Stocks of the Hour: Orthocell, Telix Pharmaceuticals, Asra Minerals

Company News

by Tim McGowen

Orthocell (ASX:OCC) recently signed a global exclusive licence and distribution agreement with BioHorizons Implant Systems Inc, one of the largest dental implant companies in the world. In consideration of the license granted, Orthocell has now received in cash $21,461,686. “The agreement with BioHorizons represent a significant milestone for Orthocell and provides further external commercial and technical validation of the CelGro™ collagen scaffold platform, from which the Striate+™ dental products were developed,” said Orthocell MD Paul Anderson. Shares are trading 2.6 per cent higher at 39 cents.

Telix Pharmaceuticals Limited (ASX: TLX) today issued its Appendix 4C quarterly cash flow statement report for the quarter ended 30 June 2022. The report stated thatchy have recorded $22.5 million in global sales for its Illucix cancer imaging and diagnosis product.Net cash outflows for the June quarter were $25.8 million and as at June 30 it had cash on hand of $122.6 million. TLX CEO Dr Christian Behrenbruch, said: “The U.S. commercial launch of Illuccix is off to a strong start. This result reflects the efficacy of our differentiated business model in a large and growing market. We’ve delivered doses across the entire country, demonstrating the value of our nationwide pharmacy distribution partnerships and with industry leading on-time delivery.” Dr Christian Behrenbruch also added: “ Today we’ve reported a 10-fold increase in quarter on quarter revenue, delivering $22.5 million in global sales for the June quarter. Of this $19.5 million has been generated from sales of our prostate cancer imaging agent, in our first ten weeks in market in the U.S. Launch is off to a great start, reflecting the high demand for PSMA imaging for prostate cancer. With reimbursement effective from 1 July we expect to see further sales growth.” Shares are trading 11.9 per cent higher at $6.23.

Asra Minerals (ASX:ASR) has received an interim mineralogical report confirming the company’s Yttria clean heavy rare earths elements (REEs) discovery at its flagship Mt Stirling project in Western Australia importantly is conducive to low-cost processing. Chairman Paul Summers said: "It's rare to progress a new and unique discovery like ASRA's Rare Earths without some negatives in the pursuit of an economic resource. Yet we find ourselves today with a very advanced programme approaching metallurgy and without any negatives presenting themselves. Our team of very experienced consultants are becoming increasingly excited at our prospect and its significance in the Rare Earths space". Shares are trading flat at 2 cents.

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