ResApp shares spike on EU green light
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Shares in digital health company ResApp Health have closed up 33 per cent today to 20 cents, after it received European regulatory approval for its first commercial product – the ResAppDx-EU.
The smartphone app obtained EU certification as a diagnostic test for acute paediatric respiratory disease.
The software uses machine learning algorithms that analyse a patient’s cough sounds to diagnose disease.
ResApp said the certification would facilitate further regulatory submissions in Australia, Canada and Singapore.
ResApp chief executive Tony Keating said he was excited about receiving its first regulatory approval for its flagship acute diagnostic product.
“This is our biggest achievement yet and results from many years of hard work by our dedicated team,” he said.
ResApp is headquartered in Brisbane, with its registered office in Perth.
Its shares have been on a rollercoaster ride in recent years due to news around its ResAppDx.
In October last year, it’s shares more than halved in one day, following the release of study results relating to its ResAppDx.
In August 2017, its shares fell by over three quarters, also due to the release of study results of its ResAppDX.