This ASX 300 healthcare share just crashed 16%. Here's why

Investors are punishing the ASX 300 healthcare company today. But why?

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The S&P/ASX 300 Index (ASX: XKO) healthcare share Clinuvel Pharmaceuticals Ltd (ASX: CUV) is having a day to forget today.

Shares in the biopharmaceutical company closed yesterday trading for $12.53. In earlier trade, shares plunged to $10.53 each, down 16.0%. After some likely bargain hunting, at the time of writing, shares are changing hands for $10.81 apiece, down 13.7%.

For some context, the ASX 300 is down 0.1% at this same time.

Here's what's happening.

A medical researcher rests his forehead on his fist with a dejected look on his face while sitting behind a scientific microscope with another researcher's hand on his shoulder, as if giving comfort.

Image source: Getty Images

ASX 300 healthcare share tumbles on results

Investors are pressuring the ASX 300 healthcare share following the release of Clinuvel's full-year financial results for the 12 months to 30 June (FY 2025).

That's despite the company reporting its ninth consecutive year of profits.

Net profit before tax came in at $51.6 million, while net profit after tax (NPAT) was $36.2 million. Both figures are up 2% from FY 2024.

Clinuvel also achieved 10% year-on-year revenue growth to $105.3 million from sales of its SCENESSE product, which is used to treat erythropoietic protoporphyria (EPP) patients, primarily in Europe and the United States.

Perhaps pressuring the ASX 300 healthcare share today, the company reported a 20% increase in expenses to $53.7 million. Management said this reflects the company's direct and indirect costs associated with its clinical program for vitiligo.

Still, cash reserves increased by 20% over the 12 months to $224.1 million.

On the passive income front, the board declared a fully franked final dividend of 5 cents per share, in line with last year's final Clinuvel dividend. That brings the full-year payout to 10 cents per share.

If you want to grab that final dividend, you'll need to own shares at market close on 3 September. Clinuvel stock trades ex-dividend on 4 September. You can then expect to be paid on 19 September.

What did management say?

Commenting on the results pressuring the ASX 300 healthcare share today, Clinuvel CFO Peter Vaughan said:

The Clinuvel team has delivered what it set out to achieve in FY2025: continued commercial growth while accelerating our Phase III clinical program for vitiligo in a cost-controlled manner.

This year's result sees us deliver a ninth year of profits from the commercial distribution of SCENESSE for EPP.

Looking ahead, Vaughan added:

All of our key financial metrics – revenues, profit, re-investment in the business and asset growth – continue to increase year-on-year, providing a strong basis for a sustainable biopharmaceutical group and enabling us to expedite our objectives for the revenues and growth of tomorrow.

The company did not provide specific FY 2026 guidance, which may also be spooking investors today with potential increases in US drug tariffs still looming.

With today's big fall factored in, the ASX 300 healthcare share is down 30% since this time last year, excluding dividends.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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