Ann: Cyclopharm's USA Technegas Expansion Update, page-20

comms a few months back!

Cyclopharm: Solid Start in the US with Technegas

Cyclopharm (ASX: CYC) has reported early sales success in the US for its lung imaging tool, Technegas. After years of effort, the company received FDA approval in late 2023. Since then, it has recorded $250,000 in sales.

Technegas, already approved in many countries, involve the patient inhaling a radioactive gas-like substance. This process improves the diagnosis of pulmonary embolisms. Cyclopharm has administered Technegas 4.9 million times globally.

In the first half of 2024, the company reported a flat Technegas revenue of $7.46 million. However, the US market investment led to a loss of $7.48 million, up from a previous deficit of $2.66 million. The company recently secured a three-year reimbursement deal from public US health insurers.

Cyclopharm’s shares rose by 4.3% to $1.44, with a market capitalisation of $153.36 million. The company estimates the US market for pulmonary embolism at $180 million, with potential growth to $900 million as Technegas is adopted for other lung diseases.