Business · Markets · 2 hrs ago

ASX healthcare stocks rose 10% in October, outpacing the broader market

ASX healthcare stocks rose 10% in October, outpacing the broader market

The S&P/ASX 200 healthcare group rose 10% in October, while the broader Australian share index gained 2.6%.

Major companies including ProMedicus, CSL and Cochlear recorded monthly gains, though some remained well below their levels a year earlier.

Neurizon Therapeutics is raising up to $6.3 million through a share placement and a planned share purchase offer.

It will use part of the money to buy back convertible notes, and says it remains funded for a trial of its ALS drug candidate, NUZ-001.

The company expects trial results in the March quarter, although no specific date was given.

Separately, 4D Medical shares fell 25% after the company said increased short selling was a likely reason, while Vitura Health denied liability for a $6.5 million penalty involving an acquired clinic.

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