July 24, 2024: Amid a rough day for the ASX, which lost 1.3% following the worst day for US markets since late 2022, and regional losses like Japan’s Nikkei plummeting over 3%, two biotech stocks shone brightly. Despite dampened enthusiasm for artificial intelligence technology due to profit reports from Tesla and Alphabet, OncoSil Medical Limited (ASX: OSL) and Tissue Repair Ltd. (ASX: TRP) saw significant gains, capturing the attention of investors with their promising developments.

OncoSil Medical Ltd (ASX: OSL)

OncoSil Medical Ltd., a company specialising on locally advanced unresectable pancreatic cancer treatment devices, has experienced an impressive surge in its stock price, rising more than 170% since early June. This remarkable growth can be attributed to several key developments that have instilled confidence among investors.

On July 9, 2024, OncoSil revealed its top 20 security holders, which included significant names such as Gilmon Wong, former CEO of Sirtex Medical, and renowned investor Peter Hall, who also has a history with Sirtex. The presence of these industry veterans has undoubtedly boosted investor confidence in OncoSil’s potential.

Adding to the excitement, Peter Hall is set to join the OncoSil board as a Non-Executive Director by the end of August 2024. Hall’s extensive experience and proven track record in the biotech industry are expected to bring valuable insights and strategic guidance to the company.

In another significant move, OncoSil announced on July 25, 2024, that it had secured a $2.7 million investment from an Australian institutional investor. This placement, at an issue price of $0.007 per share, is a strong vote of confidence in the company’s future prospects. The funds will be utilised to further the development and commercialisation of OncoSil’s innovative pancreatic cancer treatment device.

The recent successes of OncoSil Medical highlight the company’s potential to revolutionise pancreatic cancer treatment. With a robust leadership team, strong backing and strategic investments, and a focus on groundbreaking medical device technology, OncoSil is well-positioned for continued long-term growth. Investors are clearly recognising this potential, as evidenced by the stock’s substantial rise.

Tissue Repair Ltd (ASX: TRP)

Tissue Repair Ltd., another standout biotech stock, has seen its share price soar by 59%, now trading at 35 cents. Over the past 12 months, the stock has shown a steady increase of 12.9%. Tissue Repair is a clinical-stage biopharmaceutical company dedicated to developing advanced wound-healing products for chronic wounds and aftercare.

The company’s recent breakthrough came with approval from the Therapeutic Goods Administration (TGA) for its advanced wound healing gel product, TR Pro+. This gel contains Tissue Repair’s proprietary active ingredient, Glucoprime (0.1%), derived from yeast. The product will be available in 10g and 50g tubes, as well as 3g sachets.

The TGA approval is a significant milestone for Tissue Repair, allowing the company to promote its scientific and clinical data more broadly. The gel is set to establish a new standard in the aftercare of medical and aesthetic procedures, with claims around skin healing, repair, and regeneration.

Since its launch as a cosmetic product a year ago, TR Pro+ has shown tremendous market potential. The company reported record sales in the third quarter, with 130% growth quarter-over-quarter and distribution expanding to over 160 clinics. The TGA listing is expected to further enhance the product’s marketability and reach.

Investors have responded enthusiastically to these developments, driving up the share price. The approval and subsequent market expansion of TR Pro+ position Tissue Repair for continued success in the wound care market.

While the broader market faced challenges, OncoSil Medical Ltd. and Tissue Repair Ltd. have proven to be resilient and promising investments. OncoSil’s strategic leadership appointments and substantial investment, coupled with Tissue Repair’s regulatory approval and market expansion, have propelled their stock prices to impressive heights. Investors looking for high-potential biotech stocks should keep a close eye on these two ASX-listed companies as they continue to make significant strides in their respective fields.