Top performing ASX life science companies 26 October

ASX-listed Impedimed Limited Pharmaceuticals (ASX:IDP), Avita Medical (ASX:AVH), and Neuren Pharmaceutical (ASX:NEU) lead in share price increase for 2023 while Lumos Diagnostics (ASX: LDX) tops Q3 rankings.

AusBiostock data (August 2023) reveals the market capitalisation of the 178 ASX-listed life science companies has decreased $231 billion, reflecting the broader stock market trends and declines globally. AusBiotech previously reported in April 2023 that the market capitalisation for Australia life sciences sector had grown to $255 billion.

The data also shows 8.5 per cent of listed companies have a market cap of more than $1 billion, while 31 percent of companies are worth more than $100 million. Identified as a key metric in AusBiotech's Biotechnology Blueprint decadal strategy, the proportion of biotech companies achieving market valuations greater than $100 million measures the industry's ability to create companies of significant future value.

Impedimed Limited is reported as the top earner for the year, with a reported share price of $0.20 (as at 4 August 2023) and a market return of 170.27 percent (see full data below). This is a solid increase when comparing Impedimed's current share price to the $0.07 share price it had during the same period in the year prior (August 2022).

In an Australasian Biotechnology Journal September 2022 article authored by Scott Power, Senior Research Analyst, Morgans Financial, Scott "called out" two listed life science companies he felt were underpriced, including Impedimed.

"IPD is waiting for a decision from the National Comprehensive Cancer Network as to whether its technology will be included in the cancer treatment guidelines. Positive outcomes for this company will see a significant re-rating of share price."

Meanwhile, Avita Medical (ASX:AVH) and Neuren Pharmaceuticals (ASX:NEU) come in second and third respectively for annual share price increase, with Avita reporting a share price of $4.95 and a market return of 156.48 percent while Neuren reported a share price of $12.15 and market return of 125 percent.

AusBiostock Q1 2023 data revealed Avita Medical had the second best quarterly return of all listed life science companies at 85.95 percent, while Neuren Pharmaceutical had reported the highest share price increase for 2023 and boasted a Q1 quarterly return of 258.59 percent.

At the end of Q3 2023, Lumos Diagnostics has topped the Q3 rankings with a quarterly return of 453.33 percent.

In the first biotech IPO on the ASX since April 2022, Curvebeam AI (ASX:CVB) made its debut on the ASX in early August after concluding its pre-initial public offering (IPO) private placement of $25 million.

AusBiotech invites qualified investors, including venture capital firms, private equity investors, high-net-worth individuals, research analysts, brokers, family offices, to access their complimentary tickets to attend AusBioInvest 2023, providing them with a valuable opportunity to make meaningful connections with both private and listed companies, hear the latest market updates, and explore potential investment prospects.

Register your interest here.