Key Highlights

  • Avecho Biotechnology Ltd (ASX:AVE) rose 13.33% to $0.017 during the session; its latest announcement, dated 31 August 2026, said recruitment had recommenced in its Phase III insomnia trial.
  • Invion Ltd (ASX:IVX) was up 12.12% at $0.037; its announcement dated 21 October 2026 outlined two financing arrangements covering up to approximately 85% of clinical trial costs.
  • Neurizon Therapeutics Ltd (ASX:NUZ) was up 7.60% at $0.085; its announcement dated 6 October 2026 detailed written FDA feedback on the NUZ-001 regulatory pathway.

Three ASX-listed healthcare and biotechnology companies were higher on Friday 23 October 2026 while the broader market slipped. At 12:04 pm, the S&P/ASX 200 stood at 8,762.60, down 0.35% (30.60 points). During the session, Avecho Biotechnology Ltd (ASX:AVE) rose 13.33% to $0.017, Invion Ltd (ASX:IVX) was up 12.12% at $0.037, and Neurizon Therapeutics Ltd (ASX:NUZ) was up 7.60% at $0.085. All three develop clinical-stage therapies, and this article sets out what each has most recently reported.

Avecho Biotechnology Ltd (ASX:AVE): Phase III Insomnia Trial Recruitment

Avecho is a Melbourne-based company developing drug delivery technology and a cannabidiol (CBD) capsule for insomnia. Its shares rose 13.33% to $0.017 during the session, the largest percentage gain of the three.

In an announcement dated 31 August 2026, Avecho said recruitment had recommenced for the final stage of its pivotal Phase III trial of a TPM-enhanced CBD soft-gel capsule. About 320 additional participants are to be enrolled in a second cohort, bringing the study to its originally planned 519 completers. The company expects recruitment to be completed within approximately 12 months once further sites are active. It referred to a June 2026 interim analysis of 244 participants, after which the independent Data Monitoring Board unanimously recommended continuing without a sample size increase. Avecho described the study as multi-centre, randomised, double-blind and placebo-controlled, with nightly doses of 75mg CBD, 150mg CBD or placebo over eight weeks. The announcement predates the session by almost two months, so it is not presented as the reason for the move.

Invion Ltd (ASX:IVX): Financing Arrangements for Clinical Programs

Invion is a Melbourne-based life-science company developing the Photosoft technology for cancers, ophthalmic and infectious diseases. Its shares were up 12.12% at $0.037 during the session.

An announcement dated 21 October 2026 described two financing arrangements expected to cover up to approximately 85% of its current and future clinical programs, including the ongoing non-melanoma skin cancer trial. Under a Co-Funding and Option Deed, Point8 Capital will fund 50% of clinical research organisation invoices through a facility of up to A$25 million. Rockford Capital has committed to a secured facility of up to A$7.5 million tied to eligible R&D tax incentive expenditure, carrying a 16.0% annual interest rate and a final maturity date of 30 April 2029. In consideration for the Point8 deed, Invion will grant 11,055,313 unlisted options, subject to shareholder approval. The release is dated two days before this session and is not linked to the day's price change.

Neurizon Therapeutics Ltd (ASX:NUZ): FDA Feedback on NUZ-001

Neurizon is a late-stage clinical biotechnology company focused on neurodegenerative diseases, with its lead candidate NUZ-001 under investigation for amyotrophic lateral sclerosis (ALS). Its shares were up 7.60% at $0.085 during the session.

In an announcement dated 6 October 2026, Neurizon said it had received written responses from the US Food and Drug Administration to its Type C meeting request. The feedback addressed the clinical development plan, regulatory pathways and biomarkers, including plasma neurofilament light chain, and will inform preparation of a New Drug Application. The company said the HEALEY ALS Platform Trial Regimen I is fully enrolled, with topline results expected in late Q2 CY2027, and that an NIH-funded expanded access program is expected to begin in Q1 CY2027. It also noted that the FDA advised it may resubmit a request for Fast Track Designation, which the agency had declined in January 2026. The announcement predates the session by more than two weeks, so it is not presented as an explanation for the move.

Market and Sector Context

The S&P/ASX 200 stood at 8,762.60, down 0.35%, at 12:04 pm, so the three healthcare gains were recorded against a lower benchmark. The companies are clinical-stage developers rather than established revenue-generating healthcare groups, and their share prices sit at $0.017, $0.037 and $0.085. At such price levels, a movement of a fraction of a cent can register as a double-digit percentage change. Development-stage biotechnology shares are also tied to timelines for trials, regulatory interactions and funding, and the three companies reviewed here each have such milestones ahead. The percentage moves are reported here as they stood during the session, without attributing them to any single cause, and the figures reflect the share price level at that time. None of the three has a company announcement dated 23 October 2026 in the material reviewed.

Putting the Three Moves Together

Avecho Biotechnology rose 13.33% to $0.017, Invion gained 12.12% to $0.037 and Neurizon Therapeutics was up 7.60% at $0.085 during the session on 23 October 2026, while the S&P/ASX 200 stood at 8,762.60. Their latest announcements were dated 31 August, 21 October and 6 October 2026 respectively, covering a Phase III trial, clinical funding and FDA feedback. The gains ranged from 7.60% to 13.33%, and all three were recorded while the benchmark index was lower, as at 12:04 pm on the day.