ASX Quarterly Health Wrap: Control Bionics reports strong US...

ASX Quarterly Health Wrap: Control Bionics reports strong US revenue, LTR Pharma makes progress with FDAHealth & Biotech 7 hours ago Nadine McGrath


Health & Biotech BiotechASX Quarterly Health Wrap: Control Bionics reports strong US revenue, LTR Pharma makes progress with FDAHealth & Biotech 7 hours ago Nadine McGrathLTR Pharma held a successful pre-IND meeting with the US FDA during the March quarter. Pic: Getty ImagesSpecial Report: ASX quarterly season is upon us again, with listed companies opening a window to their performance and key activities over the three months to March 31.It’s a key time for investors to zero in on the finer details of ASX-listed firms and get a sense of what is on the horizon.Here, we wrap up report highlights from four standout stocks in the ASX health sector. Control Bionics (ASX:CBL)Revenue for Control Bionics’ US business over six months to end of March highest since FY23Best quarter of revenue in Australia since 2022, driven by improved NDIS approval timesCompletes investment in Neuro Elite Athletics, the company behind NeuroBounce program for athletesThe assistive technology medical device company reported revenue for its US business over the six months to end of March was the highest since FY23, up 20% over the previous corresponding period (pcp).ADVERTISEMENTCONTENT RESUMES ON SCROLLControl Bionics attributed the growth to a code approval under the Healthcare Common Procedure Coding System (HCPCS) by the Centers for Medicare & Medicaid Services (CMS) in the US for its key product Neuronode, a watch-like device to assist cognitive people with physical disabilities.The company said it also achieved a $700,000 in cost savings in North America with margin expansion.Control Bionics said two well-established US operators now have its NeuroNode devices with their sales team and were actively marketing in the US.The company also reported its best quarter of revenue in Australia since 2022 with improved NDIS approval times and a strong sales pipeline driving the success.While the backlog continues to be cleared Control Bionics said it has almost $1 million in applications awaiting NDIS approval.During the quarter it completed its investment in Neuro Elite Athletics, which is the company behind the NeuroBounce program for athletes.During the quarter its launch customer Utah Prep Academy in the US delivered strong results, measurably improving explosive power and vertical leap for elite athletes with Control Bionics’ NeuroStrip.A new cloud-deployed version of NeuroStrip has been launched, providing access to a new SaaS revenue stream along with hardware sales.Cash receipts for the quarter were the highest in 12 months, exceeding $1.6m and up from $1.4m in Q2 FY25, driven by improved sales in the US and Australia.During the quarter founder Peter Ford stepped down from the board and was replaced by Dr Stephanie Phillips, who has more than three decades of clinical, academic and leadership experience in anaesthesia and critical care.Control Bionics finished the quarter with cash of $1.7m.“We are delivering strong sales, cash collection and meaningful progress on our growth initiatives,” CEO Jeremy Steele said.“We’ve found strong commercial appetite for our core IP, the NeuroNode, through our NeuroNode Only strategy. We’ve rolled out this technology now to multiple distributors (both in pilot and contract phases) in multiple geographies.” LTR Pharma (ASX:LTP)Developer of a nasal spray-mist erectile dysfunction treatment LTR Pharma successfully holds pre-IND meeting with US FDA Chief scientific & clinical adviser Professor Eric Chung receives prestigious award for his presentation on SPONTAN LTR announces in quarter new ED nasal spray targeting the US personalised healthcare sector called ROXUS The developer of a nasal spray-mist erectile dysfunction treatment said it delivered significant progress across its regulatory, commercial and scientific objectives during the March quarter.In March, LTR Pharma held a successful pre-IND meeting with the US Food & Drug Administration. Key outcomes included:Endorsement of its non-clinical (toxicology) and chemistry, manufacturing and controls (CMC) development plansAgreement on a pivotal efficacy/safety study and a multi-dose pharmacokinetic study; andClear guidance on the pathway to market through the 505(b)(2) regulatory process.Following the meeting LTRPharma has initiated CMC studies with Aptar Pharma, started extractables and leachables studies required for regulatory documentation and developed specific protocols for the upcoming clinical studies.During the quarter the company’s novel intranasal formulation of vardenafil for ED SPONTAN was recognised at the Urological Society of Australia and New Zealand’s (USANZ) Annual Scientific Meeting.Chief scientific and clinical adviser Professor Eric Chung was awarded the BAUS Trophy — the event’s highest honour — for his presentation of SPONTAN’s clinical results.LTR Pharma said the scientific recognition, voted on by a panel of leading urologists, reinforces SPONTAN as a best-in-class, fast-acting ED therapy, while also attracting strong international interest from urologists and key opinion leaders.During the quarter the company announced a new ED nasal spray targeting the US personalised healthcare sector called ROXUS, representing a expansion of the company’s product portfolio.LTR Pharma also continued to expanded its Australian commercial operations during the quarter through several initiatives and partnerships.Key expenditure for the quarter was continued investment in the joint venture with Restorative Sexual Health for a new online healthcare platform, providing comprehensive men’s health services through telehealth.The company ended the March quarter with cash position of $32.8m.

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