CORAL GABLES, FL / ACCESSWIRE / November 26, 2018 / Healthcare stocks remain popular during the latest bout of selling pressure within the broader markets. Despite potential drug-price controls, investors are seeing a number of strong drug pipelines and promising clinical trials. The Frost & Sullivan Healthcare and Life Sciences experts are predicting big disruptions, transformationsand innovations in the coming years as the healthcare industry continues to overhaul outmoded business models.
"Our interactive workshop is designed to help managers and CEOs understand key issues affecting the healthcare industry globally," noted Sandeep Sinha, Vice President & Head, Healthcare and Life Sciences, Frost & Sullivan. "Advances in areas ranging from cancer immunotherapy products to blood testing, as well as the convergence of cutting-edge technology such as artificial intelligence and blockchain will help shape the healthcare industry into a much-anticipated, value-based care paradigm."
Healthcare stocks like Premier Health Group, Inc. (PHGRF) (PHGI), BioScrip, Inc. (BIOS), ReShape Lifesciences Inc. (RSLS), and Novavax, Inc. (NVAX) have pushed higher this week following the increased market momentum.
Premier Health Group, Inc. (PHGRF) (PHGI) is focused on developing innovative approaches that combine human skill based expertise with emerging technologies for the healthcare industry. This month, Premier solidified its stance on the increasing opportunity that the legal marijuana industry has presented. This week Premier Health announced an update on its plan to expand the scope of practice within its primary care clinics to include cannabis.
This move could prove to be and exciting one for Premier. The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
Premier Health Group, Inc. (PHGRF) (PHGI) has engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education. Furthermore, the Company is actively recruiting additional physicians for its existing clinics and a cannabis focused physician that is licensed in Canada.
Premier Health Group, Inc. (PHGRF) (PHGI)'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. The company currently has an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally.
"With over 110,000 active patients in our clinic ecosystem it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family's health. Providing our family physicians with the appropriate tools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative," said Dr. EssamHamza, CEO of Premier.
BioScrip, Inc. (BIOS) is an independent national provider of infusion and home care management solutions. Last week the company announced that Daniel E. Greenleaf, President and Chief Executive Officer, and Stephen M. Deitsch, Senior Vice President, Chief Financial Officer and Treasurer, will present at the Bank of America Merrill Lynch 2018 Leveraged Finance Conference on December 5.
This came just after the company reported its quarterly financials. Net revenue of $181.0 million, compared to $198.7 million in the third quarter of 2017. Excluding exited UHC therapy line revenue from the prior year quarter, netrevenue increased approximately 5%. Furthermore, adjusted EBITDA came in at a value of $16.4 million, 25% above the prior year quarter, driven by a 510 basis point improvement in gross profit margin, reflecting ASC 606 pro forma adjustments.
Daniel E. Greenleaf, President and Chief Executive Officer, commented, "BioScrip achieved record third quarter adjusted EBITDA driven by revenue growth, higher gross profit margin, and ongoing operating expense discipline. We delivered comparable revenue growth for the first time since the fourth quarter of 2015. Given the team's strong third quarter performance and our momentum that is expected to continue into the fourth quarter, we are increasing full year 2018 guidance for revenue between $710 million and $720 million*, and maintaining our adjusted EBITDA guidance between $54 million and $58 million."
Shares were up as high as $3.63 during the first half of the Monday session.
ReShape Lifesciences Inc. (RSLS) saw its shares take off during the premarket hours on Monday morning. The company is a developer of minimally invasive medical devices to treat obesity and metabolic diseases. Today ReShape announced new data that was presented during a poster presentation at the recent ObesityWeek 2018 conference in Nashville, Tennessee.
Data presented in the poster highlighted results of experiments that were conducted in obese type 2 diabetic rats and in a type 2 diabetic pig model. When subjected to block and stimulation following ingestion of glucose, blood glucose of the diabetic pigs was significantly decreased compared to the control. In an additional obese and type 2 diabetic-Zucker rat study, a similar and significant result was observed compared to the control.
"If this data can be replicated and translated into human studies, this would be a genuinely new approach for treatment of type 2 diabetes mellitus," stated Dr. Charles Billington, MD, Chief, Section of Endocrinology and Metabolism, Minneapolis VA Health Care System and lead study investigator.
Novavax, Inc. (NVAX) saw highs of $1.93 prior to the opening bell on Monday. The company was upgraded by Piper Jaffray from Neutral to Overweight. The company recently announced several management promotions.
"We are pleased to announce several key management promotions to further support the advancement of our company and its lead clinical programs into commercial stage," said Stanley Erck, President and Chief Executive Officer of Novavax, Inc. "These individuals have worked closely with our senior leadership team and have made significant contributions to ensure we drive our ResVax and NanoFlu programs towards licensure. We are extremely fortunate to have a seasoned in-house team that continues to deliver results."
ResVax™, its RSV vaccine for infants via maternal immunization, is the only vaccine in a Phase 3 clinical program and is designed to prevent the second leading cause of death in children under one year of age worldwide. Novavax is also advancing NanoFlu™, its quadrivalent influenza nanoparticle vaccine, to address key factors that can lead to the poor effectiveness of currently approved flu vaccines.
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