'The numbers are a little bit scary': ASX breakout 4DMedical seizes on rally with equity raise
The $2.3b market darling is expected to raise $150m after an extraordinary 5-month share price surge, but investors are split on whether the dream run can continue.
Shares in little-known medical imaging business 4DMedical have surged more than 1,800% since July, catapulting the Melbourne-based medtech outfit into the market spotlight and putting it on course to crack the ASX 200 — before a rare pullback on Monday.
The 7% slide came just before the company halted trading to announce what could be the next catalyst for the stock.
Shares entered a trading halt on Tuesday morning for the purposes of “considering, planning and executing” a capital raise. Bell Potter is seeking to raise $150 million at $3.80 per share, according to the Australian Financial Review.
4DMedical, which develops four-dimensional lung-imaging software, has seen its shares spurred on in recent weeks as the company cleared key regulatory hurdles in North America, and revealed a string of contract awards across US academic medical centres.
