ASX Healthcare Stocks to Watch in September 2026: PYC Therapeutics (ASX:PYC), Nanosonics (ASX:NAN) and PolyNovo (ASX:PNV)

Sonal Goyal

14 September 2026 08:39 PM AEST

ASX Healthcare Stocks to Watch in September 2026: PYC Therapeutics (ASX:PYC), Nanosonics (ASX:NAN) and PolyNovo (ASX:PNV)

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PYC Therapeutics (ASX:PYC), Nanosonics (ASX:NAN) and PolyNovo (ASX:PNV) operate across different areas of healthcare and medical technology. PYC Therapeutics is developing RNA therapeutics for genetic diseases, Nanosonics develops infection-prevention technologies for medical device reprocessing, and PolyNovo commercialises synthetic polymer products used in burns, complex wounds and soft-tissue reconstruction. Their 2026 updates covered clinical development, regulatory progress, product commercialisation and financial performance.

PYC Therapeutics (ASX:PYC)

PYC Therapeutics is a clinical-stage biotechnology company developing RNA therapies that target genetic diseases. Its proprietary delivery platform combines RNA therapeutics with cell-penetrating peptides designed to enable therapeutic molecules to enter target cells. The company’s programs cover diseases affecting the eye, central nervous system and kidneys.

Funding Program

PYC Therapeutics (ASX:PYC) completed a major Equity raising during the first quarter of 2026. The institutional component of its entitlement offer and Placement raised approximately AUD 537 million, while the retail entitlement offer subsequently raised approximately AUD 47 million at AUD 1.50 per new share. The retail component was completed on 4 March 2026.

Nanosonics (ASX:NAN)

Nanosonics develops infection-prevention technologies used in medical device reprocessing. Its established trophon platform provides automated high-level disinfection for ultrasound probes, while its CORIS system is being developed for automated cleaning of flexible endoscopes.

FY26 Results

For the year ended 30 June 2026, Nanosonics (ASX:NAN) reported Revenue of AUD 203.9 million, an increase of 3% on the prior corresponding period. On a constant-currency basis, revenue was AUD 211.5 million, representing growth of 6%.

The company reported EBIT of AUD 16.0 million. Its global cumulative trophon installed base increased 6% to 39,230 devices, while total trophon unit placements rose 9% to 4,230 units. Cash and cash equivalents were AUD 155.2 million at the end of FY26, with no Debt reported.

Nanosonics also completed an AUD 20 million on-market share buyback during FY26 and announced a further buyback of up to AUD 40 million for FY27.

PolyNovo (ASX:PNV)

PolyNovo develops medical products using its proprietary NovoSorb synthetic polymer platform. Its portfolio includes NovoSorb BTM, used in burns, trauma and surgical reconstruction, and NovoSorb MTX, a flexible scaffold developed for complex wounds.

FY26 Results

PolyNovo (ASX:PNV) reported total FY26 revenue of AUD 150.0 million, an increase of 16.1%. Commercial sales reached AUD 138.4 million, representing growth of 16.7%.

US commercial sales were AUD 102.1 million, while NovoSorb MTX revenue reached AUD 12.6 million. MTX sales increased 89.6% during the year.

Underlying EBITDA was AUD 13.4 million, up 50.4%, while statutory EBITDA was AUD 12.1 million. Net profit after tax was AUD 7.3 million. PolyNovo reported Operating Cash Flow of AUD 23.1 million and free cash flow of AUD 9.4 million, with cash and cash equivalents of AUD 35.4 million at 30 June 2026. Gross Margin was 89.0%.

The FY26 result included non-recurring effects associated with a fire at the company’s R&D Innovation Centre and related insurance recoveries.

2026 Developments

PYC Therapeutics (ASX:PYC) has continued clinical development across its RNA therapeutics pipeline following its 2026 Capital raising. VP-001, PYC-001 and PYC-003 remain within clinical development programs, while PYC-002 targets Phelan-McDermid syndrome.

Nanosonics (ASX:NAN) reported AUD 203.9 million in FY26 revenue and expanded its cumulative trophon installed base to 39,230 devices. Its FY27 activities include the commercial rollout of CORIS alongside continued development of the trophon franchise.

PolyNovo (ASX:PNV) reported FY26 revenue of AUD 150.0 million and commercial sales of AUD 138.4 million. Its 2026 activities include wider use of the NovoSorb platform, growth in MTX sales and work toward the planned US regulatory submission for NovoSorb BTM in full-thickness burns.

FAQs

Q: What clinical programs is PYC Therapeutics (ASX:PYC) developing?

A: PYC is developing RNA therapeutics including VP-001 for RP11, PYC-001 for autosomal dominant optic atrophy, PYC-002 for Phelan-McDermid syndrome and PYC-003 for autosomal dominant polycystic kidney disease.

Q: What did Nanosonics (ASX:NAN) report for FY26?

A: Nanosonics reported FY26 revenue of AUD 203.9 million, EBIT of AUD 16.0 million and a cumulative trophon installed base of 39,230 devices.

Q: What were PolyNovo’s (ASX:PNV) main FY26 figures?

A: PolyNovo reported total revenue of AUD 150.0 million, commercial sales of AUD 138.4 million, underlying EBITDA of AUD 13.4 million and net profit after tax of AUD 7.3 million.

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