CURVEBEAM (CVB) Market Cap: $75m ...stock has declined from this...

CURVEBEAM (CVB)
Market Cap: $75m

...stock has declined from this morning's jump but looks interesting from valuation perspective.

CurveBeam AI jumps on FDA clearance

Tess Bennett

Shares in ASX minnow CurveBeam AI jumped 15 per cent this morning after the United States Food and Drug Administration cleared the company’s new CT scanner to be used on knee and hip patients in orthopaedic practices.

CurveBeam AI said its Enhanced HiRise scanner has received 510(k) clearance from the FDA on Friday US time. With this clearance, the Enhanced HiRise scanner can now be used in routine medical practice settings. This will allow the final validation steps to be run on patients to ensure compatibility with custom knee and hip procedures, including robotic surgical systems.

It also permits the company to execute its commercial launch and expansion plans for the Enhanced HiRise platform in the US market.

CurveBeam AI shares were trading at 27¢ this morning and are up 35 per cent in a week after the company announced a jump in purchase orders for its HiRise machine.