April was the month that ASX small cap health stocks began to capture the momentum of the bull market seen this year.

Stocks gained 4.56 percent in April, bringing their year to date performance up to 5.24 percent.

The health sector contains several ‘make or break’ stocks that hinge on either clinical studies or the take up of its products.

As is usually the case, the best performers were the ones that have either ‘made it’ or gone a significant step towards being able to say they have.

The winners

The two best performers were app-related stocks; Resapp (ASX: RAP) and Painchek (ASX: PCK).

Resapp can diagnose respiratory diseases from coughing into a smartphone and PainChek can diagnose pain through images of a person’s face – which can be useful when patients cannot verbalise it.

Resapp announced the top-line results of a clinical study that found its smartphone-based algorithms were found to “accurately diagnose acute respiratory disease – achieving greater than 86 percent positive and negative percent agreement for lower respiratory tract disease and pneumonia compared with clinical diagnosis.”

Painchek’s rise was sparked by the federal government agreeing to invest $5 million into the company although it also achieved significant commercial deals.

The third top performer in April was med tech play Neurotech (ASX: NTI). It has had no news this month but perhaps investors are inspired by the vision of the company, which aims to help children with autism. This is done through medical devices which provide neuro-feedback, thus relaxing their minds.

While cannabis stocks have had a rough patch in recent months, the stand out performer was MGC Pharmaceuticals (ASX: MXC) who gained 29 per cent. This came after it signed a deal to sell its products in China.

Top 15 performing health and biotech small cap ASX stocks

Ticker Name Market Cap Price (1-May) Total Return April (%) Total Return

YTD 2019 (%)

RAP RESAPP HEALTH LTD $    121,297,840.00 0.185 101 76
PCK PAINCHEK LTD $       58,149,152.00 0.067 91 72
NTI NEUROTECH INTERNATIONAL LTD $          2,714,877.50 0.023 64 -42
ALC ALCIDION GROUP LTD $       75,733,088.00 0.092 59 104
NOX NOXOPHARM LTD $       71,108,808.00 0.625 56 49
AHZ ADMEDUS LTD $       35,396,568.00 0.06 50 -3
AGH ALTHEA GROUP HOLDINGS LTD $    103,688,096.00 0.54 42 120
DVL DORSAVI LTD $       11,832,973.00 0.058 41 -6
ANP ANTISENSE THERAPEUTICS LTD $       23,105,692.00 0.053 39 104
M7T MACH7 TECHNOLOGIES LTD $       36,961,780.00 0.25 35 19
RHT RESONANCE HEALTH LTD $       54,924,684.00 0.125 34 108
FTT FACTOR THERAPEUTICS LTD $          5,214,178.00 0.004 33 100
AZV AZURE HEALTHCARE LTD $       19,082,452.00 0.082 30 17
MXC MGC PHARMACEUTICALS LTD $       53,364,540.00 0.044 29 10
MDR MEDADVISOR LTD $       77,688,672.00 0.058 26 66
This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.