4DMedical shares fall despite new clinical program, European expansion
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More news: Shares in 4DMedical tumbled in afternoon trade despite the medical imaging company unveiling a new clinical evidence program to expand its CT:VQ technology into the acute pulmonary embolism market. This followed plans to scale its newly established European operations, announced on Monday.
Shares fell 4% to $3.92 at 2:49pm AEST.
4DMedical launches program to fast-track entry into pulmonary embolism market
The news: Medical imaging company 4DMedical has launched a new clinical evidence program designed to fast-track the entry of its flagship software CT:VQ into the acute pulmonary embolism (PE) market.
The numbers: The company said the program will help grow the obtainable market for CT:VQ in the US to USD3 billion ($4.2 billion).
The context: 4DMedical, which announced that it has expanded operations to Europe on Monday, said its three-dimensional CT:VQ software is already displacing traditional nuclear VQ (ventilation-perfusion) scans “at pace”.
The company expects its entry to the PE market will increase its target market from roughly 1 million scans per year, to around 5 million scans per year.
What they said: “We continue to gain share in our core segment as CT:VQ displaces nuclear VQ in the United States at an incredible pace,” said 4DMedical founder and CEO Andreas Fouras.
“Leveraging our war chest, we are also expanding into new segments: adding 50% through our entry into Europe, and now, through this investment, multiplying our opportunity sixfold. 4DMedical continues to accelerate.”
The source: ASX
