Bard1 Life Sciences Limited

BD1 Details

Successful Outcome for SubB2M Test: BARD1 Life Sciences Limited (ASX: BD1) is a medical diagnostics company. The company is focused on the development and commercialisation of diagnostic solutions for health care professionals and patients. The Company’s technologies include BARD1, hTERT, SIEN-NET and SubB2M. In a recent update, the company announced that, as per Griffith University’s data, BARD1’s SubB2M technology can be utilized to detect 100% specificity and more than 95% of sensitivity for of all stages of ovarian cancer.

Key Highlights for December 2020 Quarter: BD1 recorded Cash balance of $7.3m at 31 December 2020. During the quarter, BD1 was able to save its administrative costs in full, which is projected to be $450k per annum. In the month of July 2020, BD1 finished the acquisition of Sienna Cancer Diagnostics, which supported the company in strengthening its leadership, business, pipeline, and balance sheet. BD1 has announced about been granted US patent number 10,900,962 entitled ‘Molecular nets and devices for capturing analytes including exosomes’ by the US Patent and Trademark Office (USPTO) on 26 January 2021. The patent family, which is owned by Sienna Cancer Diagnostics Inc, a wholly owned subsidiary of BARD1 Life Sciences Ltd. was registered on July 6, 2017, with an expiry dated on August 19, 2021.

cash balance recorded from 30 June 2020 to 31 December 2020

Cash Highlights (Source: Company Reports)

Outlook: Looking forward, the company is planning to further build its diagnostics portfolio through the acquisition of innovative diagnostic technologies, novel biomarkers and later-stage products which support its existing technologies and development programs.

Stock Recommendation: BARD1 continues to progress its multi-product pipeline based on its game changing BARD1, NET, SubB2M and hTERT technologies. The Company’s R&D programs focus on areas with significant unmet needs, particularly for early cancer detection. In the last one month, BD1 has increased by 459.32% and 340% in the last three months on ASX. The stock is currently trading above the average 52-weeks’ price level range of $0.570-$5.60 On the technical analysis front, the stock has a support level of ~$2.93 and resistance of ~$5.58. Considering, successful test for cancer product development, positive outlook, acquisition synergies, and current trading levels, we recommend a “Hold” rating on the stock at the current market price of $3.30, up by 16.607% as on 22 February 2021, owing to successful outcome for SubB2M test data.

BD1 Daily Technical Chart (Source: Refinitiv, Thomson Reuters)

Imagion Biosystems Limited

IBX Details

Raising Money to Scale Up: Imagion Biosystems Limited (ASX: IBX) is present in the business of R&D of medical imaging technology through its wholly owned subsidiary, Imagion Biosystems Inc. The company is focused on the research and development of the MagSense SPMR technology. IBX serves a range of applications, including detecting cancer, monitoring therapy, and detecting other diseases. Under an oversubscribed placement, IBX has raised $5.6mn to support the company’s development plan for MagSense HER2 breast cancer test and investing in manufacturing scale up. Imagion Biosystems Limited is all set to enroll patients for the MagSenseTM HER2 breast cancer Phase I first-in human study through its first clinical site - Monash Health.

Cash Available for Future Funding: As per the company reports, IBX has an available funds of $13.2mn for funding its future activities, increased from $8.34mn as compared with the previous quarter. During the quarter, the company reported operating cash outflow of $1.5 million against an operating cash outflow of $1.8 million reported in the previous quarter. 

Cash Flows December 2020 Current Quarter (Source: Company Reports)

Outlook: As per the company reports, the R&D and staff costs may see a jump in the coming quarters due to progression of Imagion’s Phase 1 clinical study and the advancement of company development pipeline.

Stock Recommendation: The company recently stated that it has received a total of $299,829.62 for the exercise of options. In the last six months, IBX has increased by 122.2% and by 66.66% during the last three months. The stock is currently trading close to its 52-weeks’ high-level of $0.225. On the technical analysis front, the stock has a support level of ~$0.168 and resistance of ~$0.213. Considering the spike in the stock price over past months, current trading level, and higher expenditure relating to the development plans for its MagSense Project, we are of the view that most of the positive factors of the company have been discounted at current juncture. Hence, we suggest investors to wait for better entry level and give an “Expensive” rating on the stock at the closing price of $0.200 as on 22 February 2021.

IBX Daily Technical Chart (Source: Refinitiv, Thomson Reuters)

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