Australia’s stock market appears to be recovering as it closed higher on Monday for a second day in a row. The benchmark, S&P/ASX200, closed Monday up 17.90 points or 0.25% to 7,093.00.
In contrast, the benchmark for the healthcare sector, the S&P/ASX 200 Health Care, ended in the red on Monday with a loss of 0.60%. However, the index has behaved well since the beginning of the quarter with a gain of 2.30%.
This article will discuss recent quarterly updates of three ASX healthcare stocks offering returns of 20% or more on a quarterly basis.
Wellfully Limited (ASX: WFL)
Wellfully Limited, a science-based wellness company, has delivered a 48% return to its investors on a quarterly basis. The company, which focuses on the development of magnetic microarrays and impotent drug delivery technologies, reported cash revenue growth of 312% quarter over quarter.
Likewise, the company’s cash inflows generated by its own brands, REDUCED and SWISSWELL, industry collaborations jumped 205% from Q2 2022 and R&D grants.
In addition, WFL is strengthening the business activities of SWISSWELL Lubricen Knee Patch in the third quarter of fiscal 2022.
Related Reading: Wellfully (ASX:WFL) Shares Jump 7% on US Record
OncoSil Medical Ltd (ASX:OSL)
OncoSil Medical is involved in the development and commercialization of localized radiation therapy to treat pancreatic and biliary tract cancer. The Company’s lead product candidate is OncoSil localized radiation therapy.
Key Company Highlights for the March Quarter:
- Approval of a fully funded trial in Germany, which will provide additional device sales revenue throughout the trial.
- Clearance granted for innovation funding (NUB): German hospitals will receive additional funding for treatments with the OncoSil™ device
Recent updates after quarter end
- First commercial treatment of OncoSilMT device in Spain
- Commercial agreement worth 553,000 Australian dollars with the University Hospital of Fuenlabrada in Madrid,
OSL shares gained almost 32% on a quarterly basis.
Related Reading: OncoSil Medical (ASX:OSL) Shares Jump 14% on G-BA Approval
Withho Biotechnology Limited (ASX: AVE)
Avecho Biotechnology specializes in innovative products for human and animal health using its proprietary TPM® drug delivery system. The company has provided a 20% return to its investors on a quarterly basis.
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Throughout the quarter, the company has been committed to making progress with its cannabidiol (CBD) softgel capsule. This was an over-the-counter registration with the Therapeutic Goods Association (TGA) for an indication related to insomnia.
Also Read: BOT, AVE, ALA: 3 ASX Pharmaceutical Penny Stocks Under $1 With Decent YTD Returns