Healthcare shares split sharply this week, with Biome Australia rising while Nanosonics, Epiminder and Saluda Medical fell heavily.
Profits, trial progress and new approvals competed with cash needs, debt concerns and weaker investor confidence.
- Biome Australia (ASX:BIO) led the major moves after revenue rose 30% and profit reached $3.6 million.
- Nanosonics (ASX:NAN) fell 24.79% despite trophon growth, a planned CORIS launch and a $40 million buyback.
- Epiminder (ASX:EPI) and Saluda Medical (ASX:SLD) dropped more than 23% as investors weighed large losses and ongoing spending.
- Diagnostics, medical devices and imaging companies reported wider sales reach, new approvals and stronger commercial plans.
- Several companies raised capital or warned that cash shortages could affect their ability to continue operating.
The week’s biggest healthcare moves came from Biome Australia (ASX:BIO), up 25.93%, followed by Nanosonics (ASX:NAN), down 24.79%, and Epiminder (ASX:EPI), down 23.91%. Biome reported 30% sales growth and a $3.6 million profit. Nanosonics delivered slower growth and a lower reported operating profit. Epiminder recorded a $42.7 million loss while funding clinical work for its brain-monitoring device.
Profits reward some operators
Biome’s sales reached $23.9 million, while earnings before interest, tax, depreciation and amortisation more than doubled to $2 million before share-based payments. A $2.4 million deferred tax asset also lifted its reported profit. That accounting benefit is not cash, but the company also strengthened its balance sheet and expanded production in Australia, Canada and Ireland.
Strong operating results also came from Austco Healthcare (ASX:AHC), which rose 8.89% after revenue climbed 16% and net profit rose 52% to $9 million. Integral Diagnostics (ASX:IDX) grew revenue 26% to $788.6 million and lifted profit to $22 million. Merger savings exceeded $14 million. These results gave investors clear evidence that scale can improve earnings in healthcare services.
Clinical progress meets large cash bills
Several drug developers reached important trial or regulatory steps. Paradigm Biopharmaceuticals (ASX:PAR) enrolled 538 patients in its Phase 3 trial of Zilosul®, a late-stage study designed to test whether the treatment works safely in a larger patient group. It also raised A$21.74 million. The company’s net loss widened to $56.3 million as trial costs rose.
Clarity Pharmaceuticals (ASX:CU6) increased research spending and reported a $107.2 million loss, but held $178.3 million in cash after a $203 million capital raising. Neurizon Therapeutics (ASX:NUZ) completed enrolment of 250 people in its ALS trial and expects results in late Q2 2027. Actinogen Medical (ASX:ACW) expects key Alzheimer’s trial results in November. In simple terms, these companies have reached important tests, but investors still need to see whether the treatments help patients.
Devices and diagnostics push into new markets
Commercial progress supported several medical technology companies. 4DMedical (ASX:4DX) secured US regulatory clearance and public reimbursement for its CT:VQ™ lung scan. Reimbursement means a US health programme will pay for eligible scans. The company said its addressable market could reach $3 billion. ImpediMed (ASX:IPD) expanded US reimbursement for its SOZO platform to 95% of the population and added heart health and weight-management uses.
International expansion also featured at EMVision Medical Devices (ASX:EMV), where revenue rose 57% as its portable brain scanner moved through a major trial. Control Bionics (ASX:CBL) gained UK registration for NeuroStrip, allowing sales in Great Britain. Imricor Medical Systems (ASX:IMR) and Philips launched a combined MRI solution for heart procedures in approved markets.
Big gaps show investors were not convinced
Price gaps produced mixed outcomes. Early buying in Nanosonics (ASX:NAN) faded into a 24.79% weekly fall, even though its trophon installed base grew 6% and it announced a $40 million buyback. Investors may have wanted stronger reported earnings before supporting the shares.
Other gaps held or extended their gains. Ansell (ASX:ANN) rose 17.45% after profit doubled to US$208.6 million, while Careteq (ASX:CTQ) gained 8.33% after selling its Embedded Health Solutions business and clearing all debt. By contrast, Epiminder (ASX:EPI) and Saluda Medical (ASX:SLD) fell more than 23%. Saluda’s revenue grew 28%, but its adjusted loss widened to US$113.7 million and it warned about its ability to continue without further support.
Bottom Line?
The next week will turn attention to the clinical dates already set in the briefing. Actinogen expects Alzheimer’s trial results in November, while Neurizon expects ALS results in late Q2 2027. Paradigm plans an interim review and final trial results for Zilosul®. Commercial execution will also matter as 4DMedical, OncoSil Medical and Control Bionics turn regulatory approvals into sales.
Questions in the middle?
- Will Actinogen Medical’s November Alzheimer’s results support further development of XanaMIA?
- Can Saluda Medical fund its clinical and commercial plans without raising more money?
- Will Nanosonics’ CORIS launch and $40 million buyback offset concern about its lower reported FY26 earnings?