COO Boosts Revenue Outlook, GTH On Watch, PHR Forecasts 27% To 29% Revenue Growth…

The following companies belonging to the healthcare sector reported quarterly financial results and provided pipeline updates.

1. The Cooper Companies Inc. (COO), which reported strong revenue growth for its fiscal second quarter ended April 30, 2022, is continuing to see strong momentum.

Revenue was $829.8 million for the second quarter of 2022 compared to $719.5 million in the year-earlier quarter, an increase of 15%.

On a GAAP basis, net income increased to $126.6 million or $2.55 per share from $117.5 million or $2.36 per share in the year-ago period. On a non-GAAP basis, earnings per share declined to $3.24 in Q2, 2022 from $3.38 in Q2, 2021.

Looking ahead to fiscal year 2022, the company expects non-GAAP EPS in the range of $13.09 to $13.29 on revenue range of $3,280 million to $3,312 million. Earlier, the company had forecast non-GAAP EPS outlook in the range of $13.70 to $14.20 and revenue range of $3,261 million to $3,329 million.

Non-GAAP EPS was $13.24 and revenue was $2,922.5 million in fiscal year 2021.

COO closed Thursday’s trading at $352.81, up 2.80%.

2. Genetron Holdings Limited (GTH), which reported nearly 20% revenue growth in its first quarter ended March 31, 2022, is confident about its long-term competitive position.

The company specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development.

The loss per ordinary share attributable to owners of the company widened to RMB 0.38 (US $0.06) for the first quarter of 2022 from RMB 0.25 for the same period of 2021. Revenue for the first quarter of 2022 increased by 19.8% to RMB 110.3 million (US $17.4 million) from RMB 92.1 million in the year-ago period.

Looking ahead to full-year 2022, the company continues to expect revenue to be around RMB 585-638 million, representing 10-20% growth over its revenue in 2021. Revenue was RMB532.0 million (US$83.5 million) in 2021.

GTH closed Thursday’s trading at $1.52, up 2.70%.

3. Immatics N.V. (IMTX), a clinical-stage biopharmaceutical company, provided a pipeline update on Thursday.

The company’s pipeline includes IMA401, IMA402, and IMA40X.

— IMA401 advanced into a phase I trial in patients with recurrent and/or refractory solid tumors last month. This compound is being developed in collaboration with Bristol Myers Squibb.
— IMA402 is expected to advance into a phase I trial in 2023. IMA402 is directed against a peptide derived from the cancer target PRAME, a protein that is frequently expressed in many solid cancers.
— IMA40X, for an undisclosed indication, is under preclinical testing.

IMTX closed Thursday’s trading at $7.79, up 3.18%.

4. NuCana plc (NCNA) has multiple data readouts lined up for this year.

The company’s pipeline includes NUC-3373 and NUC-7738.

NUC-3373 is in a phase 1b/2 studies in patients with metastatic colorectal cancer. NUC-7738 is in a phase 1/2 study for patients with advanced solid tumors.

NUC-3373:

— Data from the Phase 1b/2 study of NUC-3373 combined with leucovorin, irinotecan and bevacizumab in patients with colorectal cancer is expected to be announced this year.
— Data from the Phase 1b/2 modular study of NUC-3373 in combination with other agents in patients with solid tumors to identify additional indications for development are also expected this year.

NUC-7738:

— Data from the phase 1 part and phase 2 part of the phase 1/2 study of NUC-7738 in patients with advanced solid tumors is expected this year.

As of March 31, 2022, the company had cash and cash equivalents of £52.6 million.

NCNA closed Thursday’s trading at $0.60, up 3.66%.

5. Phreesia Inc. (PHR), which provides healthcare organizations a suite of robust applications to manage the patient intake process, has reported strong financial results for the fiscal first quarter ended April 30, 2022.

Net loss for the fiscal first quarter of 2023 widened to $51.2 million or $0.99 per share from $10.97 million or $0.24 per share in the year-ago period. Total revenue for the quarter jumped to $63.35 million from $48.29 million in the year-earlier quarter.

Average number of healthcare services clients increased 33% to 2,526 in fiscal Q1, 2023 from 1,902 in the same period in the prior year.

For fiscal 2023, the company expects revenue in the range of $271 million to $275 million implying year-over-year growth of 27% to 29%.

PHR closed Thursday’s trading at $19.00, up 4.63%.

6. Procaps Group S.A. (PROC), a developer of pharmaceutical and nutraceutical solutions, medicines, and hospital supplies, has turned around to profit for the quarter ended March 31, 2022.

According to preliminary financial results reported yesterday, net income for the first quarter of 2022 was $16.4 million on revenue of $85.6 million. This compared with a net loss of $17.0 million and revenue of $77.4 million in the year-ago quarter.

The net income for Q1, 2022 included a U$20.2 million non-cash gain from the re-valuation of the company’s ordinary shares held in escrow and warrant liabilities.

The company expects to report its complete first quarter 2022 financial results in the next few weeks.

PROC closed Thursday’s trading at $9.05, up 6.47%.

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