6 of the best performing ASX All Ords stocks in the past year

6 of the best performing ASX All Ords stocks in the past year

Clarity Pharmaceuticals (ASX:CU6)

Clarity is a late-stage clinical biotech, testing its Targeted Copper Theranostics (TCT) technology in a pivotal clinical trial. TCT is a radiation-based therapy that delivers treatment directly to the cells rather than the outside. This is the type of therapy employed by Telix, and investors think Clarity could follow in its footsteps.

Everyone knows the damage cancer does, but also that treatments such as chemotherapy can cause. The sad thing is that there has been little to no innovation in cancer treatments over the last few decades, even in spite of all the research done. But companies like Clarity provide hope.

The trial remains ongoing, but investors have also been appetised by multiple blockbuster M&A deals in the radiopharmaceutical space and consequent speculation Clarity Pharmaceuticals could be next. AstraZeneca bought Fusion for US$2.4bn, Eli Lilly bought Point Biopharma for US$1.4bn and Bristol Myers Squibb bought Rayze Bio for US$4.1bn. And all of these were when the target companies were where Clarity was – at the clinic. With few other radiopharmaceutical companies out there, and a cash balance of A$153.2m, you’d imagine a premium would need to be paid by any would-be buyer.

Dimerix (ASX:DXB)

Dimerix is also a late-stage clinical biotech. There are a trio of differences with this stock. First, it is targeting a kidney disease called Focal Segmental Glomerulosclerosis (FSGS), where the filters of your kidney become damaged by inflammation and the kidneys’ ability to purify the blood is impaired. Second, there are commercial arrangements already in place for several market with Advanz Pharma for the EEC, UK, Switzerland, Canada, Australia and New Zealand, along with Taiba Middle East for multiple Middle Eastern markets. And third, there is interim clinical data depicting its treatment stacks up.

The key date for investors to note is mid-CY25, when the next set of data from the trial is scheduled to be released. This may seem like a while away, but there could be other milestones before then. In particular, we see the execution of further licensing deals (including for the US and China) as possible milestones.

Spartan Resources (ASX:SPR)

The majority of gold stocks have performed well in the past 12 months, but Spartan stands above many of its peers, with a 400% jump in 12 months, making it worth over $1bn. The company, 18% owned by Ramelius Resources, has the Dalgaranga Gold Project in WA’s Murchison Region. It has established a Mineral Resource Estimate of 16.1Mt @ 4.79g/t for 2.5m ounces. Pretty good in our book. That is the most recent estimate, in July 2024, and there could be more to come with exploration work ongoing.

Step One (ASX:STP)

Step One nearly doubled post its IPO, only to crash to 30c after listing at over $1.40. The trigger for the decline was the company disclosing the identification of a potential overclaim of GST credits. It was not too high, at $1.3m, but this arguably led to investors asking: When you’re struggling economically, why pay $29 per pair of underwear when you can pay just $3?

But things have improved in the last 12 months as it expanded into international markets and into women’s wear. It has also expanded its distribution channels, relying on Amazon among others, after previously wanting to only sell direct through its own ecommerce channels.

For its upcoming FY24, the company has guided to $84m in revenue (up from $65m 12 months ago) and $17m EBITDA (up from $12m last year and an $0.1m loss the year before). And the company boasted nearly 1.4m customers around the world. When people are willing to pay $29 per pair of underwear, it doesn’t really matter why they are willing as long as they are.

Ora Banda Mining (ASX:OBM)

Ora Banda is a gold producer, with a mine ~100km north-west of Kalgoorlie. As if high gold prices weren’t enough of a reason to look at this stock, it was able it cut its AISC by 10% and produce 46% more gold (69.9kg) than the previous year in FY24. It has guided to 77-81koz production for FY25.

ZIP (ASX:ZIP)

Unlike many of its peers, Zip managed to survive the rise of interest rates and cash crunch that hit the BNPL sector. Zip has been able to grow its business by winning customers from other businesses. It exited non-profitable markets to only focus on Australasia and the USA. In the June quarter of 2024, Zip recorded $2.6bn in Transaction Volume and $223.6m in revenue, along with 6m active customers and 2.1m transacting users. 3 years ago, in the June quarter of 2021, $1.8bn in Transaction Volume, $129.9m in revenue and 7.3m ‘customer numbers’.

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