ASX-listed Impedimed Limited Pharmaceuticals (ASX:IDP), Avita Medical (ASX:AVH), and Neuren Pharmaceutical (ASX:NEU) lead in share price increase for 2023 while Lumos Diagnostics (ASX: LDX) tops third-quarter rankings.
AusBiostock data (August 2023) reveals that the market capitalisation of the 178 ASX-listed life science companies has decreased to $231 billion, reflecting broader stock market trends and global declines. AusBiotech previously reported in April 2023 that the market capitalisation for the Australian life sciences sector had grown to $255 billion.
The data also shows 8.5 per cent of listed companies have a market cap of more than $1 billion, while 31 per cent of companies are worth more than $100 million. Identified as a key metric in AusBiotech’s Biotechnology Blueprint decadal strategy, the proportion of biotech companies achieving market valuations greater than $100 million measures the industry’s ability to create companies of significant future value.
Impedimed is reported as the top earner for the year, with a reported share price of $0.20 (as of 4 August 2023) and a market return of 170.27 per cent. This is a solid increase when comparing Impedimed’s current share price to the $0.07 share price it had during the same period in the year prior (August 2022).
In an Australasian Biotechnology Journal September 2022 article by Scott Power, Senior Research Analyst, Morgans Financial, he “called out” two listed life science companies he felt were underpriced, including Impedimed.
“IPD is waiting for a decision from the National Comprehensive Cancer Network as to whether its technology will be included in the cancer treatment guidelines. Positive outcomes for this company will see a significant re-rating of share price.”
Meanwhile, Avita Medical (ASX:AVH) and Neuren Pharmaceuticals (ASX:NEU) come in second and third, respectively, for annual share price increase, with Avita reporting a share price of $4.95 and a market return of 156.48 per cent while Neuren reported a share price of $12.15 and market return of 125 per cent.
AusBiostock Q1 2023 data revealed Avita Medical had the second-best quarterly return of all listed life science companies at 85.95 per cent, while Neuren Pharmaceutical had reported the highest share price increase for 2023 and boasted a first-quarter return of 258.59 per cent.
At the end of Q3 2023, Lumos Diagnostics topped the third quarter rankings with a quarterly return of 453.33 per cent.
In the first biotech IPO on the ASX since April 2022, Curvebeam AI (ASX:CVB) made its debut on the ASX in early August after concluding its pre-initial public offering (IPO) private placement of $25 million.
AusBiotech invites qualified investors, including venture capital firms, private equity investors, high-net-worth individuals, research analysts, brokers, family offices, to access their complimentary tickets to attend AusBioInvest 2023, providing them with a valuable opportunity to make meaningful connections with both private and listed companies, hear the latest market updates, and explore potential investment prospects.
Register your interest here.