And the West Australian.........
Share in ResApp Health have added as much as one-third in value to a record high in the wake of new data suggesting its smartphone diagnostic app is equally as successful in detecting respiratory problems in adults as children.
Chief executive Tony Keating said the preliminary results from ResApp’s first clinical study of adults provided “an excellent indication” that the diagnostic algorithms developed for children “are equally accurate in adults”.
“These results begin to build the foundation for our adult diagnostic clinical and regulatory strategy and significantly increase the addressable market for our technology,” Dr Keating said.
ResApp said the latest data showed the cough-based diagnostic technology demonstrated “high levels of accuracy for distinguishing adult patients with chronic obstructive pulmonary disease (96 per cent accuracy), asthma (92 per cent) or pneumonia (100 per cent) with subjects with no discernible respiratory disease”.
Having last traded 37¢ before going into a trading halt yesterday, the company’s shares leapt to a record 49¢ on the resumption of trade today. As at 10.20am, they were 6¢ higher at 43¢, capitalising ResApp at $285 million.
The study, which is being undertaken at Joondalup Health Campus, has enrolled 322 adults, though the preliminary data released today was based on a subset of 143 people.
ResApp is seeking regulatory approval in the US with the aim of delivering a commercial product by the end of the year.
Its technology is based on machine-learning algorithms developed at the University of Queensland with $750,000 of funding from the Bill and Melinda Gates Foundation
