerce boom last?
• Why Afterpay, Nearmap, Temple & Webster, & Z Energy are tumbling lower
• 2 great ASX tech shares to buy today

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX and Temple & Webster Group Ltd. The Motley Fool Australia has recommended PUSHPAY FPO NZX and Temple & Webster Group Ltd. 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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The BARD1 Life Sciences (ASX: BD1) share price is on watch today after positive results from the evaluation of its EXO-NET product in pancreatic cancer. 

Let’s take a closer look at the announcement and what this means for the BARD1 share price. 

What’s driving the BARD1 share price higher? 

BARD1 maintains a cancer diagnostics portfolio. This includes the commercialised hTRET test which is used as a supplement to urine cytology tests. Additionally, the portfolio also includes diagnostics tests in development for ovarian, breast, lung, prostate, and pancreatic cancers. The group is working towards commercialising its proprietary Molecular NET technology. In particular, its lead EXO-NET product designed to capture and purify exosomes in a rapid, scalable and cost-effective manner. 

There are currently multiple EXO-NET evaluations underway. These evaluations are being conducted by various academic and industry partners. Notably, the partners include the University of Sydney, University of Queensland, Minomic International and VivaZome Therapeutics. 

On Tuesday, BARD1 announced positive results from a collaborative research study. The intention of the study was to evaluate its EXO-NET exosome capture technology and Minomic’s anti-GPC-1 antibody. Primarily, this technology is used for the detection of pancreatic cancer. The study found that EXO-NET was highly effective at isolating exosomes from both pancreatic cancer and healthy control samples. While the anti-GPC-1 antibody appeared to bind specific pancreatic cancer exosomes for pancreatic cancer patients. 

BARD1 CEO, Dr Leearne Hinch was pleased with the results and commented on the next steps for EXO-NET: 

This is a very encouraging result that clearly demonstrates the commercial potential of our soon-to-be launched RUO EXO-NET™ product for capturing exosomes and the feasibility of using GPC-1+ exosomes for detection of pancreatic cancer. BARD1 and Minomic are extremely pleased by this outcome and will discuss how to advance the project towards development of an exosome-based GPC-1 test for early detection of pancreatic cancer to improve patient outcomes and survival for this important unmet need.

What’s in store for 2021? 

BARD1 is making significant progress in the development and commercialisation of its diagnostic solutions. In particular, its BARD1, SubB2M, Molecular NETs, and hTRET platforms for healthcare professionals and patients.

BARD1 will continue to test the EXO-NET in collaboration with other academic and industry partners. The company believes the product is on track for commercial launch in 2021.

More recently, an Australian patent was granted for hTERT. The hTERT patent now has granted patents in Australia, China, Europe, Japan and the United States. Additionally, there are currently pending patents in Israel. Moreover, hTERT revenue is in its early days, with the product generating $148,140 for the half-year ended 31 December 2020. 

SubB2M is a unique cancer probe that is currently being used in in-house research programs for the detection and monitoring of prostate and pancreatic cancers and used in collaboration with Griffith University to develop SubB2M-based tests for the detection of ovarian and breast cancers. 

The company currently has a market capitalisation of approximately $230 million with $7.3 million cash at 31 December 2020. 

 

More reading

• Why the BARD1 (ASX:BD1) share price is climbing 6% today
• These small cap ASX shares surged more than 100% in February
• BARD1 (ASX:BD1) share price plummets 15% on legal proceedings

Motley Fool contributor Kerry Sun 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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