"The Company also advises that its Chief Executive Officer, Kimber Rothwell has purchased500,000 Echo IQ (ASX:EIQ) shares on-market."
At face value this is a succinct interpretation of today's update. Outlay of around $50,000 by the new CEO and he purchased on-market. That purchase is in addition to an absolute bucket-load of oppies and performance rights he is entitled to under his employment package. But it is his own dosh and it was on the open market. Doesn't mean the reader study is a success - let's await for them to release the analysis - so I've no concerns of insider trading from the CEO.
So what is the Reader study:
" The reader study, being conducted in the US, has beendesigned to demonstrate how effective EchoSolv TM (Echo IQ's cardiology decision support platform) isat supporting physicians in better identifying aortic stenosis, using widely-available echocardiographyoutput measurements.Under the terms of the study protocol, the assigned readers are required to perform a number ofassessments with and without the use of EchoSolv TM , in two phases. Echo IQ advises that the firstphase is now almost complete, with most readers having completed their assessments.
A number of readers are now well advanced in their Phase 2 reviews.The Company expects all reader assessments to be completed in January 2024, with the lodgement ofits final FDA submission shortly thereafter."
They are a bit late - a couple of months late - with finishing the study but hopefully they lodge with the FDA in April and its good news in July / August.
EIQ Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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