Resapp Health Ltd(ASX: RAP) shares are up 6.3% to 34 cents this morning after it announced a partnership with Massachusetts General Hospital to conduct a clinical study aimed at gathering evidence for a potential submission to the US FDA. ResApp develops smartphone medical applications for the diagnosis and management of respiratory diseases and has an evangelical-like following of retail shareholders hoping the company can deliver on its potential. The market cap is nearly $200 million – large for a company with no revenues and a net operating cash flow loss of $612,000 for the quarter ending 31 March 2016, although it reportedly has some exciting potential.
RAP Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held