Here are the 4 best ASX stocks for March 2024 Nick Sundich, February 29, 2024 Here are the 4 best ASX stocks for March 2024!
Each month, we like to recap our best ASX stocks of the month. We like to look at companies with upcoming catalysts, be it good results (as forecasted by consensus estimates), or other expected news such as clinical trial results. March is a difficult month to pick stocks to buy, because the bulk of companies have released half-yearly results, and there are few that have substantially divergent first halves. Nonetheless, we have found a handful of stocks with upcoming catalysts, or that are worth holding for a few months if you have the patience.
Dimerix (ASX DXB)
Dimerix’s DMX-200 drug targets Focal Segmental Glomerular Sclerosis (FSGS) and Diabetic Kidney Disease. The latter of these is also a kidney disease and represents a US$3bn market per annum.
When you have FSGS, the filters (glomeruli) of your kidneys become inflamed and are damaged by scarring. This makes the filters “leaky” and allows protein from your blood to collect in your urine (proteinuria). For patients with FSGS, the kidneys’ ability to purify (clean) the blood is impaired. This can lead to kidney failure that may eventually requires dialysis or a kidney transplant.
It is undertaking a Phase 3 clinical trial and is expecting to report interim results on or around the middle of March this year. If there are good results here, it will inevitably be good for the share price. The next ‘set’ of results are due in December, and if these are good too, then the company may be able to apply for accelerated approval.
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Nick Sundich, February 29, 2024
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