Cogstate (ASX: CGS): The Brain Health Company That Keeps Quiet but Delivers Big
Cogstate is not making noise. It is just growing stronger each quarter.
In the first half of FY25, the company reported revenue of $23.9 million, a 19 percent increase from the prior period. Profit before tax rose 150 percent to $5.2 million, while net profit after tax climbed to $3.9 million. Operating cash flow flipped to a $5 million inflow, with cash reserves now sitting at $34.2 million.
That is only the start of the story.
Cogstate is building a digital foundation for brain health, with software powering clinical trials in Alzheimer’s, Parkinson’s, epilepsy and over 150 other indications.
- Clinical Trials revenue reached $22.7 million, up 27 percent
- Sales contracts hit $20.3 million, the strongest half in recent history
- Total contracted future revenue stands at $99.1 million
Its healthcare business saw a drop due to a revised agreement with Eisai. But the restructure handed Cogstate greater global control and set a $30 million minimum over the next ten years.
The partnership with Medidata is also unlocking fresh opportunities. Twenty-eight customers have already come through this channel, covering conditions from ADHD to ALS.
Cogstate is not chasing trends. It is focused on consistent execution with software, science and scale behind it.
And while others look for breakout biotech plays, this one is quietly becoming part of the infrastructure.
PYC Therapeutics (ASX: PYC): A Healthcare Innovator Investors Should Not Overlook in 2025
PYC Therapeutics is not riding biotech trends. It is engineering solutions for diseases most companies do not even touch.
This clinical-stage company is developing RNA-based precision medicines for genetic conditions that currently have no treatments. The lead candidate, VP-001, is targeting Retinitis Pigmentosa type 11 — a blinding eye disease of childhood. And the early data is starting to stand out.
In ongoing Phase 1/2 trials, patients treated with VP-001 have shown improvements in both vision and retinal sensitivity. The FDA has already cleared a path forward, including acceptance of the study design and endpoints for a registrational trial.
- Clinically meaningful gains in Low Luminance Visual Acuity
- Improved retinal sensitivity measured via microperimetry
- No serious treatment-related adverse events reported
PYC is not stopping at the eye. The pipeline includes drug candidates for Autosomal Dominant Optic Atrophy, Polycystic Kidney Disease, and Phelan-McDermid Syndrome. Human trials are underway or expected to start in 2025. A dose escalation in its kidney disease program has already been approved. Its ADOA program is progressing through safety and efficacy assessments.
With over $200 million in cash and all programs advancing on schedule, PYC is fully funded into calendar year 2027.
While the market waits for biotech momentum to return, PYC is already delivering milestones that matter. Investors watching healthcare in 2025 should be paying close attention.
This is not just drug development. This is clinical momentum taking shape.
(Source: Company Announcements)
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