Percheron Leads Mixed Healthcare Week as Devices Win New Contracts

Percheron Therapeutics (ASX:PER) was the clear leader, rising 66.67% after appointing Dr Michael Baker as chief executive ahead of the HMBD-002 Phase II trial. Baker starts on 5 October, while outgoing chief executive Dr James Garner remains on the board. Investors appear to have welcomed the change as the company prepares a later-stage study, which tests whether the treatment works in a larger patient group.

ResMed Inc. (ASX:RMD) climbed 10.95% after fiscal 2026 revenue rose 10% to US$5.65 billion. The sleep-health company also bought Noctrix Health and agreed to sell MatrixCare for US$490 million. The results gave investors a clear reason to buy, although patent disputes and changing rules remain risks.

Starpharma (ASX:SPL) moved the other way, falling -8.23% after raising A$32 million through a heavily supported entitlement offer. The money will fund a Phase I trial of its DEP HER2-Lutetium cancer treatment. Phase I is an early human study that mainly checks safety. The fall suggests some shareholders sold after the new shares were issued, even though the offer received a 99% take-up rate.

Medical devices win hospital orders

ReNerve (ASX:RNV) rose 8.11% after India approved its NervAlign nerve cuff. The approval allows commercial sales in a large nerve-repair market. NetCentrix Ventures will help sell the product. ReNerve still needs to turn approval into orders and regular revenue.

Pro Medicus (ASX:PME) secured a seven-year, A$23 million cloud imaging contract with St Luke’s Health System. Its Visage 7 software will go live across three US states from the first quarter of 2027. Imricor Medical Systems (ASX:IMR) also began selling NorthStar systems to two major US children’s hospitals. Its US revenue remains small at US$60,500 for the June quarter, so future sales must grow quickly to support its larger spending plans.

Funding keeps clinical programmes moving

EBR Systems (ASX:EBR) passed 100 commercial WiSE implants and won purchasing agreements with HCA, Advocate Health and CHRISTUS Health. US Medicare officials have also started reviewing national coverage. That review could affect how widely hospitals can use the heart device. EBR is also moving to a larger factory and has raised most of a planned A$150 million.

Across smaller biotechnology companies, AdAlta (ASX:1AD) reported all five mesothelioma patients alive at the latest July follow-up. Its higher-dose group produced stronger results, but the weekly share price was flat and the stock fell 25% after reopening at 0.004. Early gains therefore evaporated. Bio-Gene Technology (ASX:BGT) also fell -4.35% after issuing new shares and options in a A$3.275 million funding deal. New shares can reduce each existing holder’s percentage ownership, which may explain the selling.

Commercial progress across healthcare

Integral Diagnostics (ASX:IDX) expects fiscal 2026 revenue of about A$788 million to A$790 million, up 25%. Operating profit is forecast to rise 30%, while operating net profit is expected to increase 50%. New chief financial officer Jenny Martin will replace Craig White. The figures show stronger trading, but the company still carries debt from its expansion.

Other companies added practical steps towards sales. Talius (ASX:TAL) won an A$850,000 order from Hato Hone St John in New Zealand, adding 8,000 devices and about A$55,000 in annual recurring revenue. Annual recurring revenue is income expected to repeat each year. Austco Healthcare (ASX:AHC) bought its South Australian reseller for A$2.88 million, while Enlitic (ASX:ENL) began its first US software deployment and secured about US$50,000 in annual recurring revenue.

Drug and diagnostic developers also reported progress. Alterity Therapeutics (ASX:ATH) gained US patent protection for ATH434 until at least 2045. Proteomics International (ASX:PIQ) received Australian patent acceptance for its endometriosis blood test until 2041. NeuroScientific Biopharmaceuticals (ASX:NSB) will meet the US Food and Drug Administration on 31 August about its planned Crohn’s disease study. A Pre-IND meeting is an early discussion with regulators before a company seeks permission to start a US trial.

Leadership and balance-sheet changes rounded out the week. Green Cross Health (ASX:GXH) will appoint a new chief executive after selling its medical division and returning its attention to pharmacies. Anteris Technologies (ASX:AVR) reported a A$51.7 million first-half loss while using funds from a A$320 million capital raise to expand its heart-valve trial. Rua Bioscience (ASX:RUA) approved a NZ$600,000 convertible note to buy stock for its UK medicinal-cannabis contract. Conversion would turn the debt into shares, which could increase the number of shares on issue.