CORAL GABLES, FL / ACCESSWIRE / November 20, 2018 / Technology and healthcare are colliding. New market trends are pushing investors to pay closer attention to the healthcare industry as it has been seen as a safe haven during turbulent times in the broader markets. These new trends in healthcare include things like cloud computing and artificial intelligence.
In fact, according to the "Cognitive Computing and Artificial Intelligence Systems Market in Healthcare" report from ResearchAndMarkets these technologies have gained significant traction. Increased adoption of cognitive and AI platforms can be attributed to their wide application potential across the healthcare industry, including patients and hospitals.
Growth is being projected at a CAGR of +40% by 2023. As new technology trends take shape, here are 4 healthcare stocks to watch this week: Premier Health Group, Inc. (OTC:PHGRF) (CSE:PHGI), AVEO Pharmaceuticals, Inc. (AVEO), MiMedx Group, Inc. (OTC PINK: MDXG) and Cesca Therapeutics Inc. (KOOL).
Premier Health Group, Inc. (OTC:PHGRF) (CSE:PHGI) is focused on developing innovative health care approaches that combine humanskill based expertise with emerging technologies, and will set the gold standard for services in locations of interest worldwide. In line with new healthcare industry trends, Premier Health's subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence (AI). HealthVue currently has an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally.
Earlier this month, Premier solidified its stance on the increasing opportunity that the legal marijuana industry has presented. Last week Premier Health announced that as a part of its expansion plans, Premier Health will enter the Cannabis clinic space by a series of acquisitions, partnerships and/or launching a new Canada -based chain in the first half of 2019.
"Cannabis clinics fit in perfectly with our existing Telemedicine services and comprehensive app plans. The patient will not only be able to see their family doctor with our app, but also connect with their Cannabis clinic healthcare worker, the education nurse and eventually even the pharmacy or LP that is providing the prescription. This team based and encompassing approach will provide the best and most convenient care for our patients," said Dr. Essam Hamza, Chief Executive Officer of Premier Health.
Shares of Premier Health reached highs of $0.64 on Monday; up 8.5% from the previous week's low.
AVEO Pharmaceuticals, Inc. (AVEO) has gained attention within the last few weeks. Earlier this month AVEO announced the triggering of a $2 million milestone payment to AVEO from EUSA Pharma. The milestone payment relates to the commercial launch and reimbursement in Germany of FOTIVDA® (tivozanib) as a first line treatment of adult patients with advanced renal cell carcinoma.
EUSA Pharma is the licensee for tivozanib in Europe, North and South Africa, Latin America and Australasia. The milestone payment is subject to a 30% sublicense fee due to AVEO's partner Kyowa Hakko Kirin and is incremental to the previously-disclosed cash, cash equivalents and marketable securities at September 30, 2018, which AVEO reported would fund operations into the second quarter of 2019.
In addition to this, the company announced today that Michael Bailey, president and chief executive officer, will present at the 30th Annual Piper Jaffray Healthcare Conference in New York.
Shares of AVEO jumped as high as $1.99 during premarket trading on Tuesday.
MiMedx Group, Inc. (OTC PINK: MDXG) has been buzzing with headlines including a NASDAQ delisting notice earlier this month. The company said in a filing with the US Securities and Exchange Commission its audit committee has hired independent legal and accounting advisors to investigate current and prior "sales and distribution practices and other matters."
The company is assessing revenue recognition for all of its sales since Jan. 1, 2012. Despite these events, during the last 2 trading days, the share price of MiMedx has recovered. On November 15, shares of MiMedx hit lows of $2.18. Following this decline, shares of the company traded as high as $3.97 on Monday. During the premarket hours on Tuesday, shares of MiMedx increased higher to $3.99 before the opening bell.
Cesca Therapeutics Inc. (KOOL) shares also jumped on Monday and into Tuesday morning's premarket. The company focuses on automated cell processing and point-of-care, autologous cell-based therapies. On Monday Cesca announced that its device subsidiary, ThermoGenesis® Corp., has received 510(k) clearance from the U.S. Food & Drug Administration (FDA) for its proprietary AXP® II AutoXpress® Platform (AXP II) for clinical blood banking.
Philip Coelho, ThermoGenesis' chief technology officer, commented, "Receipt of 510(k) clearance from the FDA for the AXP II is an important step for the Company and may expand market adoption as it provides cord blood bank customers with an automated system that achieves mononuclear cell (MNC) recoveries >90% and CD34+ stem and progenitor cell recoveries > 95%.”
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