These 3 ASX Healthcare shares are running hot today

These ASX Healthcare shares have led the way today along with metals and mining.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 index (ASX: XJO) has spent the day in the green and is currently 0.5% higher at 7,309.7 points.

Healthcare shares are amongst the strongest performers leading the broad index's recovery today, with the S&P/ASX 200 Health Care index (XHJ) gaining 0.45% since the open.

These three ASX healthcare shares are standouts in today's session.

three excited doctors with hands in the air

Image source: Getty Images

Bod Australia Ltd (ASX: BDA)

CBD and hemp manufacturer Bod Australia's share price has soared higher on Wednesday and landed almost 12% in the green.

Bod's shares are now changing hands at 29 cents apiece after the company announced a key clinical milestone earlier today.

Bod advised that it had entered into an agreement with "Australia's leading respiratory and sleep institute" for a "schedule 3 trial" of a new CBD product.

The study will examine the efficacy of Bod's "unique CBD formulation" over a 12 week period, at the Woodlock Institute of Medical Research.

According to Bod, this "unlocks a large opportunity", as the "schedule 3 market (is) valued at $250 million", and the "unregulated market" could be worth around $3.5 billion.

Bod will also "leverage established relationships" with key partners following "product registration with the Therapeutic Goods Association (TGA)".

Clinuvel Pharmaceuticals Limited (ASX: CUV)

Global biopharmaceuticals company Clinuvel's share price has gained 5% today, despite no market sensitive news for the company.

However, Clinuve's share price jumped after the company announced some amendments to its Annual General Meeting (AGM).

The company advised that its AGM will be held online in light of the COVID-19 pandemic, on Wednesday 10 November, with the time yet to be confirmed.

As such, shareholders will have to tune in to the virtual meeting remotely – but the decision does allow the meeting to take place.

Clinvel's shares have been on an extended rally since the company announced record revenues and profit in its FY21 results last month. Since then, the Clinuvel Pharmaceuticals share price has climbed 49% to date.

Imugene Limited (ASX: IMU)

Another ASX healthcare share gaining steam today is biopharma company Imugene, posting a gain of 5% on the day.

Imugene shares are on the move after the company announced that its HER-Vaxx immunotherapy was granted patent approval in Japan.

This is a big move for the company and its HER-Vaxx regime, which is "currently in development" for gastric cancer.

As a result, Imugene's HER-Vaxx therapy has protection in Japan, for the "composition and method of use" in its application.

The release also notes that "approximately 75% of all gastric cancer diagnoses are in Asia", and that Japan has the "thirst highest incidence rate of gastric cancer worldwide".

Imugene is hoping to make a meaningful difference to that statistic with its immunotherapy.

These three ASX Healthcare shares have beaten the broad indices today.

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Woman leaping in the air and standing out from her friends who are watching.
Share Gainers

3 ASX 200 stocks leaping higher in this week's slumping market

Investors sent these three ASX 200 stocks rocketing 24% to 28% in this week’s sliding market. But why?

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Eden Innovation, Elsight, Paladin Energy, and Zip shares are racing higher today

These shares are ending the week on a high. But why?

Read more »

A female superhero dressed in shiny green with a mask leaps in the sky with leg and arm outstretched in a leaping action.
Share Gainers

WiseTech shares rocket 11% higher today: Buy, sell or hold?

It looks like we could see a lot more out of WiseTech shares over the next few months!

Read more »

Ecstatic man giving a fist pump in an office hallway.
Share Gainers

Why AMP, Life360, Netwealth, and Ora Banda shares are racing higher today

These shares are having a strong session. What's going on?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Evolution Mining, Mesoblast, Nufarm, and Virgin Australia shares are storming higher today

These shares are having a good session on hump day. But why?

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face.
Share Gainers

3 ASX 200 shares tipped to climb another 35%

These shares have helped push the ASX 200 Index higher.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Boss Energy, Macquarie, Nova Minerals, and WiseTech shares are storming higher today

These shares are climbing more than most on Tuesday. What's going on?

Read more »

Green stock market graph with a rising arrow symbolising a rising share price.
Share Gainers

Guess which ASX mining stock is rocketing 80% today on huge Philippines news

This small-cap ASX mining stock is coming close to doubling its value today.

Read more »