Medtechs dominated the ASX boards this week with one company rocketing nearly 1500 per cent after getting approval to enter the US market, its rise was so strong it dragged a partner up as well.
FLASHPOINT - TRANSCRIPT
Tim - But first here's Matt Birney with the ASX Runners of the Week.
Tim - Thanks to Argonaut
Matt Birney - Thanks Tim.
Matt Birney - Well, MedTech company Lumos Diagnostics bolted 1,491 per cent this week after the US FDA gave its respiratory infection test the greenlight. Its stock hit 17.5 cents, up from a close last week of just 1.1.
Matt Birney - Fellow MedTech Atomo Diagnostics jumped in the slipstream, rocketing 354 per cent to hit 10c after some canny investors picked up that Atomo has a supply agreement with Lumos.
Matt Birney - Australian Mines also went pop with the grant of a nickel/cobalt mining lease in Queensland with its stock hiking from 1.6 cents to 6 cents, up 275 per cent.
Matt Birney - And finally, cancer diagnostics company Pacific Edge climbed 192 per cent after a move to revoke its Medicare coverage in the US was delayed indefinitely. That news saw its shares touch 22.5c off last week’s close of just 7.7.
Matt Birney - Now here’s a fun fact for you– if you punted a thousand dollars last week on each of this week’s 4 runners of the week - that $4,000 would have magically morphed into $27,000 – if only it was that easy.