Pharmaxis (PXS: $0.077) has executed a deal for the license and sale of its Orbital drug inhalation device with Aptar Pharma for US$5 million.

Neuren Pharmaceuticals (NEU: $5.45) has some very clear objectives set for the next 17 months. The most significant of these is gaining US approval of its lead drug candidate, trofinetide, which is being commercialised in North America under license from Neuren by Acadia Pharmaceuticals for the treatment of Rett syndrome in children and adults.

Acadia filed trofinetide for approval last month. The next stage is notice from the FDA that the application is in order and has been accepted (in September), which will trigger a US$10 million payment to Neuren from Acadia.

Imricor Medical Systems (IMR: $0.29) is pioneering MRI-guided cardiac ablation, rather than ablation procedures conducted using x-ray fluoroscopy imaging. It is the only company in the world that sells MRI-compatible consumable devices used for cardiac ablation.

Cardiac ablation is a minimally invasive procedure whereby electrical abnormalities in the heart, which cause abnormal heart rhythms, are corrected by heating or freezing cardiac tissue inside the heart via a catheter. The issue with using x-ray to help guide the procedures is that the heart is almost invisible to x-rays.

Wound healing products company Aroa Biosurgery (ARX: $0.86) continues to deliver consistent and strong top-line growth. Cash receipts in the June quarter were NZ$13.9 million (up 162% over the PCP). Net cash outflow was NZ$1.3 million from operations and investment in equipment, down from NZ$3.7 million in the PCP and down from NZ$6.5 million in the previous quarter.

Wound healing products company Aroa Biosurgery (ARX: $0.86) continues to deliver consistent and strong top-line growth. Cash receipts in the June quarter were NZ$13.9 million (up 162% over the PCP). Net cash outflow was NZ$1.3 million from operations and investment in equipment, down from NZ$3.7 million in the PCP and down from NZ$6.5 million in the previous quarter.

The strong performance in the June quarter included a large shipment of product to the company's distributor, TelaBio, in the March quarter. The company is maintaining its revenue guidance of NZ$51 - NZ$55 million for this financial year (which ends 31 March 2023).

Cogstate (CGS: $1.83) has delivered a stunning year result for FY2022 with sales (contracts signed) of US$82.5 million. Revenue (unaudited), which trails the signing of contracts in a growth phase, was US$45 million, up 38% to the previous corresponding period (PCP).

Patrys (PAB: $0.023) has received some delays over the last two years to making its novel antibody drug candidate, PAT-DX1. However the path to clinical studies now appears in sight with a successful manufacturing run exceeding previous product yield expectations.

Imugene (IMU: $0.225) has released final overall survival data from its Phase Ib/II HER-Vaxx study in 36 patients with advanced gastric cancer with tumours that overexpressed the HER2 receptor.

Radiopharm Theranostics (RAD: $0.16) has in-licensed an additional targeting agent from Case Western Reserve University (CWRU) in the US.

The peptide licensed targets a fragment of a receptor found only on tumour cells and not in healthy tissue, called PTPµ. The peptide has been found, in preclinical studies, to recognise not only the main tumour but also small tumour metastases.

Imricor Medical Systems (IMR: $0.115) listed on the ASX in 2019 at $0.83 per share raising $13 million. The company was formed in 2006 in the US and is pioneering cardiac ablation treated specifically through the guidance of MRI. Traditional ablation procedures are conducted using fluoroscopy and x-ray imaging.

There are multiple advantages in using MRI to help guide the procedure, most notably the better imaging quality that can be achieved compared to x-ray. This results in arguably better ablation outcomes, less repeat procedures and shorter treatment periods. Efficacy of the ablation procedures involves inserting an ablation catheter through the veins or arteries to correct irregular electrical signals in the heart. Other safety benefits for patients and surgeons come from not using x-ray images.